Prospect Co., Ltd. (TSE:3528) signed a share exchange agreement to acquire Keynote co., Ltd. from KeyHolder, Inc. (JASDAQ:4712) for ¥2 billion on August 12, 2020. Under the terms of the agreement, Prospect Co., Ltd. will issue 53.72 million new shares as part of consideration. Prospect Co., Ltd. will issue its 26,860 shares for every one share of Keynote co., Ltd. Post completion Keynote co., Ltd. will become wholly owned subsidiary of Prospect Co., Ltd. Board of directors of Prospect Co., Ltd. approved the transaction.

The effective date of share exchange is September 3, 2020.