MEDIA DO HOLDINGS Co., Ltd. concluded a share exchange agreement to acquire Tokushima Data Service Co., Ltd. from The Awa Bank, Limited, The Tokushima Bank, Ltd., Tokushima Shinkin Bank and TEC INFORMATION CORP. for approximately ¥420 million.
December 12, 2018
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MEDIA DO HOLDINGS Co., Ltd. (TSE:3678) concluded a share exchange agreement to acquire Tokushima Data Service Co., Ltd. from The Awa Bank, Limited (TSE:8388), The Tokushima Bank, Ltd., Tokushima Shinkin Bank and TEC INFORMATION CORP. for approximately ¥420 million on December 13, 2018. MEDIA DO HOLDINGS Co., Ltd. will issue 0.16 million shares calculated by multiplying 100 shares of existing issued shares of Tokushima Data Service Co., Ltd. by the above exchange ratio of 1. Post completion, Tokushima Data Service Co., Ltd. will operate as a wholly owned subsidiary of MEDIA DO HOLDINGS Co., Ltd. MEDIA DO HOLDINGS Co., Ltd. will not receive approval by its general shareholders' meeting through the simplified share exchange procedure, while Tokushima Data Service Co., Ltd. will receive the approval of the deal at its extraordinary general meeting scheduled for December 21, 2018.
The Board of Directors of MEDIA DO HOLDINGS Co., Ltd. passed a resolution for the deal on December 13, 2018. The deal is scheduled to take effect on January 4, 2019. MEDIA DO HOLDINGS Co., Ltd. and Tokushima Data Service Co., Ltd. have requested MIT Corporate Advisory Services to calculate the share exchange ratio. Mori Hamada & Matsumoto LPC acted as legal advisor to MEDIA DO HOLDINGS Co., Ltd. and Manabe Law Offices acted as legal advisor to Tokushima Data Service Co., Ltd.
Media Do Co Ltd, formerly known as Media Do Holdings Co Ltd is a Japan-based company mainly engaged in the distribution of electronic books (e-books) mainly for smartphones, tablet terminals and other mobile terminals. The Company operates through two business segments. E-book Distribution segment entrusts e-book contents from publishers and other content owners, distributes them to client e-book stores, and sells them through its own e-book stores. It also engaged in the strategic planning, e-book management consultation, e-book site production and management support. The Others segment is engaged in media management, publishing and creative support services. The Company is also engaged in the operation of filer, which is a service that provides summary contents of books; the provision of electronic comic coloring, comic drawing support service; as well as the operation of the community media MyAnimeList.
MEDIA DO HOLDINGS Co., Ltd. concluded a share exchange agreement to acquire Tokushima Data Service Co., Ltd. from The Awa Bank, Limited, The Tokushima Bank, Ltd., Tokushima Shinkin Bank and TEC INFORMATION CORP. for approximately ¥420 million.