Media Do Co., Ltd. agreed to acquire the remaining 29.48% stake in Digital Publishing Initiatives Japan Co., Ltd. from a consortium of sellers for ¥3.4 billion.
April 25, 2017
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Media Do Co., Ltd. (TSE:3678) concluded a contract to acquire the remaining 29.48% stake in Digital Publishing Initiatives Japan Co., Ltd. from a consortium of sellers for ¥3.4 billion on April 26, 2017. Under the terms of the transaction, 1 share of Digital Publishing Initiatives Japan Co., Ltd. will be exchanged with 40 shares of Media Do Co., Ltd. Media Do Co., Ltd. will issue 1.22 million shares for the exchange. After the transaction, Digital Publishing Initiatives Japan Co., Ltd will become a wholly owned subsidiary of Media Do Co., Ltd.
The transaction is subject to approval of shareholders' of Media Do Co., Ltd. and Digital Publishing Initiatives Japan. A meeting of shareholders' of Media Do Co., Ltd will be held on May 30, 2017. The Board of Directors of Media Do Co., Ltd and Digital Publishing Initiatives Japan Co., Ltd passed a resolution for the transaction on April 26, 2017. The transaction is expected to complete on June 1, 2017. MIT Corporate Advisory Services Co., Ltd. acted as the third party appraiser for Media Do Co., Ltd. and Digital Publishing Initiatives Japan Co., Ltd. Mori Hamada & Matsumoto LPC acted as the legal advisor to Media Do Co., Ltd and Kasumigaseki Partners Law Office acted as the legal advisor to Digital Publishing Initiatives Japan 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 Co., Ltd. agreed to acquire the remaining 29.48% stake in Digital Publishing Initiatives Japan Co., Ltd. from a consortium of sellers for ¥3.4 billion.
MEDIA DO CO., LTD. 
