Media Do Co., Ltd. agreed to acquire 70.52% stake in Digital Publishing Initiatives Japan Co., Ltd. from Innovation Network Corporation of Japan for ¥7.8 billion.
February 27, 2017
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Media Do Co., Ltd. (TSE:3678) agreed to acquire 70.52% stake in Digital Publishing Initiatives Japan Co., Ltd. from Innovation Network Corporation of Japan for ¥7.8 billion on February 28, 2017. Under the terms, Media Do Co., Ltd. will acquire 0.07 million shares of Digital Publishing Initiatives Japan Co., Ltd. As part of consideration, financial advisory fee of approximately ¥100 million will be paid. Digital Publishing Initiatives Japan Co., Ltd. reported net assets of ¥3.5 billion, total assets of ¥8.2 billion, net sales of ¥14.6 billion, operating income of approximately ¥630 million and net income of approximately ¥770 million as of March 31, 2016. The transaction is funded entirely by debt. The transaction is subject to approval of Japan Fair Trade Commission. Under the terms of the management change on March 31, 2016, Yasushi Fujita is appointed as a Representative Director and Chairman, Shin Niina appointed as a Representative Director and President, Katsumi Hirookaas a Representative Director and Vice-President, Director Atsushi Mizoguchi (Media Do Co., Ltd.’s Director and Head of Business Development), Director Osamu Yamamoto (Media Do Co., Ltd.’s Director and Head of Business Planning Office), Director Makoto Katayama (Media Do Co., Ltd.’s Executive Officer) and Auditor Yoshiyuki Suzuki (Media Do Co., Ltd.’s Director and Head of Management).
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 70.52% stake in Digital Publishing Initiatives Japan Co., Ltd. from Innovation Network Corporation of Japan for ¥7.8 billion.