Media Do Co., Ltd. concluded a contract to acquire entertainment business from Altra Entertainment Co., Ltd. for ¥800 million.
February 21, 2017
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Media Do Co., Ltd. (TSE:3678) concluded a contract to acquire entertainment business from Altra Entertainment Co., Ltd. for ¥800 million on February 22, 2017. Media Do Co., Ltd will pay the consideration in cash and will fund the transaction through bank loans. The Board of Directors of Media Do Co., Ltd passed a resolution for the transaction on February 22, 2017. The transaction is expected to be completed by end of April 2017.
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.