Media Do Co., Ltd. entered into an agreement to acquire Flier inc. from Yasushi Ohga, Akifumi Kanda, East Ventures Fund, fund managed by East Ventures, Genuine Startups Fund I L.P., fund managed by CyberAgent Ventures, Inc. and Genuine Startups Ltd., and others for approximately ¥400 million.
October 17, 2016
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Media Do Co., Ltd. (TSE:3678) entered into an agreement to acquire Flier inc. from Yasushi Ohga, Akifumi Kanda, East Ventures Fund, fund managed by East Ventures, Genuine Startups Fund I L.P., fund managed by CyberAgent Ventures, Inc. and Genuine Startups Ltd., and others for approximately ¥400 million on October 18, 2016. Under the terms of the transaction, Media Do will acquire 690 shares for ¥360 million and convertible bonds for ¥39.7 million convertible into 76 shares from Genuine Startups Fund I L.P., fund managed by CyberAgent Ventures, Inc. and Genuine Startups Ltd. As a part of the transaction, Media Do will pay ¥8 million as advisory expenses. Flier reported net liabilities ¥1 million, total assets of ¥30 million, sales of ¥75 million, operating profit of ¥0, for the period ending May 2016. The transaction is expected to be closed on November 1, 2016.
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. entered into an agreement to acquire Flier inc. from Yasushi Ohga, Akifumi Kanda, East Ventures Fund, fund managed by East Ventures, Genuine Startups Fund I L.P., fund managed by CyberAgent Ventures, Inc. and Genuine Startups Ltd., and others for approximately ¥400 million.
MEDIA DO CO., LTD. 
