NCXX Group Inc. (JASDAQ:6634) and Sequedge Investment Inc. agreed to acquire TITICACA, Co. Ltd. from Village Vanguard CO.,LTD. (JASDAQ:2769) for ¥8.9 million on June 30, 2016. NCXX Group Inc. (JASDAQ:6634) and Sequedge Investment Inc. will acquire 90% and 10% stake in TITICACA for ¥1791 and ¥199.

NCXX group will pay ¥8.9 million for the TITICACA loans owed to Village Vanguard. Village Vanguard will first subscribe to the capital increase of TITICACA on August 1, 2016. After that, Village Vanguard will transfer all shares and loans of TITICACA to NCXX and Sequedge.

Number of shares to be transferred are 1,990 shares. TITICACA reported as of March 2016, negative net assets of ¥2.2 billion, total assets of ¥5 billion, sales of ¥8.3 billion, operating loss of ¥870 million, net loss of ¥2.3 billion and current loss of ¥987 million.