NCXX Group Inc. and Sequedge Investment Inc. completed the acquisition of TITICACA, Co. Ltd. from Village Vanguard CO.,LTD..
August 31, 2016
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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.
NCXX Group Inc. (JASDAQ:6634) and Sequedge Investment Inc. completed the acquisition of TITICACA, Co. Ltd. from Village Vanguard CO.,LTD. (JASDAQ:2769) on August 1, 2016.
NCXX Group Inc is a Japan-based company engaged in Internet of Things (IoT) business, Internet travel business, brand retail platform business, virtual currency block chain business and other business. The Company operates through five business segments. The Brand Retail Platform segment is engaged in retail of general merchandise and clothing, restaurant business, and others. The Internet Travel segment is engaged in the provision of e-marketplace operation for travel-related products, travel agency service and others. The IoT segment is engaged in the development and sales of communication devices using wireless system, the provision of system solution and maintenance service and others. The Virtual Currency Block Chain segment is engaged in the investment in cryptocurrencies, the development and operation of derivative products and others. The Others segment is engaged in the provision of consulting services in financial strategy, business strategy and recruitment support area.