PR TIMES Corporation (TSE:3922) entered into stock transfer agreement to acquire 70% stake in NAVICUS Co., Ltd. from Kazuya Takeuchi for ¥35.4 million on November 20, 2023. As part of acquisition, 7 shares will be acquired. PR TIMES Corporation will issue 20,971 common shares as part of consideration.

For period ended September 2023, NAVICUS reported net assets of -¥57.6 million, total assets of ¥108.2 million, sales of ¥547.7 million, operating loss of ¥29.8 million and net loss of ¥35.3 million. The transaction is expected to complete on December 1, 2023.