K’s Factory Co., Ltd. signed a basic agreement to acquire Kinton Japan Co., Ltd. from Digital Adventure, Inc. for ¥30 million.
April 17, 2013 at 12:00 am EDT
Share
K's Factory Co., Ltd. signed a basic agreement to acquire Kinton Japan Co., Ltd. from Digital Adventure, Inc. (JASDAQ:4772) for ¥30 million on April 17, 2013. K's Factory will acquire 1,200 shares of Kinton Japan. In a related deal, K's Factory Co., Ltd. signed a basic agreement to acquire ilogos Co., Ltd. from Digital Adventure, Inc. For the year ending December 31, 2012, Kinton Japan Co., Ltd. recorded net liabilities of ¥6.17 million, total assets of ¥85.2 million, revenue of ¥223.21 million, operating loss of ¥19.97 million and net loss of ¥20.13 million. The deal is resolved by Board of Directors of Digital Adventure, Inc. on April 17, 2013. Board of Directors resolution regarding the share transfer agreement is expected in early May 2013 and share transfer date is early May 2013.
As of May 8, 2013, K's Factory Co., Ltd. signed a share sale agreement to acquire Kinton Japan Co., Ltd. from Digital Adventure, Inc. (JASDAQ:4772). As of May 8, 2013, the deal is expected to close on May 9, 2013.
Stream Media Corporation, formerly Digital Adventure, Inc., is engaged in provision of contents business. The Company operates in two business segments. The Rights & Media Communication segments engages in acquisition and commercialization of various rights relating to the drama broadcasting rights and distribution rights of movies, management of artists, operation of fan club and events, as well as sale of products through the Internet and convenience store. The Broadcasting segment is engaged in provision of programs and events at communication satellites (CS) broadcasting. Other business is engaged in contract management business of content distribution and music content business.
STREAM MEDIA CORPORATION 
