T-Gaia Corporation (TSE:3738) entered into an agreement to acquire QUO CARD Co., Ltd. from SCSK Corporation (TSE:9719) for ¥22.5 billion on October 30, 2017. Under the agreement, T-Gaia Corporation will acquire 9160 shares representing 100% stake of QUO CARD Co., Ltd. As of March 31, 2017, QUO CARD Co., Ltd reported net assets of ¥11 billion and total assets of ¥109.3 billion. QUO CARD Co., Ltd reported net sales of ¥3.3 billion and operating profit of ¥280 million during the year ending March 31, 2017. Takashi Kobayashi will serve as representative Director and Chairman, Tsuyoshi Konda will serve as representative Director and President of QUO CARD Co., Ltd., Nobutaka Kanaji, Koich Shimada and Soichiro Tada will serve as part-time Directors of QUO CARD Co., Ltd. on completion of the transaction. As of October 30, 2017, Board of Directors of SCSK Corporation approved the transaction. The transaction is expected to complete on December 1, 2017. Frontier Management Inc., acted as the third party evaluation organization for T-Gaia Corporation.

T-Gaia Corporation (TSE:3738) completed the acquisition of QUO CARD Co., Ltd. from SCSK Corporation (TSE:9719) on December 1, 2017.