U-NEXT Co., Ltd. agreed to acquire Premium Platform Japan ,Inc from group of sellers on February 17, 2023. Merger will take effect on the condition that the Share Exchange takes effect will become a wholly-owned subsidiary. PPJ has net worth of JPY 6.066 billion, total asserts of JPY 7.599 billion, and operating loss of JPY 738 million.

Post acquisition U-NEXT Co., Ltd. hold 97.31%, TBS Holdings Inc. 2.25% and Hakuhodo DY Media Partners Inc. 0.44%. The transaction is expected to close on March 31, 2023. DC Advisory Japan acted as a financial advisor to U-NEXT Co., Ltd.