fonfun corporation (TSE:2323) agreed to acquire Selfree LLC from Hayato Omata and Yusuke Hata for approximately ¥450 million on June 19, 2024. A cash consideration of ¥447 million will be paid by fonfun corporation. As part of consideration, ¥447 million is paid towards common equity of Selfree LLC.

For the period ending June 30, 2023, Selfree LLC reported total revenue of ¥193 million, EBIT of ¥41 million and net income of ¥32 million. As of June 30, 2023, Selfree LLC reported total assets of ¥143 million and total common equity of ¥95 million.

The expected completion of the transaction is July 1, 2024.