PR TIMES Corporation acquired 70% stake in NAVICUS Co., Ltd. from Kazuya Takeuchi on December 1, 2023.
December 30, 2023
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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.
PR TIMES Corporation (TSE:3922) completed the acquisition of 70% stake in NAVICUS Co., Ltd. from Kazuya Takeuchi on December 1, 2023.
PR Times Corp is a Japan-based company mainly engaged in the platform business that connects companies, media and consumers with news, with the provision of news release distribution service PR TIMES as the core of its business. The News Release Distribution business segment provides services through PR TIMES. Its users use PR TIMES in news spreading, such as publish of new products and services, notice of events and campaign, and performance trends release to get a high return on investment. In addition to PR TIMES, the services provided include the task/project management tool Jooto and the customer support tool Tayori. It also operates several news media for consumers, such as isuta and TECHABLE.