TokyoTsushin, Inc. reached an agreement Tiphereth Co., Ltd. from CAM, Inc. for ¥2 billion.
March 30, 2021
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TokyoTsushin, Inc. (TSE:7359) reached an agreement Tiphereth Co., Ltd. from CAM, Inc. for ¥2 billion in February 2021. Under the terms of the transaction, TokyoTsushin, Inc. will acquire 60 shares for ¥1.99 billion. TokyoTsushin, Inc. (TSE:7359) signed a contract to acquire Tiphereth Co., Ltd. from CAM, Inc. on March 31, 2021. The transaction will be funded from the funds borrowed from Mizuho Bank, Ltd. for ¥2 billion. Post-closing, Tiphereth Co., Ltd. will become a wholly owned subsidiary of TokyoTsushin, Inc. For the fiscal year ending September 2020, Tiphereth Co., Ltd. had net assets of ¥412 million, total assets of ¥562 million, sales of ¥1.8 billion and net profit of ¥404 million. The transaction was resolved by the Board of Directors of TokyoTsushin, Inc. on March 31, 2021. The planned share transfer date April 1, 2021. The advisory expenses in the transaction were ¥8 million.
Tokyo Communications Group Inc, formerly Tokyo Tsushin Inc, is a Japan-based company mainly engaged in the Internet media business, platform business and Internet advertising business. The Company operates through three business segments. Internet Media Business segment provides domestic and overseas casual game applications, hyper-casual game applications, and incentive games in the Play-to-Earn area to smartphone application stores. Platform segment operates a telephone fortune-telling service Charis, providing appraisals for love, work and other troubles. The healthcare business plans and operates OWN., providing health management, training, and e-commerce (EC) sales services. Internet Advertising segment provides advertising distribution, management and operation consulting services, planning and operation of advertising medias, digital marketing business and others. The Company is also engaged in investment, metaverse and digital signage business, and new business development.
TOKYO COMMUNICATIONS GROUP,INC. 
