ZIGExN Co., Ltd. agreed to acquire 66% stake in Hoken-Mammoth from Toru Furukawa for ¥660 million.
Published on 2024-08-18 at 18:00
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ZIGExN Co., Ltd. (TSE:3679) agreed to acquire 66% stake in Hoken-Mammoth from Toru Furukawa for ¥660 million on August 19, 2024. A cash consideration of ¥660 million will be paid by ZIGExN Co., Ltd. As part of consideration, ¥660 million is paid towards common equity of Hoken-Mammoth.
For the period ending March 31, 2024, Hoken-Mammoth reported total revenue of ¥823 million and EBIT of ¥11 million.
The expected completion of the transaction is August 30, 2024.
ZIGExN Co.,Ltd. is a Japan-based company primarily engaged in life media platform business which integrates the information on multiple media. The Company operates in two business segments. Its Life Media Platform segment is engaged in the development, operation and maintenance of media that integrate information from multiple Internet and paper media, specialized media that matches users and customers for specific industries and regions, as well as application Service provider (ASP) services. The Life Media Platform segment includes three fields: human resources field, real estate field and living field. The Others segment is engaged in the plan, development, operation and maintenance of new development services centered on the user billing model, leveraging the knowledge of the existing life media platform business.
