Japan PC Service Co., Ltd. (NSE:6025) and AXIS Co., Ltd. concluded a business transfer basic agreement to acquire smartphone repair business from smapho station Inc. on December 3, 2019. Under the terms of the transaction, Japan PC Service Co., Ltd. will own 90% stake and the remaining 10% stake will be owned by AXIS Co., Ltd. Japan PC Service does not require any new funding and is planning to settle the transaction with cash on hand. The smartphone repair business generated ¥86.3 million for FY December 2018. The Board of Directors of Japan PC Service Co., Ltd. resolved the transaction on December 3, 2019.