Scala, Inc. cancelled the acquisition of Jay Phoenix Research Corporation from Osamu Miyashita.
August 29, 2020
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Scala, Inc. (TSE:4845) signed a basic agreement to acquire Jay Phoenix Research Corporation from Osamu Miyashita for approximately ¥250 million on August 14, 2019. The share exchange agreement was signed on August 30, 2019. As consideration, Scala, Inc. will acquire 200 shares of Jay Phoenix Research and will issue 1225 shares for each share of Jay Phoenix Research Corporation and will issue 0.25 million shares in total as consideration. After the transaction, Jay Phoenix Research Corporation will operate as a wholly owned subsidiary of Scala, Inc. Jay Phoenix Research Co., Ltd. reported net assets of ¥41 million and total assets of ¥58 million as at December 31, 2018. Jay Phoenix Research Co., Ltd. reported revenues of ¥66 million, operating loss of ¥2 million and net loss of ¥3 million in 2018. The Board of Directors of Scala, Inc. passed a resolution for the transaction on August 14, 2019. The transaction does not require approval of shareholders of Scala, Inc. The transaction is approved by the board of directors of Scala on August 30, 2019. The transaction is expected to be completed in late September 2019. As of August 30, 2019, the transaction is excepted to close on September 30, 2019. Eguro Certified Public Accountant Office acted as the third party valuer.
Scala, Inc. (TSE:4845) cancelled the acquisition of Jay Phoenix Research Corporation from Osamu Miyashita on August 30, 2020.
Scala Inc is a Japan-based company mainly engaged in the software as a service (SaaS) and application service provider (ASP) business, the sales force automation (SFA) business and others. The Company has four business segments. The SaaS/ASP segment is engaged in the provision of SaaS and ASP type services that support communication between companies and people such as i-search and i-ask. The SFA segment is engaged in the license sale of sales support systems, the provision of cloud services, customized development services, sales consulting and skill training services. The Field Marketing segment is engaged in the provision of field activities and market research services. The Customer Support segment is engaged in the provision of customer support consulting services for call centers. The Company is also engaged in the operation of electronic commerce (EC) sites, the planning, editing and publishing of business books, the provision of recruitment and employment services and others.
SCALA, INC. 
