Softfront Holdings Co., Ltd. acquired the remaining 59.02% stake in Digital Post Co., Ltd. from Flight Holdings Inc., TOKYO Lithmatic Corporation and Oak Capital Corporation.
September 25, 2019
Share
Softfront Holdings Co., Ltd. (JASDAQ:2321) acquired the remaining 59.02% stake in Digital Post Co., Ltd. from Flight Holdings Inc. (TSE:3753), TOKYO Lithmatic Corporation and Oak Capital Corporation (TSE:3113) on September 26, 2019. As per the share transfer agreement, Softfront Holdings shall acquire 2,160 shares of Digital Post. Flight Holdings shall sell 437 shares, Oak Capital shall sell 1,323 shares and TOKYO Lithmatic Corporation shall sell 400 shares of Digital Post, respectively. Prior to the transaction, Softfront Holdings held 40.98% stake, Flight Holdings held 11.94% stake, TOKYO Lithmatic Corporation held 10.93% stake and Oak Capital held 36.15% stake in Digital Post, respectively. Post transaction, Softfront Holdings holds the entire stake in Digital Post. In a related deal, Sourcenext Corporation agreed to acquire the entire business of Digital Post on September 26, 2019. For the period ended March 2019, Digital Post reported net liabilities of ¥14 million, total assets of ¥4 million, sales of ¥50 million, operating loss of ¥23 million and net loss of ¥24 million.
Softfront Holdings Co., Ltd. (JASDAQ:2321) completed the acquisition of remaining 59.02% stake in Digital Post Co., Ltd. from Flight Holdings Inc. (TSE:3753), TOKYO Lithmatic Corporation and Oak Capital Corporation (TSE:3113) on September 26, 2019.
Softfront Holdings is a Japan-based software company. The Company operates through one business segment. The Communication Platform Related Business segment is engaged in the provision of communication software and services. The Company is also engaged in the provision of content management systems and the intermediary sales business through subsidiaries.
Softfront Holdings Co., Ltd. acquired the remaining 59.02% stake in Digital Post Co., Ltd. from Flight Holdings Inc., TOKYO Lithmatic Corporation and Oak Capital Corporation.