ITbook Co., LTD. (TSE:3742) agreed to acquire RINET Co., Ltd. from Rie Fujita for ¥100 million on August 15, 2018. Upon completion, RINET Co., Ltd. will operate as a wholly owned subsidiary of ITbook Co., LTD. For the fiscal year ending August 2017, RINET Co., Ltd. reported net assets of ¥32.9 million, total assets of ¥0.08 million, sales of ¥307.9 million, operating income of ¥10.7 million and net income of ¥6.4 million. The Board of Directors of ITbook Co., LTD. passed a resolution for the deal on August 15, 2018. The contract signing date is August 24, 2018. The planned share transfer execution date is September 28, 2018. The advisory expenses for the deal is ¥0.8 million. ITbook Co., LTD. (TSE:3742) cancelled the acquisition of RINET Co., Ltd. from Rie Fujita on August 15, 2019.