ITbook Co.,LTD. (TSE:3742) signed a memorandum of understanding to acquire Something Holdings Co., Ltd. for ¥2.5 billion on April 6, 2018. Contract was signed on May 28, 2018. Under the terms of the acquisition, ITbook Holdings Co., Ltd. will be established by means of joint transfer of shares. 1 common share of ITbook Holdings Co., Ltd. will be allocated for every common share of ITbook Co.,LTD, while 0.95 common share of ITbook Holdings Co., Ltd. will be allocated for every common share of Something Holdings Co., Ltd. Upon completion, ITbook Co.,LTD. and Something Holdings Co., Ltd. will operate as wholly owned subsidiaries of ITbook Holdings Co., Ltd. A management integration contract was also signed. The transaction is subject to the approval of the shareholders of ITbook Co.,LTD. and Something Holdings Co., Ltd. The Board of Directors of ITbook Co.,LTD. and Something Holdings Co., Ltd. made a resolution at their respective meetings held on May 28, 2018. The transaction is expected to close on October 1, 2018. ITbook Holdings Co., Ltd. (TSE:1447) completed the acquisition of Something Holdings Co., Ltd. on September 26, 2018.