Port Inc. (TSE:7047) signed a basic agreement to acquire Syukatsu Kaigi business of Livesense Inc. (TSE:6054) for ¥1.5 billion on March 17, 2020. The acquisition price will be finalized after completion of various scrutiny to be performed in the future. The entire purchase price will be paid in cash and financed mainly by borrowing from financial institutions. As part of the transaction, Livesense will transfer “Syukatsu Kaigi” business operated to the newly-established company to be named 'Syukatsu Kaigi Co., Ltd', which is scheduled for May 1, 2020. Port Inc. will acquire all the shares of the new company from Livesense and make it a wholly owned subsidiary. Syukatsu Kaigi business reported sales of ¥217 million for the fiscal year ended December 2019. As a result of the share acquisition, the number of members has grown to approximately 460,000 in total. The Board of Directors of Port Inc. resolved the transaction on March 17, 2020. The share transfer agreement is planned to be executed in mid April 2020. The planned stock transfer execution date is May 1, 2020. As of June 29, 2020, the expected closing is postponed to July 1, 2020, due to the spread of the new coronavirus infection. The acquisition of the shares will not affect the Port Inc. results for the fiscal year ending March 2020, it will have a significant effect on the business results from the fiscal year ending March 2021.

Port Inc. (TSE:7047) completed the acquisition of Syukatsu Kaigi business of Livesense Inc. (TSE:6054) on July 1, 2020.