Photosynth Inc. (4379), maker of the Akerun access-control system, said Oct. 15 it will acquire all shares of fitness operators GOODLIFE and GDS for ¥560 million and merge the two on Dec. 1, 2026.
GOODLIFE operates GOODLIFE GYM, a monthly-membership chain where one trainer coaches up to four members at once, with 12 directly run and 49 franchised outlets centered on the Tokyo area. It reported revenue of ¥381.4 million and net income of ¥4.0 million for the year ended December 2025. GDS runs four THE PORT Personal Pilates machine Pilates studios and one TUNE STRETCH stretching gym, with revenue of ¥42.3 million and a net loss of ¥1.37 million for the year ended January 2026.
Both companies are wholly owned by their representative director, who has no capital, personnel or business ties to Photosynth. The price breaks down into ¥400 million for GOODLIFE and ¥160 million for GDS; including estimated acquisition costs of ¥45 million, the total is about ¥605 million. Photosynth will fund the deal entirely with loans from financial institutions and will not issue new shares.
The deal is part of the 1st Party M&A policy in Photosynth's medium-term plan announced Feb. 13, 2026, under which it buys staffed store operators and adds its own automation tools. It plans to use its Akerun, Migakun and fixU services to automate or outsource off-hours operations and non-core work such as cleaning and reception while keeping trainer-led services, and to use the outlets as a testing ground.
GOODLIFE will be the surviving company and GDS will be dissolved, with no shares allotted in the merger. Photosynth said the impact on its consolidated forecast for the year ending December 2026 is under review, and it expects the merger itself to have a minor effect.
The share transfer is scheduled for Nov. 1, 2026, and the merger is set to take effect Dec. 1, 2026. Photosynth will disclose the earnings impact once it is determined.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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