Freebit Co., Ltd. (3843) said its wholly owned subsidiary GigaPrize Co., Ltd. will acquire all 18,500 outstanding shares of Rinekuto Co., Ltd., a Kumamoto-based internet service provider for apartment buildings, for an undisclosed price, with the share transfer scheduled for Nov. 2, 2026.
Freebit's board approved the deal on Oct. 22, 2026. GigaPrize held no Rinekuto shares before the transaction and will own 100% of the voting rights afterward. The purchase price was withheld by agreement with the sellers; Freebit said it was set through negotiations based on the results of third-party due diligence.
The sellers are an individual shareholder holding 67.0%, Meiwa Fudosan Co., Ltd. with 23.0%, and Rinekuto's representative director with 10.0%, all based in Kumamoto City. Freebit said it has no capital, personnel or business ties with any of them.
Rinekuto, founded on Aug. 3, 1985 and headquartered in Kumamoto City, provides internet services similar to GigaPrize's nationwide, centered on Kumamoto Prefecture. It has capital of ¥10 million.
| Item | FY12/2023 | FY12/2024 | FY12/2025 |
|---|---|---|---|
| Net sales | ¥448 million | ¥455 million | ¥481 million |
| Operating profit | ¥76 million | ¥78 million | ¥76 million |
| Net profit | ¥49 million | ¥50 million | ¥52 million |
Freebit said growth in the apartment internet market is slowing, with intensifying competition for orders at existing properties, and that GigaPrize plans to use M&A alongside a stronger sales force to expand its scale and market share. The company also expects the deal to add to joint group procurement of fixed lines under its capital and business alliance with SoftBank Corp., expanding economies of scale and lowering procurement costs.
Freebit expects the impact on its consolidated results for the fiscal year ending April 2027 to be minor.
The share transfer agreement was scheduled to be signed on Oct. 22, 2026, with the transfer of shares set for Nov. 2, 2026. Freebit said it will promptly disclose any further matters requiring announcement.
| 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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