Worth reading
62In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
599
KRW millionWording
Avoiding a definitive answer
How definitive the wording is.This transaction
Share transferCounterpartyHecto Innovation Co., Ltd.
Disclosing companyJ ESCOM HOLDINGS,INC.
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
Date of board resolution4 September 2026
Contract Date4 September 2026
Execution Date / Effective Date4 September 2026
Target company
Reward advertising business
Location 85 Garosu-gil, Gangnam-gu, Seoul, Republic of KoreaShare capital KRW 2,963,000 thousand (¥311,707 thousand)Date of incorporation 1 September 2020
Net Sales¥220,081 thousand (fiscal year ended December 2025)
Operating profit¥(15,270) thousand (fiscal year ended December 2025)
Net income for the current fiscal year¥(23,270) thousand (fiscal year ended December 2025)
Net assets¥(218,233) thousand (fiscal year ended December 2025)
Consideration and expenses
Acquisition priceKRW 599 million (approximately ¥69 million)
Expenses other than the acquisition priceAdvisory fees (estimated): KRW 188 million (approximately ¥21 million)
Type of ConsiderationCash
Amount of extraordinary income (loss)Gain on the sale of shares in a subsidiary of approximately ¥154 million (consolidated accounting period for the second quarter of the fiscal year ending March 2027)
Impact on Business Performance
The impact on consolidated results for the fiscal year, including the gain on the sale of shares in the subsidiary, is currently under review.
Procedures and assumptions
Management structure after acquisitionMafin inc. and Smartcon inc. are scheduled to be removed from the scope of consolidation at the end of the second quarter of the fiscal year ending March 2027. The Company has also agreed with Hecto to begin discussions aimed at establishing a long-term business cooperation relationship between the two groups.
| Item | Details |
|---|---|
| Transaction name | Share transfer |
| Counterparty name | Hecto Innovation Co., Ltd. |
| Name of the Subject Company | Mafin inc. |
| Business Description of the Subject Company | Reward advertising business |
| Location of the Subject Company | 85 Garosu-gil, Gangnam-gu, Seoul, Republic of Korea |
| Capital Stock of the Subject Company | KRW 2,963,000 thousand (¥311,707 thousand) |
| Date of Establishment of the Subject Company | 1 September 2020 |
| Net Sales of the Subject Company | ¥220,081 thousand (fiscal year ended December 2025) |
| Operating Profit of the Subject Company | ¥(15,270) thousand (fiscal year ended December 2025) |
| Net Income of the Subject Company | ¥(23,270) thousand (fiscal year ended December 2025) |
| Net Assets of the Subject Company | ¥(218,233) thousand (fiscal year ended December 2025) |
| Acquisition price | KRW 599 million (approximately ¥69 million) |
| Expenses other than the acquisition price | Advisory fees (estimated): KRW 188 million (approximately ¥21 million) |
| Type of Consideration | Cash |
| Voting rights ownership percentage | Before 100％ → after 0％ |
| Amount of extraordinary income (loss) | Gain on the sale of shares in a subsidiary of approximately ¥154 million (consolidated accounting period for the second quarter of the fiscal year ending March 2027) |
| Impact on Business Performance | The impact on consolidated results for the fiscal year, including the gain on the sale of shares in the subsidiary, is currently under review. |
| Date of board resolution | 4 September 2026 |
| Contract Date | 4 September 2026 |
| Execution Date / Effective Date | 4 September 2026 |
| Management structure after acquisition | Mafin inc. and Smartcon inc. are scheduled to be removed from the scope of consolidation at the end of the second quarter of the fiscal year ending March 2027. The Company has also agreed with Hecto to begin discussions aimed at establishing a long-term business cooperation relationship between the two groups. |
Items this document does not state (11)
Merger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodNumber of shares acquiredFunding arrangementsGoodwill amountValuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to Execution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The digital gift business in Korea has continued to incur operating losses due to changes in the business environment and other factors, and the digital gift business planned in Japan has already been sold. Accordingly, the Company will transfer all shares in Mafin inc. The Company explained that the proceeds from the transfer will be used to invest in the advertising agency business or the investment business, with the aim of expanding corporate value.
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