HOTLAND Co.,Ltd. (TSE:3196) acquired Iteam, Inc. for approximately ¥480 million on October 1, 2018. HOTLAND Co.,Ltd. acquired 200 shares of Iteam, Inc. After the transaction, Iteam, Inc. operates as a subsidiary of HOTLAND Co.,Ltd. Iteam, Inc. reported net assets of ¥183 million and total assets of ¥228 million as at March 31, 2018. Iteam, Inc. reported sales of ¥441 million, operating income of ¥15 million and net income of ¥5 million during the year ending March 31, 2018. The due diligence and advisory expenses amounted to ¥29 million. The Board of Directors passed a resolution for the transaction on October 1, 2018. HOTLAND Co.,Ltd. (TSE:3196) completed the acquisition of Iteam, Inc. on October 1, 2018.