Broadmedia Corporation [4347.T]
TOKYO, Mar 31 (Pulse News Wire) – Broadmedia Corporation (4347.T) announced today that it has transferred all its shares in related company Galapon Co., Ltd. to Galapon Co., Ltd., making Galapon Co., Ltd.
No longer a related company under the equity method. Galapon Co., Ltd., located at 14-10 Second Denpa Building, 8th Floor, Tokyo, Chiyoda Ku Sotokanda Ni Choume, was established on March 25, 2010, with a capital of ¥24.7 million. Its main business involves planning, designing, and selling communication devices such as Galapon TV. Prior to the share transfer, Broadmedia held A-type preferred shares amounting to 5,300 (with a voting rights stake of 35.4%).
Following the transfer, Broadmedia's holding dropped to zero shares (voting rights stake of 0.0%). As part of portfolio adjustments within the group and optimal allocation of management resources, Broadmedia decided to participate in Galapon’s own share repurchase program, leading to the complete transfer of its holdings. This transaction is expected to result in approximately 95 million yen in extraordinary gains for Broadmedia's individual financial statements for the fiscal year ending March 31, 2026. However, due to consolidation accounting principles, this gain will offset against losses elsewhere, having a negligible impact on consolidated earnings.
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