TOKYO, Apr 13 (Pulse News Wire) – UNITED,Inc. (2497.T) decided to divest part of its equity in subsidiary Foggs Corp., transitioning it from a consolidated subsidiary to an equity-method affiliate effective April 21, 2026.
The move follows a series of funding rounds aimed at preparing Foggs for an initial public offering (IPO). As part of the transaction, UNITED sold shares to Nisshin Capital 15th Investment Limited Partnership and TBS Innovation Partners III Investment Fund, reducing its voting rights shareholding to 43.51%. Foggs was established in 2013 and operates online lottery services and official merchandise sales.
It currently holds a capital of ¥100 million (as of April 13, 2026). In recent years, the company reported revenues of ¥1.139 billion, ¥1.330 billion, and ¥2.354 billion for fiscal years ending March 2023, 2024, and 2025 respectively. The sale involves transferring 967 shares to the investors, with the exact price undisclosed due to confidentiality agreements but determined fairly through mutual agreement.
Following the transaction, UNITED's holding will decrease further as additional funding rounds proceed.
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