IG Port and Sanrio forge capital and business alliance

IG Port (TSE:3791) announced a capital and business alliance agreement with Sanrio, the entertainment company known for Hello Kitty, aiming to create diverse IP and enhance development in animation and gaming. As part of the agreement, IG Port will allocate 929,100 shares of its treasury stock to Sanrio through a third-party allotment at JPY1,750 per share, raising JPY1,625,925,000. Existing shareholders, Mitsuhisa Ishikawa and i. style Co., Ltd., will also offer 78,900 shares for sale to Sanrio at the same price. As a result of the third-party allotment, Sanrio will become a major shareholder of IG Port, owning approximately 4.98% of the outstanding shares, while the shareholdings of Dentsu Group and Nippon Television Network Corporation will decrease. The funds raised will be used for strategic investments in animation production and infrastructure development. The transaction is expected to close on July 3, 2025.