Hong Kong-listed Hikari Tsushin International Ltd. said Wednesday it has agreed to buy stakes in six Internet companies held by its Japanese parent Hikari Tsushin Inc. for $30 million.
A deposit of $10 million was paid to the parent Tuesday after the deal was signed, Hikari Tsushin International said in a statement.
Under the agreement, the Hong Kong unit will acquire a 14.57 percent stake in the entertainment Internet portal STAREASTnet.com Corp., a 14.5 percent stake in application solution provider Outblaze Ltd., and a 14.65 percent stake in 8848.net Inc., which provides business-to-business services.
Hikari Tsushin International will also buy a 0.95 percent stake in Chinese-language portal Sohu.com Inc., a 9.7 percent stake in Internet service provider @Network.Inc., and a 2.18 percent stake in application service provider TOeCom Inc.