Bullish indicating open at $55-$60, IPO prices at $37
TOKYO - Harrison Global Holdings Inc. (NASDAQ:BLMZ) has entered into an agreement to acquire a majority stake in Myth Korea Inc., a South Korean company developing a pop culture lifestyle and experiential retail store, according to a press release statement issued Thursday. The micro-cap company, currently valued at $2.74 million, maintains a healthy balance sheet with more cash than debt, though InvestingPro analysis indicates rapid cash utilization.
The Japanese audio production and entertainment company plans to work with Myth Korea to open a Pokémon Card Center in Busan, South Korea by October 2025. This initiative builds on Harrison Global’s previously announced partnership with M-NEXT Holdings Co., Ltd.
The companies aim to develop a new pop culture retail concept in the region, modeled after M-NEXT’s "Ryusei no Arashi" Japanese trading card retail chain.
"This strategic decision to acquire and integrate Myth Korea into the Harrison Global brand reinforces our business foundation in the South Korean market," said Ryoshin Nakade, co-CEO of Harrison Global.
Inhwa Jung, CEO of Myth Korea, described the integration as "a major turning point in our growth strategy," adding that the Pokémon Card Center will provide new experiences for trading card fans in South Korea.
The acquisition represents part of Harrison Global’s strategy to expand the trading card game market in South Korea and promote Japanese pop culture content internationally.
Harrison Global Holdings, formerly known as BloomZ Inc., operates primarily through BloomZ Japan, which focuses on sound production for anime and games, as well as voice actor and VTuber management. The company reported revenue growth of 71% in the last twelve months, though it remains unprofitable with a negative EBITDA of $1.2 million.
In other recent news, Harrison Global Holdings Inc. has announced a strategic partnership with GRAPES Inc., a South Korean company, to develop AI-powered music production and virtual entertainment across various Asian markets. This collaboration aims to establish K-pop and K-culture content infrastructure in regions including Japan, China, the United States, Southeast Asia, and Taiwan. Additionally, Harrison Global has begun due diligence procedures for a potential acquisition of Idealize Co., Ltd., a Japanese company specializing in event operations and audio-visual production. This acquisition could enhance Harrison Global’s capabilities in hosting in-person events featuring VTubers and virtual characters, as well as developing hybrid events combining real-time sound production with live streaming services.
Meanwhile, BloomZ Inc. has been granted a second 180-day extension by the Nasdaq Listing Qualifications Staff to meet the minimum $1.00 per share bid price requirement. This extension allows BloomZ until December 1, 2025, to comply with the criteria necessary for continued listing on the Nasdaq Capital Market. The initial notification of non-compliance was issued on December 2, 2024, and despite efforts, BloomZ was unable to meet the requirement by the initial deadline of June 2, 2025. The second extension provides BloomZ with another opportunity to meet Nasdaq’s listing standards.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.