Photosynth, the Tokyo Growth-listed maker of the Akerun entry-management system, has resolved to buy all the shares in two fitness operators, GOODLIFE and GDS, for ¥560mn. Its board approved the purchase on 15 October 2026, and the notice lists contract signing for the same day as planned.
The price and the funding
The consideration is ¥400mn for GOODLIFE and ¥160mn for GDS. Acquisition-related costs of about ¥45mn come on top, an estimate that takes the approximate total to ¥605mn. Photosynth plans to fund the price entirely with bank borrowings, so no new shares will be issued. The seller is an individual who owns 100% of both companies and has no stated capital, personnel or trading ties to Photosynth.
The share transfer is planned for 1 November 2026. GDS is then due to be absorbed into GOODLIFE on 1 December 2026, with GDS dissolved. The effect on Photosynth's 2026 consolidated forecast is still being assessed.
What Photosynth is buying
GOODLIFE runs the GOODLIFE GYM semi-personal gyms, with 12 company-owned stores and 49 franchised ones. GDS operates four owned THE PORT Personal Pilates studios and one owned TUNE STRETCH gym. GOODLIFE reported sales of ¥381.4mn and an operating profit of ¥4.4mn for 2025. GDS, set up in February 2024, had sales of ¥42.3mn and an operating loss of ¥1.3mn in the year to January 2026.
The experiment
Photosynth says it wants to keep trainers in place while using Akerun, Migakun and fixU to make previously idle hours unmanned, and to unman or outsource non-core work such as cleaning and reception. It expects longer opening hours to widen revenue and improve store margins. It also wants the stores to serve as a proving ground for a package aimed at the fitness industry, to generate demand for its Akerun business. These are stated aims. The notice reports no savings or uptime figures.