---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-020313"
form_type: "8-K"
ticker: "HTCR"
cik: "0001892322"
company_name: "HeartCore Enterprises, Inc."
filed_at: "2025-10-31T23:59:59+00:00"
generated_at: "2026-05-17T01:08:46.762657+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# HeartCore sells software subsidiary for ~$12M; shifts to Go IPO consulting

## Summary
- Sold HeartCore Japan to Volaris Group for ¥1.8B (~$12M) in all-cash; closed Oct 31, 2025.
- Proceeds partly fund $0.13/share one-time distribution; record Nov 10, pay Nov 17.
- CEO cites generative AI reshaping software; company will focus on Go IPO consulting.
- Also assessing strategic alternatives to divest 51% stake in Sigmaways.
- Multiple Go IPO clients scheduled for trading in 2026; TSE rule change seen as tailwind.

## SEC filing metadata
- accession: 0001493152-25-020313
- form_type: 8-K
- ticker: HTCR
- cik: 0001892322
- company_name: HeartCore Enterprises, Inc.
- filed_at: 2025-10-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1892322/000149315225020313/0001493152-25-020313-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1892322/000149315225020313/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-020313
- JSON: https://secwatch.observer/filing/0001493152-25-020313.json
- Plain text: https://secwatch.observer/filing/0001493152-25-020313.txt

## Source-grounded claims
- claim_id: df23343ee833f60c1da30a56668b78ad03b2dbae
  claim: HeartCore Enterprises, Inc. completed a disposition involving Smith Japan Holdings KK for ¥1,800,418,650 (equivalent to approximately $12 million) (closed 2025-10-31).
  evidence_excerpt: of HeartCore Inc., a wholly owned subsidiary of the Company (“HeartCore Japan”). Pursuant to the terms of the Purchase Agreement, the purchase price of the Share Purchase is ¥1,800,418,650 (equivalent to approximately $12 million, based on the October 24, 2025 Federal Reserve conversion rate of ¥152.82 = USD $1) (the “Purchase Price”), subject to adjustment as set
  evidence_url: https://www.sec.gov/Archives/edgar/data/1892322/000149315225020313/0001493152-25-020313-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.