According to one exclusive media outlet report by 'Star News' on September 23, former IZ*ONE member Miyawaki Sakura has now finalized her exclusive contract with Source Music, under HYBE Labels.

Previously, news that Miyawaki Sakura was recruited by HYBE Labels in order to debut in a permanent Korean girl group made major headlines. In response to the rumors, HYBE Labels maintained a highly neutral stance and declined from making any significant comments. Then, back on August 27, Miyawaki Sakura was seen returning to Korea for the first time since IZ*ONE's disbandment, allegedly escorted by the same security team which manages BTS. 

'Star News' now believes that Miyawaki Sakura has formally signed an exclusive contract with Source Music, after handling various issued related to the idol's copyright claims by her Japanese agency. 

[UPDATE] In response to the above report by 'Star News', a representative of HYBE Labels has once again issued the following statement: "We cannot confirm any details regarding an artist's exclusive contract."

Meanwhile, another former IZ*ONE member, Kim Chae Won, is said to have signed with Source Music recently, in order to debut in the same new girl group as Miyawaki Sakura. Former 'Produce 48' contestant Heo Yun Jin, a trainee at Pledis Entertainment, has likewise been transferred to Source Music as a strong candidate for the upcoming girl group as well. 

On the other hand, news surrounding another former IZ*ONE member tapped by HYBE Labels, Kim Min Ju, remains "foggy". Reportedly, HYBE Labels is still pursuing talks with Kim Min Ju over the possibility of her joining the new Source Music girl group.

Finally, 'Star News' has reported that the upcoming Source Music girl group with Miyawaki Sakura, Kim Chae Won, and Heo Yun Jin will likely be made up of 6-members overall. The group is a separate project from the Source Music team handled by former SM Entertainment director Min Hee Jin, known as the mastermind behind f(x).