Expansion of the Freelance Engineer Business Through Making UPTORY a Wholly Owned Subsidiary
First written in FY2023-Q3. 1 of 2 entries say "Restated". Latest entry: FY2023.
0 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「株式会社UPTORY operates a business similar to Midworks, matching IT engineers with companies. Although it was established on 1 February 2018 and is still a relatively young company, it has unique customer networks and expertise in the field of freelance IT engineers working fully remotely.」
Following the acquisition of UPTORY as a wholly owned subsidiary, the Company continues to disclose its plan to expand the business by combining UPTORY's customer networks and expertise in fully remote freelance IT engineering with Midworks. - FY2023-Q3First statedAnnual report
「株式会社UPTORY operates a business similar to Midworks, matching IT engineers with companies. Although it was established on 1 February 2018 and is still a relatively young company, it has unique customer networks and expertise in the field of freelance IT engineers working fully remotely. Through this M&A, the Company expects to generate cross-selling opportunities by combining the two companies' customer bases and IT engineer databases, enabling both companies to further expand their businesses.」
On 28 April 2023, the Company acquired shares of UPTORY and made it a subsidiary with a 100% voting interest. It expects to generate cross-selling opportunities, strengthen sales and recruitment capabilities, and broaden customer access by combining UPTORY's customer networks and expertise in fully remote freelance IT engineering with Midworks' expertise and resources. The acquisition consideration was ¥122.5 million, and goodwill of ¥81.669 million was recognized.