Expansion into the automotive maintenance and nursing-care staffing businesses through the acquisition of 大松自動車 as a subsidiary

「The Other business segment remained strong, supported by the overseas expansion of the shop-floor improvement consulting business in countries including Germany, Mexico and Vietnam, as well as contributions from new domestic customers. Orders in the training tour business also remained solid, mainly in the Chinese and Asian markets. In addition, the inclusion of 株式会社平和鉄工所 in the consolidated results contributed to higher revenue.」

「As the civil rehabilitation plan was confirmed under the Civil Rehabilitation Act on 18 June 2019, 株式会社大松自動車 became a subsidiary under the substantive control criterion. On 18 July 2019, following the reduction of capital by 株式会社大松自動車 under the sponsorship agreement, the Group acquired all of its shares by subscribing for a capital increase. The Group acquired the shares to use 株式会社大松自動車’s expertise in automobile maintenance and nursing care, recruit and train foreign personnel from Southeast Asian countries, and provide recruitment services in the automobile maintenance and nursing care businesses, where labor shortages are particularly pronounced.」