Es Networks Tax Corporation agreed to acquire Business succession consulting business of Es Networks Co., Ltd. from es Networks Co., Ltd. for approximately ¥60 million.

es Networks Tax Corporation agreed to acquire Business succession consulting business of Es Networks Co., Ltd. from es Networks Co., Ltd. (TSE:5867) for approximately ¥60 million on June 14, 2024. The consideration will be comprised of cash consideration of ¥60 million and a cash earnout component which will be one year after the closing date, and the amount will be determined in advance depending on the continuation status of the transferred succession contract. As part of consideration, ¥60 million is paid towards assets of Business succession consulting business of Es Networks Co., Ltd. For the period ending December 31, 2023, Business succession consulting business of Es Networks Co., Ltd. reported total revenue of ¥67 million.

The expected completion of the transaction is July 1, 2024.