UT Group Co., Ltd. cancelled the acquisition of Support System, K.K. from Akira Matsumoto.
January 30, 2021
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UT Group Co., Ltd. (TSE:2146) signed a share transfer agreement to acquire Support System, K.K. from Akira Matsumoto for ¥1.1 billion on January 31, 2020. Post completion, Support System will operate as a subsidiary of UT Group. For the year ending September 2019, Support System reported sales of ¥3.5 billion, operating profit of ¥91 million and net income of ¥59 million. As of year ending September 2019, Support System reported total assets of ¥802 million and net assets of ¥422 million. The Board of Directors of UT Group passed a resolution for the deal on January 31, 2020. The planned stock transfer execution date is March 2, 2020. The impact of this matter on consolidated business results for the current term is insignificant.
UT Group Co., Ltd. (TSE:2146) cancelled the acquisition of Support System, K.K. from Akira Matsumoto on January 31, 2021.
UT Group Co., Ltd. is a Japan-based company engaged in the indefinite employment and dispatch business for the manufacturing, design, development and construction industry. The Company operates in three business segments. Manufacturing segment is involved in the provision of temporary staffing, contracting and human resources services for the manufacturing industry. Its main customers include domestic semiconductors, electronics, automobiles, building materials and housing equipment companies. Solution segment is involved in the provision of employment dispatch, contracting for transfer in line with structural reforms for main manufacturing companies. Its main customers are major electronics manufacturers in Japan. Engineering segment is engaged in the provision of engineer dispatch, contracting and human resources services for electro-mechanical companies. Its main customers are manufacturers and general contractors.
UT GROUP CO.,LTD. 
