en-japan acquires The Capstone Group Recruitment and Consulting (Thailand) Ltd
en-japan has announced it has signed a share transfer agreement with The Capstone Group Recruitment and Consulting (Thailand) Ltd. (hereinafter called R&C) today to acquire shares of the company and make it en-japan’s subsidiary.
1. Purpose of making R&C a subsidiary
en-japan inc. has been working on global business deployment as one of the key strategies to achieve further growth.
We currently have seven locations in the Asia Pacific region, utilizing resources and knowhow of en world Japan K.K., a recruitment service provider for global companies, which became a subsidiary of en-japan in 2010.
Thailand has a large economic scale, boasting the second highest GDP in ASEAN countries (nominal GDP in 2011. Source: JETRO). The salary level of corporate management-level employees in Thailand is higher than in other countries in the region. The recruiting market continues growing in the country as well.
R&C is operating since 200 in Thailand with main focus on recruiting business. Having excellent talent, it is strong in introducing management-level employees and especially executives and highly-paid professionals.
In addition to the economic growth in Thailand, many Japan-based and global companies have been operating business in the country. As we can expect synergy effect attained with en-japan group’s customer assets and knowhow, we believe that this investment will further drive significant growth of R&C.
Because global business deployment with focus on the Asia Pacific region is one of our key strategies, we will continue expanding business in this area for further growth
2. Overview of acquisition
Shares will be acquired by three companies: en-japan, its consolidated subsidiary en-Asia holdings Ltd., and En Holdings (Thailand) Ltd. (tentative name), which is scheduled to be established in mid November 2013. The details about share acquisition are as follows:
Based on the share transfer agreement signed today, en-japan and its consolidated subsidiary en-Asia holdings Ltd. will acquire 49.0% of all the issued shares of R&C from its shareholders.
En Holdings (Thailand) Ltd. (tentative name), which is scheduled to be established in mid November 2013, will acquire 24.99% of all the issued shares of R&C near the end of November through the company.
Along with this acquisition of shares, business property of The Capstone Group Holding (Thailand) Ltd. and TopTalent Asia Ltd. owned by R&C representative Carl Denny will be transferred to R&C.
Therefore, the figures shown in the table below indicate the combined sales and number of employees of the three companies.
3. Overview of company to be acquired
(As of December 31, 2012)
(1) Company name
The Capstone Group Recruitment and Consulting (Thailand) Limited
(3) Head office address
Sukhumvit Soi 13 Bangkok, Thailand
(5) Main business
Job Placement, temporary staffingService
Approx. 13 million JPY* (4,000 thousand THB)
December 2012: Approx. 154 million JPY * (48,000 thousand THB)
(8) Fiscal year end
(9) Number of employees
27 (as of September 2013)
(10) Relationship with en-japan inc.
Capital relationship Not applicable
Personnel relationship Not applicable
Business relationship Not applicable