Money Forward, Inc. completed the acquisition of additional 65.5% stake in R&AC Co., Ltd. from Tomoyasu Takayama, Soichiro Takayama, SAKURA KCS Corporation, Ics Partners Co.,Ltd, Rakus Co., Ltd. and The Independents Angel Investment Limited Liability Partnership.
August 10, 2020
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Money Forward, Inc. (TSE:3994) entered into agreement to acquire additional 65.5% stake in R&AC Co., Ltd. from Tomoyasu Takayama, Soichiro Takayama, SAKURA KCS Corporation (TSE:4761), Ics Partners Co.,Ltd, Rakus Co., Ltd. (TSE:3923) and The Independents Angel Investment Limited Liability Partnership for ¥1.3 billion on July 31, 2020. Money Forward, Inc. will acquire 530 shares in R&AC Co., Ltd. Upon completion, R&AC will operates as subsidiary of Money Forward. R&AC Co reported total revenue of ¥382 million, total assets of ¥452 million, net income of ¥4 million and total common equity of ¥363 million for the year ending September 30, 2019. The acquisition of shares is scheduled for August 2020.
Money Forward, Inc. (TSE:3994) completed the acquisition of additional 65.5% stake in R&AC Co., Ltd. from Tomoyasu Takayama, Soichiro Takayama, SAKURA KCS Corporation (TSE:4761), Ics Partners Co.,Ltd, Rakus Co., Ltd. (TSE:3923) and The Independents Angel Investment Limited Liability Partnership on August 11, 2020.
Money Forward,Inc. is a Japan-based company principally engaged in the platform service business. The Company provides two services. The money forward cloud service is involved in the provision of a cloud enterprise resources planning (ERP) service platform. The platform provides management support for medium-sized and small enterprises to improve efficiency of management and back office operations based on data. The personal financial management (PFM) service is involved in the operation of Money Forward ME platform for solving problems and issues related to personal money through various services.