Ryuhei Shinohara agreed to acquire an additional 49.5% stake in MinervaGrandir Co., Ltd. from System Location Co.,Ltd. for ¥9.3 million.
May 27, 2021
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Ryuhei Shinohara agreed to acquire an additional 49.5% stake in MinervaGrandir Co., Ltd. from System Location Co.,Ltd. (JASDAQ:2480) for ¥9.3 million on May 28, 2021. System Location will exit its stake completely. For fiscal year ending September 2020, MinervaGrandir had revenues of ¥86 million, total assets of ¥36 million, net assets of ¥17.4 million, operating income of ¥5 million and net income of ¥6.2 million. Transaction is expected to be completed on June 1, 2021. Impact of the transaction will be minor for System Location.
System Location Co Ltd is a Japan-based cloud-based business process outsourcing (BPO) service company for automotive-related businesses. It provides systems operation support services. It provides automotive-related businesses with a used vehicle value evaluation and calculation system that is built by feeding back information, mainly on used car market prices. The products include RV Doctor, PV Doctor, vehicle catalog database, SysRocket, CA Doctor, CAV Monitor, and an Internet/intranet residual value finance quotation proposal system. It also provides solutions for car dealerships, planning, design, development, operation, and maintenance services for IT systems in Japan, support for automotive finance businesses in China, automotive content development business and system services for automotive-related businesses in Korea, and recruits franchisees for car leasing and rental dealers and provides consulting to franchisees in Japan.