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MarketScreener Homepage  >  Equities  >  Japan Exchange  >  Change Inc.    3962   JP3507750002

CHANGE INC.

(3962)
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Change : Announcement of the Acquisition of beacapp Inc. (Making it a Subsidiary)

03/05/2021 | 01:03am EDT

March 5, 2021

For Immediate Release

Company

CHANGE Inc.

CEO

Hiroshi Fukudome

(Code: 3962,

First Section of the Tokyo Stock Exchange)

Contact

Yutaka Yamada CFO

(TEL.03-6435-7340)

Announcement of the Acquisition of beacapp Inc. (Making it a Subsidiary)

CHANGE Inc. (hereinafter, the "Company" or simply "we") hereby announce that we made a resolution to acquire shares of beacapp Inc. (hereinafter, "beacapp") and make it a subsidiary at a meeting of the Board of Directors held on March 5, 2021 of which details are as follows:

Details

1. Purposes for acquiring shares

In the future, it is predicted that about 1 out of 2.5 citizens will be older than 65 around 2060, resulting in the world of super-aged society. Under such circumstances, our Group has set "Change People, Change

Business, Change Japan" as our mission, and has been developing businesses to make Japan a sustainable society in a declining population under the vision of "Change of Productivity".

NEW-IT Transformation Business, which we are working on, promotes digital transformation through training in AI/voice Internet, mobility, IoT, big data, cloud, security, services that leverage a variety of algorithms and underlying technologies, and training in the development of digital human resources.

Based on its mission of "visualizing all sites", beacapp has been promoting services that enable corporate customers to visualize the current movement of their employees at the office by using beacons, sensors, and smartphones to transform the world of high-cost and time-consuming IoT into easy and inexpensive tools.

The beacapp's primary service is a cloud service named "BeacappHERE" that can identify location of employees indoors, such as offices, factories, and warehouses, by using beacons and smartphones. Users can easily see where their employees are on the site map displayed on PC or smartphone screens. This enables them to increase the convenience of "non-territorial office" where employees do not have individually assigned desks, analyze how they work at offices, also analyze employees' behavioral data atfactories, and even identify employees who have had close contacts with those who have already been infected by the new Corona virus by visualizing locations of those who shared the same place at the same time with the accumulated beacon log. To realize a digital transformation, it is essential to go through the process of quantitatively analyzing the current situation, finding issues, making assumptions, and proving them. In this regard, beacapp already has the foundation of a digital transformation in a way of creating logs about human and thing's movements in a simple, inexpensive manner and quantitatively grasping their situation on the site.

In addition, the IoT business is a kind of business that utilizes devices, including beacons, sensors and receivers, especially such as smartphones, etc. It is important to maintain accuracy regarding constant detection and ensure availability of huge data. In this field of IoT, beacapp has the following overwhelming advantages followed by the know-how they have accumulated:

  • (i) Choosing the best beacon, designing the installation corresponding to the location, and dealing with the case when the beacon does not detect objects

  • (ii) Application design for improving accuracy for the detection by using the beacon (presently applying for a patent)

  • (iii) Cloud service technologies for storing and processing big data

Furthermore, beacapp has one of the largest track records in Japan in the development/installation/ operation of beacon collaborative apps, and its services have been adopted by large companies in a wide range of industries, including domestic real estate, finance, and manufacturers. According to the survey of

No.1 ranking conducted by Tokyo Shoko Research, Ltd., it was ranked "No.1 in the field of number of users who have adopted the service for directing employees' locations in the office"(based on the research by Tokyo Shoko Research, Ltd. as of December 2020).

By acquiring beacapp, our Group will be able to strengthen use-case development capabilities, acquire cloud service functions, and expand our customer base. We expect to further improve the value of our services and solutions, including operational improvements utilizing log data collected through cloud services.

By adding beacapp in our Group, we will create the digital age in Japan, further raise the flag of "Digitize & Digitalize Japan", and proceed to establish a leadership position in the Japanese DX market.

2. Overview of the subsidiary (beacapp) to be transferred

(1) Name

beacapp Inc.

(2) Address

13-7, Nihonbashi Kakigara-cho 1-chome, Chuo-ku, Tokyo

(3) Title/name of representative

Representative Director, Yu Nakagaki

(4) Description of Businesses

Develop, sell, and operate "BeacappHere" which is a visualization solution on the site, and Beacapp which is a managing beacon platform.

Develop applications using beacon sensors, etc.

(5) Paid-in Capital

9.9 million yen

(6) Date of Incorporation

December 13, 2018

(7) Major shareholders and percentage

of shares

Yu Nakagaki 49.2%

Shota Okamura 37.3%

JMA SYSTEMS CO., LTD. 10%

(8) Listed company and the company

Relationship

Capital relationship

Not applicable.

Human relationships

Not applicable.

Business relationship

Not applicable.

Relevant Status to Relevant

Party

Not applicable.

(9) Operating results and financial position of beacapp for the last two years (Note)

Fiscal year end

Nov. 2019

Nov. 2020

Net assets

12 million yen

40 million yen

Total assets

136 million yen

¥173 million

Net assets per share

12,273 yen

40,974 yen

Net sales

184 million yen

337 million yen

Operating income

3 million yen

41 million yen

Ordinary income

2 million yen

44 million yen

Net income

2 million yen

28 million yen

Net income per share

2,435 yen

28,700 yen

Dividend per share

-

-

-

(Note) As this company was established in December 2018, the results of operations and financial position only for the past two years are presented.

3. Overview of the counterparty regarding the acquisition of shares

(1)Name

Mr. Yu Nakagaki

(2)Address

Matsudo City, Chiba prefecture

(3)Relationship of the individual with the

Company

Mr. Yu Nakagaki is the representative director of beacapp. There are no capital, human relationships, or business relationships that should be stated between the Company and the individual concerned.

(1)Name

Mr. Shota Okamura

(2)Address

Suginami-ku (ward), Tokyo

(3)Relationship of the above individual with the Company

Mr. Shota Okamura is a director of beacapp, Inc. There are no capital, human relationships, or business relationships that should be stated between the Company and the individual concerned.

4. Number of shares acquired, acquisition cost, and status of owned shares before and after the acquisition

(1) Shares owned prior to the

transaction

0 shares (0% of voting rights)

(2) Shares acquired

706 shares (number of voting rights are 706)

(3) Acquisition cost

Not to be disclosed subject to the confidentiality agreement

(Note)

(4) Shares owned after the transaction

706 shares (71.3% of voting rights)

(Note) To ensure fairness and appropriateness, the Company determined the purchase price by taking into account the results of the valuation for shares calculated by the third-party organization.

The acquisition cost is less than 15% of the net assets of the Company at the end of the previous fiscal year.

5. Schedule

(1) Date of the resolution of the Board

of Directors

Resolution of the Board of Directors of the Company made on

March 5, 2021

(2) Agreement date

March 5, 2021

(3) Execution date of the share transfer

March 19, 2021 (scheduled)

6. Earing forecast

We are currently examining the impact of this event on the results of the current period and will inform you of any matters that need to be disclosed in the future.

End

Disclaimer

Change Inc. published this content on 05 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 March 2021 06:02:07 UTC.


© Publicnow 2021
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Sales 2021 16 000 M 147 M 147 M
Net income 2021 3 700 M 34,0 M 34,0 M
Net Debt 2021 - - -
P/E ratio 2021 61,3x
Yield 2021 -
Capitalization 261 B 2 400 M 2 399 M
Capi. / Sales 2021 16,3x
Capi. / Sales 2022 13,7x
Nbr of Employees -
Free-Float 39,9%
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Mean consensus BUY
Number of Analysts 1
Average target price 4 100,00 JPY
Last Close Price 3 595,00 JPY
Spread / Highest target 14,0%
Spread / Average Target 14,0%
Spread / Lowest Target 14,0%
EPS Revisions
Managers and Directors
NameTitle
Hiroshi Fukudome President & Representative Director
Yutaka Yamada Chief Financial Officer & Director
Yoshihisa Jimbo Chairman
Hiroshi Fujiwara Independent Outside Director
Akira Itoh Director, EVP & Manager-NEW IT Unit
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