Japan Elevator Service Holdings Co.,Ltd. (TSE:6544) agreed to acquire a 51.66% stake in EVOTECH Co., Ltd. on February 16, 2022. Upon completion, Japan Elevator Service Holdings Co. will own 51.66% stake in EVOTECH, making it a subsidiary.

The impact of this acquisition on the consolidated financial results of Japan Elevator Service Holdings Co. for the current fiscal year will be minor.