Right Communication Corporation signed basic agreement to acquire GS Communications Co., Ltd. from Recomm Co., Ltd..
November 24, 2020
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Right Communication Corporation signed basic agreement to acquire GS Communications Co., Ltd. from Recomm Co., Ltd. (JASDAQ:3323) on November 25, 2020. Right Communication Corporation will acquire 60 shares of GS Communications. Share transfer agreement signing date is November 30, 2020. GS Communications reported net assets of ¥80 million, total assets of ¥166 million, sales of ¥505 million, operating profit of ¥20 million and net income of ¥13 million for the year ending, September 30, 2020. The transaction has been approved by the Board of Recomm Co., Ltd. The transaction is expected to close on November 30, 2020.
RECOMM CO., LTD., formerly RECOMM HOLDINGS CO., LTD., is a Japan-based holding company mainly engaged in the information communication equipment business. The Company operates in three business segments. The Information Communication segment sells business phones, digital multifunction peripherals (MFPs) and other office automation (OA) equipment through the Company's operating stores, franchise stores and agencies. The Business Process Outsourcing (BPO) business operates outsourced business from within the group, outsourced business from customers outside the group mainly in China. The Overseas Corporate segment sells eco products such as LEDs and information communication equipment in China and Vietnam.
RECOMM CO., LTD. 
