RareJob Inc. (TSE:6096) agreed to acquire 49% stake in Borderlink, Inc from Will Group, Inc. (TSE:6089) for approximately ¥930 million on September 21, 2021. As per terms of transaction, RareJob Inc. will acquire 2166 shares. In addition, since the 51% that Will Group, Inc. continues to hold is given a call option that can be exercised after April 1, 2023. As on March 31, 2021, Borderlink, Inc reported net assets of ¥342.795 million, total assets of ¥719.751 million, sales of ¥2576.733 million, operating income of ¥236.145 million and net income of ¥155.822 million. Transaction is expected to complete on October 1, 2021.

In the consolidated financial statements of the Will Group, Inc., Borderlink will continue to be a consolidated subsidiary of the Will Group, Inc. even after the Business Alliance, so the amount equivalent to the gain on sale of shares (after deducting various expenses and taxes) will be used as capital surplus on the consolidated statement of financial position. The impact of this matter on the Will Group, Inc. consolidated business results is expected to be minor.