Following this announcement, J ESCOM HOLDINGS announced that Mafin, a consolidated subsidiary of J ESCOM, resolved to transfer the shares of its subsidiary, Mafin Corporation, to InComm Japan. Mafin is expected to be excluded from the scope of consolidation from the fiscal year ending in March 2025.
In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
J ESCOM completed the acquisition of Mafin in June 2022, and since then, J ESCOM has been actively developing the overall gift business in the region of Japan by leveraging company expertise from Korea. As a result, both distribution volume and sales have been processing steadily.
As it is expected to require a certain period and financial burden in order to make this business profitable, J ESCOM has also decided to transfer all shares held by its group to InComm Japan. J ESCOM also intends to utilise the funds obtained from this share transfer to explore and execute promising investment opportunities as part of its investment business, which aims to expand its corporate value. The initiative is expected to focus on optimising the overall customer experience while accelerating the development of the overall financial landscape as well.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now