Acquisition of shares in human resources and staffing companies and launch of collaborative ventures
The Chodai Group wishes to announce that, via its wholly-owned locally-based subsidiary Chodai Philippines Corporation (hereafter referred to as Chodai Philippines), it has reached an agreement to acquire shares in Philnos Corporation (hereafter referred to as Philnos) and Nosphil Consultancy and Manpower Services Inc. (hereafter referred to as Nosphil), two recruitment and staffing companies based in the Philippines. The acquisition of these shares is intended to allow Chodai to venture into the personnel recruitment and dispatch business, to provide opportunities for Filipino workers both in the Philippines and in other countries including Japan.
The opportunity to enter this business sector has been provided by Yoshiyuki Tsunoda, founder and Chairman of both Philnos and Nosphil, who has offered Chodai the chance to purchase these shares.
Chodai Philippines will purchase all shares owned by Mr. Tsunoda in Philnos and Nosphil, which constitute a total of 25 percent of all issued shares in both companies (purchase price not disclosed).
A memorandum of understanding outlining the fundamental details of the transaction was signed between the two parties on June 29th, 2021. Once travel to the Philippines becomes possible again, Chodai and Mr. Tsunoda will sign the contract of transfer on-site, and file all necessary paperwork for the transfer of shares.
Chodai's entry into this business sector will not only help provide the necessary manpower for its overseas projects, but will also contribute to the current labor shortage problems facing Japan. It is also our firm belief that the acquisition and provision to the Japanese labor market of skilled foreign workers and highly-qualified technical experts from overseas will contribute to the social issues facing Japan through the creation of a more open, cooperative society.
Chodai plans to use its stake in these two companies to not only provide staffing solutions both within the Philippines and to Japan and other overseas nations, but also to incorporate high added-value personnel development through the implementation of high-quality specialist education and qualification acquisition programs.