Nisso Corporation (6569: TYO), a Japanese human resources firm providing staffing services, announced that it has agreed to acquire all shares in Vector Shinwa Co., Ltd., a provider of comprehensive human resources service business.

Both companies involved in the transaction are based in Japan. The effective date of the transaction is 31 August 2021.

Financial details were not disclosed.

Vector Shinwa focuses on human resources development and engages in a wide range of operations such as designing, developing and manufacturing jigs and various production equipment, dispatching human resources, and recruitment. The main pillar of Vector Shinwa's business is contracting operations in the manufacturing industry, such as for semiconductors and precision equipment.

With Vector Shinwa joining the Nisso Group, the company believes that it will be able to grow together as a group by strengthening its business foundation and expanding its business in existing areas such as manufacturing dispatching and contracting, which are the core businesses of Nisso Group.

“Vector Shinwa will be able to utilise the resources of the group, such as its client base, recruitment base, and education base, and by having the company combine its resources with the technology and human resources development expertise that Vector Shinwa has cultivated so far, the company will be able to strengthen its service supply system and expand its business, enabling it to respond to the needs of not only existing clients of both companies, but also to a wider range of clients,” the group stated.

Nisso operates in two segments: human resources and other business. The integrated talent service business operates a manufacturing talent service, such as manufacturing dispatching and manufacturing contracting, as well as an administrative talent service including general office dispatching and Business Process Outsourcing (BPO). The Other business segment operates nursing care and welfare projects, such as facility nursing care and home care.

The company reported revenue last week of JPY 18.04 billion (USD 162.9 million) for the first quarter ended 30 June 2021, an improvement of 9.0% compared to the same period last year.