Japanese staffing firm Pasona Group announce that its consolidated subsidiary Bewith, Inc. was listed on the First Section of the Tokyo Stock Exchange.

Bewith is involved in the provision of contact center and BPO services using digital technologies as well as the development and sales of various AI and Digital Transformation solutions. The group was established in 2000.

As a result of the partial sale of shares owned by the company (4.4 million shares of common stock) at the time of listing Bewith, Inc., the company expects to record a gain of JPY 4.87 billion (USD 42.2 million) on sales of shares of the subsidiary as an extraordinary income in the non-consolidated financial year ending 31 May 2022.

In the consolidated financial statements for the fiscal year ending 31 May 2022, since Pasona will continue to own a majority of the shares of Bewith, Inc., the transaction will be treated as a capital transaction, and there will be no impact on consolidated profit and loss, except for a decrease in profit attributable to owners of parent due to the decrease in the ownership of the company’s shares.

The impact of this matter on the consolidated profit and loss is minor, the company added.

Pasona Group reported revenue for the six months ended 30 November 2021 of JPY 182.48 billion (USD 1.60 billion), up 10.7% compared with last year.