Yamoto Holdings announced that it has signed a business agreement with staffing firm World Holdings to transfer its subsidiary Yamoto Staff Supply.

Yamato Holdings is a conglomerate primarily focused on freight delivery, courier services and logistical services.  

Yamoto Holdings will transfer 51% of shares issued of Yamato Staff Supply to World Staffing Co., Ltd. a consolidated subsidiary of World Holdings.

Financial details were not disclosed.

Yamoto Staff Supply is involved in human resource services, as well as the light cargo business, education business, and outsourcing business.

Yamoto Staff Supply will become a consolidated subsidiary of World Holdings. The impact of this share transfer on World Holdings’ business performance is currently under review, and will be announced promptly if necessary.

The impact of the share transfer on Yamoto Holdings’ consolidated financial results for the fiscal year ending 31 March 2024 will be negligible.

In its business agreement World Holdings and Yamoto said they will collaborate to make further effective use of the management resources of both companies, in order to maintain revenue opportunities and secure future competitiveness, as well as to create more ‘ways for people to play a role in society’ and contribute to the sustainable development of Japanese society and to ‘enriching our society’.