Tsunagu Holdings (6551:JP), a Japan-based company offering recruitment related services, announced it will acquire all of the shares of Tokyo-based Advance News, a company that provides frontline coverage and information on employment, HR and labour policy.

The effective date of the transaction is 1 October 2024. The price of the acquisition is JPY 20 million (USD 141,374).

Advance News was founded in October 2010. Revenue for the company for the fiscal year ended September 2023 stood at JPY 37.98 million (USD 268,470), up 4.87% year-on-year, while its operating loss was JPY 8.11 million (USD 57,319).

Tsunagu said in a press release (translated from Japanese), “Labour-related legal amendments, such as work style reforms, increased premiums for overtime work, and upper limits on overtime hours, have accelerated significantly. In addition, there has been a surge in labour-related amendments, such as spot workers, side jobs, and the use of global human resources. Not only knowledge but also sensing and forecasting skills are essential for Tsunagu Group. We believed that improving our capabilities was necessary for growth and solving social issues.”

In July 2024, Tsunagu acquired Tokyo-based Aigate Career, which operates a sales and administrative staffing business as well as a medical and nursing care personnel recruitment segment.