Monstar Lab, Inc. (TSE:5255) agreed to acquire ExecutiveSearch.AI K.K. on September 20, 2023. The consideration for 86 shares to be acquired in October 2023 is ¥413 million. The agreement states that the acquisition is completed in stages: 14 shares will be acquired in 2024, 14 shares in 2025, 14 shares in 2026, and 15 shares in 2027.

The acquisition in 2027 completes the transaction, and all the issued shares of common stock will have been acquired. ExecutiveSearch.AI reported net assets of ¥69 million, total assets of ¥103 million, net sales of ¥190 million and operating profit of ¥11 million as at September 30, 2022. The advisory fees for this transaction is ¥12 million.

The transaction is expected to close in 2027.