Relo : Notice on Completion of Share Transfers in Consolidated Subsidiaries and Acquisition of Shares in Equity Method Subsidiary
August 31, 2022 at 08:54 pm EDT
Share
August 1, 2022
For Immediate Release
Company name:
Relo Group, Inc.
Representative:
Kenichi Nakamura
Representative Director, CEO
(Code: 8876, Prime Section of TSE)
Contact:
Yasushi Kadota
Director, CFO
(Tel: +81-3-5312-8704)
Notice on Completion of Share Transfers in Consolidated Subsidiaries and Acquisition of Shares in
Equity Method Subsidiary
Relo Group, Inc. announces that it has completed the share transfers of BGRS Group (collective term for BGRS LLC, BRPS LLC, BRER SERVICES INC. and their group companies) to SIRVA Group and acquired preferred shares of SIRVA Holdings, Inc. as of July 29, 2022, in accordance with the planned share transfers announced in the "Notice of Change in Consolidated Subsidiaries (Share Transfer) and Commencement of Joint Management of the Global Relocation Business" dated May 6, 2022.
Although BGRS Group will be excluded from our consolidated subsidiaries as a result of this transaction, the Company will start managing the global relocation business jointly with Global Relocation and Moving Services, LP in order to realize our vision of becoming a top global relocation company.
Moreover, regarding the impact of the share transfers, realized gain is expected to be posted as gain or loss of discontinued operations, but the Company is currently reviewing the details o f the matter. The Company will promptly disclose any matter arising in the future that requires disclosure.
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Relo Group Inc. published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 00:53:01 UTC.
Relo Group Inc is engaged the provision of outsourcing services in the field of corporate welfare, as well as the rental management business and hotel management business. The Company operates in five business segments. The Domestic Relocation segment is involved in the provision of leasing company housing management outsourcing services, and the rental real estate management & brokerage business. The Welfare segment is involved in the provision of welfare agency services, customer benefit agency services, and home rush services. The Transfer Support segment provides the overseas assignment support, inbound support, expatriate staff regulations and treatment consulting services. The Overseas segment provides assignment management services for global companies, as well as overseas local services. The Tourism segment is involved in the holiday home time sharing business and hotel management business. The Company also conducts financial-related businesses of its core businesses.
RELO GROUP, INC. 
