M3 acquires EWEL, expands healthcare reach, partners with Tokyu

M3, Inc. (TSE:2413) has announced the acquisition of a majority stake (51%) in EWEL Co., Ltd. from Tokyu Land Corporation for approximately ¥10.2 billion, making EWEL a consolidated subsidiary. EWEL, a welfare service company, serves approximately 6.8 million employees. Concurrently, M3 and Tokyu Land will enter into a business alliance focused on healthcare and medical services at facilities developed and operated by Tokyu Land.