Shift acquires stake in Rise Consulting Group for expansion

Shift (TSE:3697) announced today its plans to acquire a 33% stake in Rise Consulting Group, Inc., a Tokyo-based consulting firm specializing in NewTech, new business, overseas expansion, business process reform and IT strategy. The acquisition, valued at JPY 7,618,715,000, will be executed through a share transfer agreement with Sunrise Capital and is expected to close in early May 2025, pending regulatory approval. As part of the transaction, Shift and Rise Consulting Group will establish a business alliance focused on enhancing client value and expanding service capabilities. The alliance will involve mutual client referrals and consultant training programs, aimed at strengthening the management foundations of both companies. Shift intends to propose a nominee for Rise Consulting Group's board of directors. Shift expects Rise Consulting Group to become an equity method affiliate, and considers there to be no impact on the company's financials.