TIS to absorb Nihon ICS as subsidiary
TOKYO, JAPAN — IT company TIS has agreed to acquire Nihon ICS, a financial accounting package provider engaged in computer software and hardware development.
As part of its efforts to expand its offerings, TIS would turn Nihon into a consolidated subsidiary, allowing the former to secure the company’s business model and client base.
TIS will acquire 76,000 shares under the transaction, expected to be completed on the 6th of April 2023. The acquisition price was not disclosed.
Nihon reported net assets of ¥9.7 million (US$73,325) and total assets of ¥14.2 (US$107,344) million for the period ending November 30, 2022.
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