Money Forward Inc. plans to delist Outlook Consulting through a Tender Offer Bid to enhance competitiveness in management consulting.

Target Information

Money Forward Inc. (Ticker: 3994), a leading cloud accounting software provider in Japan, has announced a plan to delist its subsidiary, Outlook Consulting (Ticker: 5596), through a Tender Offer Bid (TOB). This strategic move aims to enhance its competitiveness in the management consulting sector.

In December 2024, Money Forward will utilize the TOB to consolidate ownership of Outlook Consulting, known for its management system 'Sactona', which is currently listed on the Tokyo Stock Exchange's Growth Market. Although Money Forward initially sought to maintain the subsidiary's public listing to boost motivation among executives and employees, the company determined that sustaining the listing would hinder synergies between the various back-office cloud services and the operational and customer frameworks of 'Sactona'. Consequently, they concluded that delisting would better support their goal of improving corporate value.

Industry Overview in Japan

The management consulting industry in Japan has been experiencing significant growth due to the increasing demand for digital transformation across various sectors. Companies are increasingly leveraging cloud technologies to s