Adventure will make a total of three companies, including Five Star Corporation and two group companies, wholly owned subsidiaries.
The companies to be acquired as subsidiaries are three: Five Star Corporation, Five Star Corporation Tokyo, and Island Cleaners. They boast a high market share as hotel operation outsourcing providers in Okinawa Prefecture, Japan. Adventure expects synergies by leveraging complementary contracts and operational know-how.
Adventure will acquire all shares from Five Star Corporation’s President and CEO, Yoshihiro Suzuki, for 1,040,000,000 yen. The total acquisition cost is 1,120,000,000 yen, including 80,000,000 yen in advisory fees.
For the fiscal year ending March 2025, Five Star Corporation recorded revenue of 784,000,000 yen and net profit of 120,000,000 yen. Likewise, Five Star Corporation Tokyo posted a net profit of 8,000,000 yen, and Island Cleaners posted 3,000,000 yen.
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