Coincheck, Inc., a subsidiary of Monex Group, Inc., announced today that it will transfer its virtual shareholder meeting support service “Sharely” to Excite Holdings Co., Ltd. through a corporate separation (incorporation-type company split).
Coincheck will transfer its Sharely business to a new company and then transfer the shares of the newly established company to Excite Holdings.
Sharely business has been supporting virtual shareholder meetings for listed companies since its launch in 2020, just in time to anticipate the introduction of laws regulating such meetings.
Coincheck commented:
“While the Sharely business has further growth potential, to align with our mission “Making Exchange of New Value Easier” and with our management policy to focus more on improving the performance of our crypto asset business, including the cryptocurrency trading service, we have decided to transfer the Sharely business”.
Excite Holdings, the transferee, has been pursuing a growth strategy called “ambidextrous management”. They aim to achieve “growth of their existing businesses” by expanding the number of users on their platform and broadband businesses. They also plan to “build new business pillars” by actively investing in SaaS and DX businesses and taking advantage of their earnings base. Additionally, they aim to achieve sustainable growth by strengthening their business portfolio through mergers and acquisitions.
To build new business pillars, Excite Holdings is focusing on the SaaS/DX business and has decided to acquire Sharely business to expand their product range. As Excite Holdings’ current management team has created and grown numerous Internet-related businesses, they believe their management skills will accelerate the further growth of the Sharely business. Consequently, Coincheck has decided to transfer the business to Excite Holdings.
After transferring Sharely business to the newly established company, Coincheck will transfer all shares of the newly established company to Excite Holdings. The newly established company will take over the “Sharely” brand and provide Sharely business users with the services of the same quality and standard as up to now.
The effective date of the corporate split and the share transfer to Excite Holdings is scheduled for March 8, 2024. The impact of the business transfer on Coincheck’s financial results for the current fiscal year (ending March 31, 2024) is expected to be limited.
