Tohoku Electric Power's group companies centrally including labor management and accounting
TOKYO, Feb. 10, 2025 /PRNewswire-PRWeb/ -- Tohoku Electric Power Co., Inc. (Head Office: Sendai city, Miyagi prefecture, Japan; President and Representative Director: Kojiro Higuchi; Tohoku Electric Power) and transcosmos inc. hereby announce that the two companies have agreed to merge their joint company, Tohoku Electric Power Transcosmos Management Partner Company, Incorporated. (TETRAmp), with TDG Business Support Corporation, a wholly-owned subsidiary of Tohoku Electric Power, effective as of April 1, 2025 (the Merger). Accordingly, the two constituent companies, TETRAmp and TDG, signed an absorption-type merger agreement on January 30, 2025.
TETRAmp and TDG have been handling back-office business operations outsourced by Tohoku Electric Power's group companies centrally including labor management and accounting to help Tohoku Electric Power Group (the Group) enhance its business efficiency.
Through this Merger, the Group will further reduce costs and enhance service quality by streamlining the structure for promoting its shared service business and centralizing common back-office operations across the Group. Ultimately, the Group will enhance its efforts toward "Recovering financial base at an early stage" and "Strengthening the management base," initiatives set under the Group's medium-to long-term vision—Working alongside next+PLUS.
Building on expertise and know-how that TETRAmp and TDG own, Tohoku Electric Power and transcosmos will together aim to grow the merged TETRAmp even further by expanding its businesses both inside and outside of the Group.
[Outline of the Merger]
- Execution Date of the Merger Agreement: January 30, 2025
- Effective Date of the Merger Agreement: April 1, 2025
- Method of the Merger: Absorption-type merger, with the surviving company being TETRAmp
(Note: the two parties will merge on equal terms.)
Note) The Merger will be submitted for the approval of shareholders of TETRAmp and TDG at their respective extraordinary meeting of shareholders to be held in March, 2025. - Overview of the Company
(1) Trade name: Tohoku Electric Power Transcosmos Management Partner Company, Incorporated
(TETRAmp)
(2) Headquarters: 1-5-3, TItsutsubashi, Aoba-ku, Sendai City, Miyagi Prefecture, Japan
(3) Capital: \150 million
(4) Ownership percentage: Tohoku Electric Power 51% transcosmos 49%
[Reference 1] Overview of the Constituent Companies (before merger)
Tohoku Electric Power Transcosmos Management Partner Company, Incorporated (TETRAmp)
Date of foundation: April 3, 2023
Headquarters: 1-5-3, Itsutsubashi, Aoba-ku, Sendai City, Miyagi Prefecture, Japan
Capital: 150 million yen
Shareholders: Tohoku Electric Power Co., Inc.. 51%
transcosmos inc. 49%
Representative: Representative Director, President: Yasunori Majima
Business description: Back-office outsourcing services for Tohoku Electric Power including general affairs, human resources management, accounting, procurement, etc.
TDG Business Support Corporation (TDG)
Date of foundation: February 5, 2002
Headquarters: 1-7-7, Honcho, Aoba-ku, Sendai City, Miyagi Prefecture, Japan
Capital: 100 million yen
Shareholders: Tohoku Electric Power Co., Inc.. 100%
Representative: Representative Director, President: Kunio Ariga
Business description: Back-office outsourcing services for Tohoku Electric Power Group companies including accounting and labor management
[Reference 2] Merger framework (for illustration purposes only)
[Reference 3] Overview of Tohoku Electric Power Group Medium-to Long-term Vision—Working alongside next+PLUS
Refer to Future Management Initiatives: Working alongside next+PLUS Visit Tohoku Electric Power corporate website posted on Tohoku Electric Power corporate website
URL: https://www.tohoku-epco.co.jp/ir/management/pdf/vision_plus_en.pdf
Media Contact
transcosmos inc., transcosmos inc., +81-3-6709-2251, [email protected], https://www.trans-cosmos.co.jp/english/
SOURCE transcosmos inc.
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