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 corporate separation (incorporation type company split).
Coincheck will transfer its Sharely operations to a new company and then transfer the shares of the newly formed company to Excite Holdings.
Sharely business has been supporting virtual shareholder meetings for listed companies since its inception in 2020, just as laws regulating such meetings are expected to be enacted.
Coincheck commented:
“While the Sharely business has further growth potential, to align with our mission of ‘Facilitating the exchange of new value’ and our management policy to focus more on improving the performance of our cryptocurrency business, including our cryptocurrency trading service, we have decided to transfer the Joint-stock company”.
Excite Holdings, the transferee, has followed 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 leveraging their profit base. In addition, 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 SaaS/DX business and decided to acquire Sharely business to expand its product range. As Excite Holdings’ current management team has built and grown numerous Internet-related businesses, they believe their management skills will accelerate the further growth of the Sharely business. Consequently, Coincheck decided to transfer the business to Excite Holdings.
Following the transfer of Sharely’s business to the newly formed company, Coincheck will transfer all shares of the newly formed company to Excite Holdings. The newly formed company will take over the ‘Sharely’ brand and provide Sharely business users with the same quality and standard services as before.
The effective date of the corporate spin-off and transfer of shares 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.