InComm Payments acquires digital gift card provider Mafin from J ESCOM

J ESCOM HOLDINGS, a TSE-listed enterprise, announced that Mafin Holdings, a consolidated subsidiary of J ESCOM, resolved to transfer the shares of its subsidiary, Mafin Corporation, to InComm Japan, effective November 1, 2024. As a result of this share transfer, Mafin is expected to be excluded from the scope of consolidation from the fiscal year ending March 2025.

J ESCOM expects to record a gain on sale of subsidiary shares of approximately 511 million yen in Mafin Holdings Corporation’s individual financial statements and approximately 766 million yen in consolidated financial statements as extraordinary income in the third quarter of the fiscal year ending March 2025.

J ESCOM completed the acquisition of Mafin in June 2022. Since then, J ESCOM has been actively developing the digital gift business in Japan by utilizing business expertise from Korea, which is an advanced country in digital gifts, and as a result, both distribution volume and sales have been progressing steadily.

However, as it is expected to require a certain period and financial burden to make this business profitable, J ESCOM has decided to transfer all shares held by it group to InComm Japan.

J ESCOM intends to use the funds obtained from this share transfer to explore and execute promising investment opportunities as part of their investment business, aiming to expand their corporate value.

Mafin financial results for the past three years

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