Empresaria Group PLC on Friday announced the sale of its 51% interest in its Japanese subsidiary Fines Tokyo KK.

As part of the transaction, buyer Fines Holdings KK repaid JP¥50 million, about £253,000, of an outstanding JP¥90 million intercompany balance due to Empresaria.

The Crawley, England-based specialist staffing company, said that the sale marks the fourth exit from smaller, non-core markets and sectors.

Fines Tokyo generated £1.9 million in revenue and £600,000 in net fee income for Empresaria in 2023.

Yoshikazu Tanabe and Tomonari Harada are directors in Fines Tokyo and have interests in buyer Fines Holdings KK.

Empresaria shares were down 5.1% to 26.58 pence each in London on Friday afternoon.

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