Creation Capital Co., Ltd. acquired unknown majority stake in Payroll Inc. from JAFCO Co., Ltd. (TSE:8595) on June 16, 2017. Creation Capital Co., Ltd. has acquired over half of the outstanding shares of Payroll, Inc. Frontier Management Inc. acted as financial advisor to JAFCO Co., Ltd.

Creation Capital Co., Ltd. completed the acquisition of unknown majority stake in Payroll Inc. from JAFCO Co., Ltd. (TSE:8595) on June 16, 2017.