We are pleased to announce you that the holding company (“the holding company”), which is funded by the Funds, to which we provide investment-related services (*1), has agreed with the owners and NEC Corporation (“NEC”) to acquire shares of SINCERE Corporation (head office: Shinagawa-Ku, Tokyo; President & CEO: Yosuke Masuda; URL: https://www.sincerehq.com; ” SINCERE”).

SINCERE, founded in 1969 with NEC, as a company engaged in recycling and building maintenance business in which the NEC Group as its primary customer. Subsequently, SINCERE established waste management business facilities in the Shinagawa and Yokohama districts to meet the demand for legitimate waste disposal from the Tokyo metropolitan area, based on the philosophy that “Symbiosis with nature is necessary to realize a sustainable society.” For more than half a century, the facilities have provided practical solutions to environmental problems, such as waste power generation (thermal recycling) and recycling waste as roadbed material (material recycling). In recent years, there has been a growing social need to address environmental issues; thus, SINCERE is playing an increasingly important role as a difficult-to-replace social infrastructure.
Based on the businesses mentioned above, SINCERE aims to develop its waste management business, which provides integrated support for the overall management of waste disposal.

The holding company will acquire all of the shares from the owners and some of the shares from NEC. The holding company will support SINCERE in maintaining and improving its organizational structure, which enables it to provide stable services as social infrastructure, and in further growing as an “environmental solution company.”


*1: J-STAR Co., Ltd. provides investment-related services including investigation and introduction of investment opportunities and support for portfolio companies, respectively, to J-STAR No.4 A, LP, and other investment entities either directly or through our subsidiary.

Conclusion of a contract for the acquisition of shares of SINCERE Corporation