Houlihan Lokey Advises Constellation Software Japan

Houlihan Lokey is pleased to announce that Constellation Software Japan (CSIJ) has sold RESCHO to TIS.

Founded in 2016 and headquartered in Tokyo, Japan, CSIJ invests in and manages Japanese software development companies. CSIJ is a joint venture between Constellation Software (CSI) and Hikari Tsushin. Headquartered in Canada, CSI invests primarily in software companies. CSI’s market capitalization is about US$50 billion. HIKARI TSUSHIN, headquartered in Japan, provides office automation equipment, subscription agency communication, and corporate mobile communication services for corporate clients and operates mobile phone retailers and third-sector insurance agencies for individuals with approximately US$6.8 billion in market capitalization. HIKARI TSUSHIN also invests in a wide variety of companies across all fields.

Founded in 1993 and headquartered in Hiroshima, Japan, RESCHO is the leading provider of electronic medical record (EMR) systems for psychiatric care in Japan, offering comprehensive solutions for development, sales, and maintenance.

Founded in 1971 and headquartered in Tokyo, Japan, TIS provides information-technology-related services, including outsourcing services, software development, and solution services regarding investments in information technology. TIS’s market capitalization is approximately US$5 billion.

This transaction was a result of CSIJ’s decision to divest RESCHO. In addition, TIS aims to enter the EMR space for psychiatric care and to expand its healthcare platform through mutual utilization of human resources and technology with RESCHO.

Houlihan Lokey served as the sole financial advisor to CSIJ on its sale of RESCHO to TIS by providing value from identifying parties, maintaining a competitive environment of strong potential buyers, and winning favorable contract terms.