UT Group (TYO:2146) is disposing of all shares of its consolidated subsidiary, Green Speed, to Le Van Hoang, the founder of GS, according to its Tuesday bourse filing.
Green Speed, which operates worker dispatch services in Vietnam through its subsidiary Hoan Nhan, was acquired by UT Group in 2020 to support foreign technical intern trainees returning to Vietnam.
However, changes in the business environment, including the impact of COVID-19 and revisions to Japan's Technical Intern Training Program, have shifted the focus to supporting foreign workers in Japan.
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