ETIC To Provide Support To ARRK Corp

The Enterprise Turnaround Initiative Corporation of Japan(ETIC), a government-backed turnaround body, has decided to provide support to ARRK Corporation, a listed manufacturer of prototype products, and its subsidiaries. The ETIC shall provide ARRK funding in the amount of 9 billion yen and make arrangements with Japanese financial institutions. ARRK, once aggressive in M&A, couldn't put into place group-wide management systems capable of keeping pace with rapid M&A-driven expansion. Through the ETIC business revitalization plan, ARRK Group will follow a clear business strategy geared toward reorganizing it into a group of companies that generate synergies.