A share transfer agreement has been signed for VJ Solutions Co., Ltd.'s acquisition of Forty Degrees Celsius, Inc., a system development company in Cebu, Philippines.

Forty Degrees Celsius, Inc. is affiliated with a tax advisory client of Yanagisawa International Tax & Accounting Office. Our group company, Yanagisawa Research Institute Co., Ltd., provided one-stop M&A intermediary services for the transaction.

Forty Degrees Celsius Inc. Official Website

Subsequent developments (addendum)

After the acquisition, the business expanded into online English lessons. A 2016 press release introduces VJ Solutions as the developer and operator of Native Camp, an online English conversation service.

Forty Degrees Celsius continues to operate as the company responsible for Native Camp's systems, based in Cebu. Native Camp grew to the point where it announced that cumulative users exceeded three million in February 2025. That reflects its subsequent growth.

This case illustrates how acquiring an overseas development company provided a technology base that supported the growth of an online English learning service.