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Business

Japan's Alsok to buy Hitachi Security Service

Expansion plans also include joint venture with NTT security unit

TOKYO -- Sohgo Security Services, better known as Alsok, has agreed to purchase rival Hitachi Security Service, part of efforts to expand its customer base.

Alsok will acquire 90% of outstanding shares of the Hitachi group company on Feb. 1 for several billion yen. The Hitachi unit, which primarily offers security services for group companies, recorded sales of 8.14 billion yen ($71.3 million) in the year ended March 2016.

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