Ten Lifestyle wins new multi-year contract in Japan

The AIM-traded firm said the new multi-year contract would see its digitally-enabled concierge services being made available for the first time to the new corporate client's high-net-worth wealth management customers during the current financial year.

It said the contract was expected initially to be classed as small, with the potential to grow into a medium contract during the next financial year.

The new contract was incorporated within the group's existing growth plan.

“I am delighted that one of Japan's largest wealth managers is the latest major financial services business in the country to be offering Ten's digitally-enabled concierge service to their most valued customers,” said chief executive officer Alex Cheatle.

“Since establishing an office over 10 years ago, Ten has grown to scale in Japan - the home to the third largest population of millionaires, and one of the group's key markets in the Asia-Pacific region.

“This new contract will further strengthen Ten's business in Japan, where we expect activity to increase as the country emerges from the pandemic.”

At 1434 GMT, shares in Ten Lifestyle Group were flat at 116p.