Local Works Inc. announced that it has received ¥210 million in funding from Nippon Venture Capital Co., Ltd., Sumitomo Forestry Co., Ltd., SMBC Venture Capital Co., Ltd., Aucfan Co., Ltd.
April 09, 2018
Share
Local Works Inc. announced a private placement of common shares for gross proceeds of ¥210,000,000 on April 10, 2018. The transaction included participation from existing investor Nippon Venture Capital Co., Ltd., new investors Sumitomo Forestry Co., Ltd. (TSE:1911), SMBC Venture Capital Co., Ltd., and Aucfan Co., Ltd. (TSE:3674). Post the closing, the capital of the company has increased to ¥350,000,000.
Aucfan Co.,Ltd. is a Japan-based company mainly engaged in the media business, marketplace business and solution business. The Company operates through four segments. The Media segment is involved in the operation of aucfan.com which is a shopping comparison and search site and education and individual support service named Oakfan School. The Marketplace segment is involved in the handle of stock disposal and sale of channel expansion support for corporations, as well as the operation of NetPrice which is business-to-consumer (BtoC) marketplace. The Solution segment is involved in the provision of service for corporate companies to improve business efficiency and expand business performance. The Incubation segment is involved in the investment of related businesses, as well as the provision of consulting services for these businesses.
Local Works Inc. announced that it has received ¥210 million in funding from Nippon Venture Capital Co., Ltd., Sumitomo Forestry Co., Ltd., SMBC Venture Capital Co., Ltd., Aucfan Co., Ltd.
AUCFAN CO., LTD. 
