GungHo Online Entertainment : (Report on the progress of disclosed items) Notice on the Establishment of Joint Venture with a Leading Taiwanese Game Publishing Company
January 06, 2016 at 01:40 am
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To whom it may concern
December 25, 2015
Company name
GungHo Online Entertainment, Inc.
Representative
Kazuki Morishita, Representative Director & President, CEO
(Securities code:3765 TSE First Section)
Contact person
Kazuya Sakai, Director & CFO, Executive General Manager of Finance Accounting Division
(TEL:03-6895-1650)
(Report on the progress of disclosed items) Notice on the Establishment of Joint Venture with a Leading Taiwanese Game Publishing Company
In relation to the "Notice on the Establishment of a Joint Venture with a leading Taiwanese Game Publishing Company" as disclosed dated October 22, 2015, we would like to provide the following notification that the establishment of the joint venture on this occasion is complete.
With regard to the previously provisional trading name and undetermined address, those relevant areas that are now determined have been underlined.
Purpose of establishing a joint venture company
Today's smartphone games market continues to grow, attracting a broad range of users not only in Japan but also in Europe, the U.S. and Asian countries. Against this backdrop, we have established a joint venture with Gamania International Holdings Ltd, which is a group company of the Taiwanese major game publishing company Gamania Digital Entertainment Co., Ltd, in order to publish our game titles that are popular in Japan, not only in Taiwan but also in Hong Kong and Macao.
Overview of the joint venture company
(1)
C o m p a n y N a m e
GungHo Gamania Co., Limited
(2)
P r i n c i p a l O f f i c e
Hung Hom, Hong Kong
(3)
R e p r e s e n t a t i v e s
Po-Yuan Liu
(4)
M a i n B u s i n e s s
Distribution and operation of game titles; other ancillary
business operations
(5)
P a i d - i n C a p i t a l
US$ 5 Million (Approximately JPY 599 million)
(6)
E s t a b l i s h m e n t
December 21, 2015
(7)
Major shareholders and shareholding
ratio
GungHo Online Entertainment, Inc. 51.0% Gamania International Holdings Ltd. 49.0%
Outlook
The Company expects that this matter will have only a negligible effect on the consolidated business forecast for the fiscal year ending December 31, 2015 and will notify if some events needing to be disclosed occur. This joint venture company corresponds to a consolidated subsidiary.
Gungho Online Entertainment Inc. issued this content on 2015-12-25 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-06 06:39:30 UTC
Original Document: http://www.gungho.co.jp/english/ir/uploads/irs20151225e.pdf
GungHo Online Entertainment Inc is a Japan-based company mainly engaged in the development of online games via the Internet. The Company is mainly engaged in the planning, development, operation and distribution of smartphone games. The main products in smartphone games are Puzzle & Dragons, Ragnarok M: Eternal Love, Puzzle Radar, Summons Board, Kerihime Sweets, Yokai Watch World, TEPPEN. The Company is also engaged in the planning, development, operation, distribution and sale of consumer game software for home-use game consoles and portable game consoles, the production of game software, as well as the sale of products to customers through wholesale trading companies, retail stores and content distributors.
GungHo Online Entertainment : (Report on the progress of disclosed items) Notice on the Establishment of Joint Venture with a Leading Taiwanese Game Publishing Company