Square Enix : NOTICE OF DISSOLUTION OF SUBSIDIARIES AND BOOKING OF AN EXTRAORDINARY LOSS
January 05, 2016 at 08:25 pm
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Company: SQUARE ENIX HOLDINGS CO., LTD.
(Code: 9684, Tokyo Stock Exchange)
Representative: Yosuke Matsuda, President and Representative Director
Contact: Michihiro Sasaki, General Manager, Corporate Planning
January 6, 2016
Tel (03) 5292-8000
NOTICE OF DISSOLUTION OF SUBSIDIARIES AND BOOKING OF AN EXTRAORDINARY LOSS
A couple of wholly-owned subsidiaries of the Company have decided to dissolve and liquidate, and as a result, the Company will book an extraordinary loss as follows.
Details of Subsidiaries
Name
Shinra Technologies, Inc. (a wholly-owned subsidiary of the Company, "STI")
Shinra Technologies Japan Co., Ltd.
(STI's wholly-owned subsidiary)
Address
225 W. 34th Street, Suite 2008 New York, NY10122, U.S.A.
6-27-30, Shinjuku, Shinjuku-ku
Tokyo 160-8430, Japan
Representative
Yoichi Wada
Director, President and Secretary
Yoichi Wada
President and Representative Director
Incorporated
March 18, 2014
August 20, 2014
Scope of Business
Cloud platform business
Cloud platform business
Capital
US$10.00
(Paid-in capital: US$15 million)
JPY50 million
(Paid-in capital: JPY80 million)
Reason of the Dissolution
STI, as a cloud platform operator, has been trying to raise funds necessary for further business operations from third party investors. However, STI has found no prospective investors at this point, and therefore has to discontinue its business.
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Estimated Date of Completion of Liquidation
March 31, 2019
June 30, 2016
Influence on the Company's Consolidated Financial Results
The Company will book an extraordinary loss of approximately 2 billion yen in the consolidated financial results for fiscal year ending March 31, 2016.
(Out of the above-mentioned amount, the Company has already posted a Loss on Liquidation of Subsidiaries and Affiliates of approximately 1.1 billion yen in the consolidated financial results for the six-month period ended September 30, 2015.)
-EOD-
Square Enix Holdings Co. Ltd. issued this content on 2016-01-06 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-06 01:24:14 UTC
Original Document: http://www.hd.square-enix.com/eng/news/pdf/20160106_01en.pdf
SQUARE ENIX HOLDINGS CO.,LTD. is a Japan-based company mainly engaged in the entertainment business. The Company operates in four business segments. The Digital Entertainment segment is engaged in the planning, development, sale, licensing and operation of digital entertainment contents focusing on computer games. The Amusement segment is engaged in the operation of amusement facilities, as well as the planning, development, manufacture, sale and rental of commercial game equipment and related commercial products for amusement facilities. The Publishing segment is engaged in the publishing and licensing of comics books, game related books and periodical magazines. The Rights and Property segment is engaged in the planning, production, sale and licensing of derivative works.