Notice of Establishment of Consolidated Subsidiary in the United States
Livesense Inc. (hereafter “Livesense”) hereby announces that at the meeting of the Board of Directors held today, it resolved to establish a new consolidated subsidiary in the United States. Details are as follows.
1. Purpose of Establishment of Subsidiary
Livesense is strengthening its existing businesses and considering new business domains targeting its goals set forth in its mid term business plan to the end of fiscal year-end December 2018.
Building its business overseas is an important part of Livesense’s growth plan. Livesense has decided to establish a new subsidiary in the United States, which is a leading country in Internet services, to conduct market research and building a local business network to further grow the business in and outside of Japan.
2. Summary of Subsidiary
Trade Name：Livesense America Inc. (planned)
Address：California, United States (planned)
Major Businesses：Internet Services
Stated Capita：0.5 million U.S. dollars (approx. 51 million yen)
Date of Establishment：July to August 2014 (planned)
Fiscal Year End：December 31 (planned)
Capital Structure：Livesense Inc. (100%)
3. Impact on Business Performance
The establishment of the above subsidiary will have an insignificant impact on the consolidated results for the current period. Livesense aims to increase its consolidated results in the medium to long term.