TOKYO, Jan. 5, 2016 /PRNewswire/ -- 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.
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1. Details of Subsidiaries
Name Shinra Technologies, Inc. Shinra Technologies Japan Co., Ltd.
(a wholly-owned subsidiary (STI's wholly-owned subsidiary)
of the Company, "STI")
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Address 225 W. 34th Street, Suite 2008 6-27-30, Shinjuku, Shinjuku-ku
New York, NY 10122, U.S.A. Tokyo 160-8430, Japan
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Representative Yoichi Wada Yoichi Wada
Director, President and Secretary President and Representative Director
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Incorporated March 18, 2014 August 20, 2014
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Scope of Business Cloud platform business Cloud platform business
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Capital US$10.00 JPY50 million
(Paid-in capital: US$15 million) (Paid-in capital: JPY80 million)
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Reason of the STI, as a cloud platform operator, has
Dissolution 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
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2. 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.)
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
Tel (03) 5292-8000
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SOURCE SQUARE ENIX HOLDINGS CO., LTD.
