Broadband Security,Inc. announced that it has received ¥280 million in funding from Terilogy Co., Ltd. and SBI AXES Co., Ltd.
June 18, 2014 at 05:00 am
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Broadband Security,Inc. announced a private placement of 40,000,000 common shares at ¥7 per share for gross proceeds of ¥280,000,000 on June 16, 2014. The round will include participation from new investors, Terilogy Co., Ltd. for 2,500,000 shares for ¥17,500,000 and SBI AXES Co., Ltd. for 37,500,000 shares for KRW 262,500,000. SBI AXES Co., Ltd. will acquire 10.85% stake in the company through this transaction. The shares will be issued by third party capital increase. The transaction has been approved at the special board of directors' meeting of investors. The settlement date for investment of Terilogy Co., Ltd. is June 16, 2014 and SBI AXES Co., Ltd. is June 18, 2014. The company reported total assets of ¥8,627,000,000 total stockholders' equity of ¥-2,575,000,000, sales revenue of ¥17,326,000,000, net loss of ¥1,112,000,000 for the year ending June 30, 2013.
On the same date, the company announced that it has received ¥17,500,000 in first tranche closing.
On June 18, 2014, Broadband Security,Inc. closed the transaction.
BroadBand Security, Inc. is a Japan-based company engaged in security service business. The Companyâs services include security audit consulting service, vulnerability diagnosis service and information leakage IT countermeasure service. Information Disclosure In the security equipment management service in IT countermeasure services, it sells security equipment to customers and purchase them from manufacturers. In addition, it receives license from overseas security software company in secure mail service and malware detection service. Vulnerability assessment service sometimes outsources a part of vulnerability diagnosis for smart phones.
BROADBAND SECURITY, INC. 
