Re: Establishment of a Subsidiary in India - Wacom
Re: Establishment of a Subsidiary in India - Wacom Re: Establishment of a Subsidiary in India - Wacom
June 24, 2010 Wacom Co., Ltd. Representative: Masahiko Yamada, CEO (Company Code: 6727 TSE1) Contact: Wataru Hasegawa, CFO (TEL: 03-5309-1500) Re: Establishment of a Subsidiary in India The Wacom Board of Directors have decided on June the 24th, 2010 to establish a Wacom group wholly-owned subsidiary in India to expand its tablet business. Please refer to the details below. 1. Summary of the subsidiary (1) Corporate Name: Wacom India Pvt Ltd. (2) Address of the head office: TBD (Delhi Region) (3) Name of the representative: Toshinori Nagasawa, CEO (4) Capital stock: 8 million Indian rupee (Approximate 17 million JPY) (5) Controlling share: Wacom Co., Ltd. 99%, Wacom Singapore Pte Ltd. 1% (6) Purpose of the company: Expansion of tablet business in the Indian market (7) Main business: Sales and marketing of tablet products and its related software (8) Personal relationship with Wacom: CEO Toshinori Nagasawa (Wacom employee transferred to Wacom Singapore) Director Shigeki Komiyama (Wacom director and executive officer Japan-Asia Pacific Region Director) Director Noboru Fujisaki (Wacom Asia Pacific Sales Div. General Manager) Director Tsutomu Oshita (Wacom Finance Div. Corporate Planning Dept. General Manager) (8) The number of employee: 7 persons (estimated as of the end of March 2011) 2.Main reasons for the establishment of a subsidiary Wacom has developed its tablet business in India using its local agents from Wacom Singapore. In consideration of the recent rapid growth in the Indian market, Wacom regards it necessary to establish a subsidiary for its early operating base foundation. It is important to increase market share and promote penetration of Wacom brand to ensure superiority in the Indian market. The Company will further strengthen business activities through the subsidiary.
June 24, 2010<br />
<strong>Wacom</strong> Co., Ltd.<br />
<strong>Re</strong>presentative: Masahiko Yamada, CEO<br />
(Company Code: 6727 TSE1)<br />
Contact: Wataru Hasegawa, CFO<br />
(TEL: 03-5309-1500)<br />
<strong>Re</strong>: <strong>Establishment</strong> <strong>of</strong> a <strong>Subsidiary</strong> <strong>in</strong> <strong>India</strong><br />
The <strong>Wacom</strong> Board <strong>of</strong> Directors have decided on June the 24th, 2010 to establish a <strong>Wacom</strong><br />
group wholly-owned subsidiary <strong>in</strong> <strong>India</strong> to expand its tablet bus<strong>in</strong>ess.<br />
Please refer to the details below.<br />
1. Summary <strong>of</strong> the subsidiary<br />
(1) Corporate Name: <strong>Wacom</strong> <strong>India</strong> Pvt Ltd.<br />
(2) Address <strong>of</strong> the head <strong>of</strong>fice: TBD (Delhi <strong>Re</strong>gion)<br />
(3) Name <strong>of</strong> the representative: Tosh<strong>in</strong>ori Nagasawa, CEO<br />
(4) Capital stock: 8 million <strong>India</strong>n rupee (Approximate 17 million JPY)<br />
(5) Controll<strong>in</strong>g share: <strong>Wacom</strong> Co., Ltd. 99%, <strong>Wacom</strong> S<strong>in</strong>gapore Pte Ltd. 1%<br />
(6) Purpose <strong>of</strong> the company: Expansion <strong>of</strong> tablet bus<strong>in</strong>ess <strong>in</strong> the <strong>India</strong>n market<br />
(7) Ma<strong>in</strong> bus<strong>in</strong>ess: Sales and market<strong>in</strong>g <strong>of</strong> tablet products and its related<br />
s<strong>of</strong>tware<br />
(8) Personal relationship with <strong>Wacom</strong>:<br />
CEO Tosh<strong>in</strong>ori Nagasawa (<strong>Wacom</strong> employee transferred to <strong>Wacom</strong> S<strong>in</strong>gapore)<br />
Director Shigeki Komiyama (<strong>Wacom</strong> director and executive <strong>of</strong>ficer<br />
Japan-Asia Pacific <strong>Re</strong>gion Director)<br />
Director Noboru Fujisaki (<strong>Wacom</strong> Asia Pacific Sales Div. General Manager)<br />
Director Tsutomu Oshita (<strong>Wacom</strong> F<strong>in</strong>ance Div. Corporate Plann<strong>in</strong>g Dept.<br />
General Manager)<br />
(8) The number <strong>of</strong> employee: 7 persons (estimated as <strong>of</strong> the end <strong>of</strong> March 2011)<br />
2.Ma<strong>in</strong> reasons for the establishment <strong>of</strong> a subsidiary<br />
<strong>Wacom</strong> has developed its tablet bus<strong>in</strong>ess <strong>in</strong> <strong>India</strong> us<strong>in</strong>g its local agents from <strong>Wacom</strong><br />
S<strong>in</strong>gapore. In consideration <strong>of</strong> the recent rapid growth <strong>in</strong> the <strong>India</strong>n market, <strong>Wacom</strong> regards it<br />
necessary to establish a subsidiary for its early operat<strong>in</strong>g base foundation. It is important to<br />
<strong>in</strong>crease market share and promote penetration <strong>of</strong> <strong>Wacom</strong> brand to ensure superiority <strong>in</strong> the<br />
<strong>India</strong>n market. The Company will further strengthen bus<strong>in</strong>ess activities through the<br />
subsidiary.
3.Schedule <strong>of</strong> the establishment<br />
(1) Date <strong>of</strong> registration: September 2010 (estimated schedule)<br />
(2) Address <strong>of</strong> the head <strong>of</strong>fice: October 2010 (estimated schedule)<br />
4.Future development and the effect on the f<strong>in</strong>ancial forecast<br />
The project is <strong>in</strong>tended to establish a subsidiary to strengthen its direct sales <strong>in</strong> <strong>India</strong>. And<br />
the Company expects this project will contribute to the significant improvement <strong>of</strong> our<br />
market position <strong>in</strong> the region.<br />
There will be no revision <strong>of</strong> the consolidated f<strong>in</strong>ancial forecast end<strong>in</strong>g March 31, 2011 by<br />
this subject regard<strong>in</strong>g the establishment <strong>of</strong> a subsidiary.<br />
Concluded<br />
2
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