Announcement regarding Establishment of Impress Technology Beijing Co., Ltd.
Tokyo, October 16, 2006 - Impress Holdings, Inc. (TSE: 9479), announced today that it has received approval from local authorities to establish a locally incorporated company in the People's Republic of China ("China"), as follows.
1. Background
The Impress Group is aggressively developing digital media and print media businesses in the Chinese market, including the launch of "Impress Watch Chinese Edition" (Chinese name: Impress WatchΆβ; http://impress.yesky.com) in September of this year through its alliance with the Chinese specialist IT information media group ChinaByte Group. The Impress Group has also been making preparations and applications to establish a locally incorporated company in order to manage these businesses more efficiently.
With the establishment of a locally incorporated company, the Impress Group aims to expand its business beyond its partnerships with local companies by engaging in direct investment and sales.
| Company name: | CvXeNmW[k (Japanese) pνzikjΘZLΐφi (Chinese) Impress Technology Beijing Co., Ltd (English) |
| Head office: | Beijing, People's Republic of China |
| Date of establishment: | September 28, 2006 |
| Capital: | 30 million yen |
| Fiscal year: | January 1 to December 31 of each year |
| Ownership: | Impress Holdings, Inc. (100%) |
| Directors: | President / CEO: Shinya Kurata Director: Keiichiro Tsukamoto (President / CEO, Impress Holdings, Inc.) Director: Akio Sekimoto (Director / CFO, Impress Holdings, Inc.) |
| No. of employees: | 7 |
| Businesses: | Software and systems development Design and DTP production, Translation Business and investment consulting, etc. |
3. Future Outlook
At this time, the impact of the establishment of this entity on the Company's business results is seen as negligible.
