—Companies reach agreement on strengthening the Promise Group's current mobile site, creating a new promotional site to attract new customers, and starting up a new business based on providing new mobile cashing services
In a meeting of the Board of Directors held today, Index Corporation (President Yoshimi Ogawa, Tokyo) decided to make a third-party allocation. The shares issued in the capital increase will be acquired by Promise Co., Ltd. (President Hiroki Jinnai, Tokyo), and 13 other companies. The Board of Directors also agreed on a business alliance with Promise that aims to strengthen the Promise Group's current mobile site, to create a new promotional site to attract new customers, and to start up a new business based on providing new mobile cashing services.
Purpose of Capital Alliance
The two companies will combine their know-how to acquire new customers and develop a
new earnings base. These goals will be achieved by improving and expanding Promise's
mobile service and by developing a mobile-based cashing service. Index will contribute
its advanced mobile technology and know-how, promotional capabilities utilizing diverse
mobile content, and a range of mobile solutions. Promise will contribute credit scoring
and loan management know-how from its consumer finance business.
Outline of Third-Party Allocationto Promise
1) Total acquisition cost: 9,999,918,000 yen
• Number of shares to be acquired: 71,684
• Ownership: 3.4%
• Voting rights: 71,684
2) Settlement Date: December 28, 2005
Using the special features of mobile technology, the partners will offer a new cashing
service that is much more appealing to customers
- Create a cashing service portal site for Promise and its group companies.
- Launch an entertainment-oriented site to attract customers.
- Develop a cashing service for mobile shopping sites utilizing Promise's Daifuri* service.
- Jointly plan, develop, and operate a new mobile cashing service that fuses the mobile technology and know-how of Index and Promise's credit scoring capabilities (With a view to establishing a joint venture to offer mobile-based cashing services).
* Daifuri is a money transfer service offered to Promise's customers through a
business tie-up with The Japan Net Bank, Limited. Using this service,
customers may designate a bank account to which their free cashing
loans will be directly transferred upon approval.
Outline of Index Corporation
Company name: | Index Corporation (JASDAQ:4835) |
Location of head office: | Carrot Tower, 4-1-1 Taishido, Setagaya-ku, Tokyo 154-0004 |
Establishment: | September 1995 |
Paid-in capital: | 25,715 million yen (As of October 2005) |
Representative: | President: Yoshimi Ogawa |
Principal business activities: | Developing media services businesses for the ubiquitous computing society that offer content or solutions involving mobile and a wide-range of other medias. |
URL: | http://www.indexweb.co.jp |
Outline of Promise Co., Ltd.
Company name: | Promise Co., Ltd. (First Section of Tokyo Stock Exchange: 8574) |
Location of head office: | 1-2-4, Otemachi, Chiyoda-ku, Tokyo 100-0004 |
Establishment: | March 20, 1962 |
Paid-in capital: | 80,737 million yen |
Representative: | President: Hiroki Jinnai |
Principal business activities: | Consumer finance |
URL: | http://www.smbc-cf.com |
