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MarketScreener Homepage  >  Equities  >  Tokyo  >  Benesse Holdings Inc    9783   JP3835620000

BENESSE HOLDINGS INC

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Benesse : Berlitz and CiiC Shanghai sign Master Franchise Agreement, bringing premium Kids & Teens English-language offering to China

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10/26/2018 | 06:22am EDT

October 26, 2018

Benesse Holdings, Inc.

Our consolidated subsidiary, Berlitz Corporation, announced the press release below ;

===============================================

Berlitz and CiiC Shanghai sign Master Franchise Agreement, bringing premium Kids & Teens English-language offering to China

Berlitz Franchise Corporation has signed a Master Franchise Agreement with Shanghai CIIC International Training Center to develop jointly the Kids & Teens English training market in China. The collaboration will create a premium brand for English-language education aimed at the youth market in China.

The deal will see 100+ new Berlitz Kids & Teens Learning Centers open across China over the next 5 years. The first will open on October 21st in Shanghai.

As a language training institution with over 140 years' experience, Berlitz is known

worldwide for its professional, high-quality language and cross-culture training services and is a world leader in this space. Berlitz Corporation, owns and operates 450 learning centres in 70 countries. Shanghai CIIC International Training Center is the affiliate of China International Intellectech (Shanghai) Corporation Ltd. It is a key state-owned enterprise under the management of the central government and covers language training, corporate training, vocational training and youth training, with a particular commitment to cross-culture communication programs.

Mr. Zheng Teng, the Vice Chairman of China International Intellectech Shanghai

Corporation Ltd (CIIC) said: "With 140 years of history, Berlitz Corporation is

renowned worldwide for its premium language and cross-culture training services, bringing a pure and systematic way of learning to English learners around the world.

We believe that under the joint efforts of our partnership, we can fully utilize our respective resource and advantages, and promote the rapid expansion and steady development of Berlitz Kids & Teens English training for young learners in China, bringing English to Chinese families.

Mr Curt Uehlein, President & CEO Berlitz Corporation said: "Strategically, China is a

core part of our global expansion strategy, and we are delighted and honoured to be partnering with such a prestigious and respected company like CIIC in China."

Said Chris Eden, Senior Vice President Franchising, Berlitz Corporation: "CIIC represents the ideal franchise partner for Berlitz: it has a strong local presence,

proven operation abilities and a deep knowledge of the market place."

The partnership will expand the proven Berlitz Kids & Teens services for students aged 4-17, to the Chinese market. It gives thousands of children the opportunity to develop the language skills as well as cross-cultural understanding and confidence to become empathetic and successful global citizens.

Said Mr Kevin Lynch, Senior Vice President APAC, Berlitz Corporation: "With evolving social policies and a growing population of around 230m children aged between 0-14, China will be a growth market for many years to come. We are very excited to partner

with CIIC on this journey."

Disclaimer

Benesse Holdings Inc. published this content on 26 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 October 2018 09:21:12 UTC

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Financials (JPY)
Sales 2019 440 B
EBIT 2019 -
Net income 2019 4 943 M
Finance 2019 83 744 M
Yield 2019 1,72%
P/E ratio 2019 56,62
P/E ratio 2020 26,66
EV / Sales 2019 0,49x
EV / Sales 2020 0,45x
Capitalization 298 B
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Number of Analysts 7
Average target price 3 633  JPY
Spread / Average Target 25%
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NameTitle
Tamotsu Adachi President, CEO & Representative Director
Shinjiro Iwata Chairman
Katsuhiko Masumoto Senior General Manager-Finance & Communications
Atsunori Takano General Manager-Group Information Technology
Kenichi Fukuhara Vice Chairman
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