September 17, 2020 | |
Company Name: | N I S S O C O R P O R A T I O N |
Representative: | Ryuichi Shimizu, |
Chairman, President, | |
CEO & Representative Director | |
(Securities Code: 6569, TSE First Section) | |
Contact Person: | Kenichi Nomura, Senior Executive Officer, |
Corporate Planning Department Director | |
(TEL. +81-45-514-4323) |
(Progress of Disclosure Items) Notice of Conclusion of
Capital Alliance Agreement and Business Alliance Agreement with
Cross Compass Ltd.
With regard to the capital alliance and business alliance (hereinafter, "Capital/Business Alliance) with Cross Compass Ltd. (hereinafter, "Cross Compass") announced in the "Notice of Conclusion of Basic Agreement for Capital and Business Alliance with Cross Compass Ltd." on August 7, 2020, NISSO CORPORATION (hereinafter, the "Company") hereby announces that it has resolved to enter into this Capital/Business Alliance at the Board of Directors' Meeting held on September 15, 2020, and has concluded the capital alliance and business alliance agreement (hereinafter, "Capital/Business Alliance Agreement") on September 17, 2020, as follows.
1. Purpose and Reason for Capital and Business Alliance
Based on its founding philosophy of "Nurturing and Bringing Out the Best in People", the Company will create an environment where workers can gain a sense of fulfillment and flourish, as well as upholding its vision of "To Be the Finest Professional Organization Supporting Made-in-Japan".In addition, the Company has aimed to provide high-qualityservices that enables it to continuously grow as a company.
On the other hand, with the vision of "AI Closer to You", Cross Compass has gathered talented AI-related engineers from all over the world and is engaged in the development and technical consulting of AI mainly aimed at solving problems for clients in the manufacturing sector.
As it is required to respond to changes in the environment, such as the normalization of new behavioral patterns due to the progress of digital technology and the spread of new coronavirus infections, the movement to introduce automation and AI is expected to accelerate further at manufacturing sites.
Under these circumstances, by leveraging the strengths and expertise of both companies, the Company and Cross Compass have determined that creating high value-added services for the manufacturing industry referred to as "Worksite Solutions by Humans and AI", with the aim of improving the productivity and quality of manufacturing sites through digitalization, will contribute to the enhancement of corporate value for both companies.
Furthermore, the Company has decided on capital participation in order to build a medium- to long-term relationship with Cross Compass to achieve synergy, and thus has resolved this Capital/Business Agreement.
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2. Overview of Cross Compass Ltd.
(1) Company name | Cross Compass Ltd. | ||
(2) | Location | 2-9-11-9F Shinkawa, Chuo-ku, Tokyo | |
(3) | Representative | CEO Katsunobu Suzuki | |
Digital technology consulting for manufacturing industry centered on | |||
(4) | Business description | artificial intelligence | |
Development and provision of products | |||
(5) | Capital | 134 Million JPY | |
(6) | Date of establishment | April 10, 2015 (Founded: October 17, 2011) | |
(7) | Relationship between | Capital ties | Not applicable. |
Personal relations | Not applicable. | ||
listed company and | |||
Business relations | Not applicable. | ||
company concerned | |||
Applicable status to | Not applicable. | ||
related parties | |||
(Note) The "major shareholders and shareholding ratio", as well as the "results of operations and financial position for the previous 3 years" for the company concerned, is not being disclosed at the discretion of the company concerned.
3. Content of Business Alliance
The two companies will consider and implement the business alliance mainly related to the following matters.
The specific contents, conditions, timing of the implementation, etc., will be determined by concluding an individual agreement between the two parties separately.
・Sales expansion/promotion of services utilizing both client bases and sales networks ・Joint development of platforms for the manufacturing industry
・Human resources exchanges for the purpose of training/development
・Other contents discussed by both parties that will contribute to the enhancement of corporate value
4. Content of Capital Alliance
Cross Compass will issue common shares to the Company through a third-party allotment of shares, which the Company underwrite.
0 shares | ||
(1) | No. of shares held before change | (No. of voting rights: 0) |
(Percentage of voting rights held: 0.0%) | ||
100,000 shares | ||
(2) | No. of shares to be acquired | (No. of voting rights: 100,000) |
(Percentage of voting rights held: 19.9%) | ||
(3) | Acquisition value | 300 million yen |
(4) | No. of shares to be held after change | 100,000 shares |
5. Schedule | ||
(1) | Date of resolution of Board of Directors | September 15, 2020 |
(NISSO CORPORATION) | ||
(2) | Date of resolution of Board of Directors | September 17, 2020 |
(Cross Compass) | ||
(3) | Date of conclusion of capital alliance | September 17, 2020 |
agreement and business alliance agreement | ||
(4) | Date of transfer of shares and start date of | September 25, 2020 |
business alliance |
6. Impact on Future Business Performance
Although the impact of this Capital/Business Alliance on the consolidated financial results of the Company for FY 3/2021 will be minor, the Company believes that it will contribute to the improvement of business performance in the long-term.
In the future, if an event that significantly affects the consolidated financial results, etc., of the Company occurs, it will be promptly announced.
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Nisso Corporation published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 06:04:01 UTC