Sansan : Notification Regarding Share Acquisition of logmi,Inc. to Convert It into a Subsidiary
08/26/2020 | 03:01am EDT
August 26, 2020
To whom it may concern:
Representative Director & CEO
(Code: 4443 TSE Mothers)
Notification Regarding Share Acquisition of logmi, Inc. to Convert It into a Subsidiary
Sansan, Inc. (the "Company") hereby announces that the Company resolved at the Board of Directors Meeting held on August 26, 2020, to acquire shares of logmi, Inc. ("logmi") and make it a subsidiary.
1. Reason for the Share Acquisition
Under the mission of "Turning encounters into innovation," the Sansan Group ("the Group") is developing services tied to solving various issues that companies and business people face. Specifically, the Group operates the Sansan Business, which provides "Sansan," a cloud-based business card management service that enables users to digitize business cards in order to visualize and share the networks between individuals as data, and the Eight Business, which operates "Eight": Your Business Card Management App that incorporates a system of social networking services and changes business cards into a business network. Moreover, the Company aims to augment functionality and content of the respective services by providing solutions that enlist technologies amassed by the Company thus far and holding private conferences, business events and other such activities.
Aiming to realize improvements in shareholder value and corporate value over the medium to long term, the Group is currently actively working to create new businesses and accelerate the development of those businesses by leveraging the strengths of the Group. At the same time, the Group is addressing the further growth of the Sansan Business and the monetization of the Eight Business.
Established in August 2013, Iogmi operates as its main service media that raises all documentation, such as speeches, talks, and press conferences, logs them, and delivers that information to many people. Specifically, among the media managed are "Iogmi Biz," a media service that delivers the content of events and conferences on the themes of IT, innovation, and entrepreneurship to highly information-sensitive business leaders, and "Iogmi Finance," which delivers information, such as financial results briefings for analysts and institutional investors to a wide range of stakeholders, mainly individual investors. With monthly views of 3 million business people, logmi possesses high recognizability and brand power as well as a unique business model.
Under such circumstances, the Company has made Iogmi a subsidiary and is working to further expand Iogmi's business results by leveraging the client base and user base that the Group has cultivated up to now, introducing sales and data utilization know-how as well as implementing cross-selling. The Company will also work to further improve the service value of both companies by developing linked products in event- and advertising-related businesses and implementing efforts to improve the value of Iogmi's article database.
2. Outline of the Company (logmi) to Become a Subsidiary (As of July 31, 2020)
Note: Since this is an optional disclosure item that does not fall under the disclosure standards stipulated under the Rules for Timely Disclosure of Corporate Information by Issuers of Listed Securities, some descriptions have been omitted.
3. Number of Shares to Be Acquired, and Shares Held Before and After the Acquisition
Number of Shares Held Before the Transfer
(number of voting rights 0, ownership 0.0%)
Number of Shares to Be Acquired
(number of voting rights 263)
Number of Shares Held After the Transfer
(number of voting rights 263, ownership
（1） Date of Decision
August 26, 2020
Date of Agreement
Date of Execution of Share Acquisition
It is expected that logmi's business results will be expected to begin contributing to the Company's consolidated business results from the second quarter of the fiscal year ending May 2021 (from September 2020), but the impact on the consolidated business results for the current fiscal year will be minor.