Yahoo Japan Corporation : Notification of Purchase of Shares of CyberAgent FX, Inc. (Conversion to Consolidated Subsidiary)
12/13/2012| 04:29am US/Eastern
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To whom it may concern
December 12, 2012
Yahoo Japan Corporation
Manabu Miyasaka, President & CEO Stock code: 4689
Notification of Purchase of Shares of CyberAgent FX, Inc. (Conversion to Consolidated Subsidiary)
Yahoo Japan Corporation today announced its decision to purchase shares of CyberAgent FX, Inc., (Head office: Shibuya-ku, Tokyo; President and CEO: Shinichi Saijo, hereinafter CyberAgent FX) converting the company to a consolidated subsidiary. CyberAgent FX is currently the wholly owned subsidiary of CyberAgent, Inc,, (Head office: Shibuya-ku, Tokyo; President and CEO: Susumu Fujita; Stock code: 4751). Details are as follows.
The purchase of the above shares is premised on the completion of the approval process with relevant public authorities through the submission of documents, etc.
I. Reasons for Purchase of Shares
1. Strengthen settlement and financial services business and establish the base for a new business
Yahoo Japan Corporation wants to establish the base for a new business for the future that will aim to further expand its settlement and financial services business. Up until now, the Company's settlement services have centered around Yahoo! Wallet and other services. However, as one method of strengthening this business, the Company has decided to acquire and convert CyberAgent FX, a major player in the foreign exchange (FX) market, into a wholly owned subsidiary. Yahoo Japan Corporation is taking this action in order to enter the FX market, which is one of the growing areas of the financial services market. This purchase will smooth the way for Yahoo! Japan Corporation's FX market entrance and enable the efficient acquisition of financial services business and financial system development know how from the perspective of both time and cost. In addition, the Company plans to use CyberAgent FX's smartphone trading tool, one of its competitive strengths in the FX market, to further increase smartphone usage of its services in accordance with its initiatives to achieve the No. 1 position in the smartphone market.
2. Synergies with Yahoo! JAPAN's Current Business
(1) Enhance Yahoo! JAPAN user loyalty
The Company has a pay membership service, Yahoo! Premium, that provides members with various services and special benefits. With the acquisition of CyberAgent FX, the Company will seek to raise the degree of user satisfaction with Yahoo! Premium services by adding previously non-existent services for members, such as introductions to investment products and other services. Using its Yahoo! Points program, the Company also plans to improve services in Yahoo! JAPAN's own unique way, such as offering points for doing transactions using its system.
(2) Leveraging Yahoo! JAPAN's customer attraction power to conduct effective service promotions
The Yahoo! JAPAN website operated by the Company is one of the largest Internet general information sites in Japan, boasting 48.61 million personal computer (PC) users*1 and 19 million smartphone users*2. Leveraging this customer attraction power, the Company will further expand the number of users of CyberAgent FX's services by conducting effective service promotions.
*1 Number of unique browsers per month including access from home and work by PCs according to the
October 2012 survey by Nielson Online (NetView).
*2 Figure determined by Yahoo Japan Corporation (as of September 2012).
II. Outline of Subsidiary to Be Transferred (CyberAgent FX)
(1) Name
CyberAgent FX, Inc.
(2) Head office
1-12-1 Dogenzaka, Shibuya-ku, Tokyo
(3) Representative
Shinichi Saijo, President and CEO
(4) Main business
Foreign exchange margin trading (FX)
(5) Paid-in capital
¥490 million
(6) Establishment
September 1, 2003
(7) Major shareholders and
shareholding ratio
CyberAgent, Inc.: 100%
(8) CyberAgent FX's relationship with Yahoo Japan Corporation
Capital ties
There are no capital ties that should be noted
between the Company and CyberAgent FX.
(8) CyberAgent FX's relationship with Yahoo Japan Corporation
Personnel ties
There are no personnel ties that should be noted
between the Company and CyberAgent FX.
Business ties The Company provides CyberAgent FX with paid
search advertising services.
(9) CyberAgent FX's Performance and Financial Position in the Past Three Years
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