Culture Convenience Club Co., Ltd. (hereinafter “CCC”) and Sharp Corporation (hereinafter “Sharp”) announced today that they have signed an agreement to establish a joint venture company for an e-entertainment content service business. The joint venture company will manage content service offering newspaper, magazine, video and audio content, for Sharp’s “GALAPAGOS” tablet terminal and Sharp smart phones*1.
1. Joint Venture Company Overview
| Company Name |
TSUTAYA GALAPAGOS Co., Ltd. |
| Location |
Shibuya-ku, Tokyo, Japan |
| Representative |
Rie Nakamura, Representative Director, President |
| Principal Business |
Management of “TSUTAYA GALAPAGOS”
Delivery and sales of e-content, Advertisement service |
| Capital |
100 million yen |
| Establishment Date |
December 1, 2010 |
| End of Fiscal Year |
March |
| Net Assets |
200 million yen |
| Total Assets |
200 million yen |
| Shareholding Ratio |
CCC: 51%, Sharp: 49% |
2. Schedule
| November 19, 2010 |
Signature of agreement for the establishment of the joint venture |
| December 1, 2010 |
Establishment of the joint venture company |
| December 2010 (plan) |
Start of e-entertainment content service business including newspaper and magazine content |
| *1 |
Sharp’s smart phone supporting this service is planned to be released in the spring of 2011. |
| The following information is true and accurate at the time of publication. Manufacture, sale, price and specifications of products may be subject to change. |
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