LOS ANGELES and TOKYO, Oct. 8, 2018 /PRNewswire/ -- BlackLine, Inc. (Nasdaq: BL) announced today that it has established a subsidiary in Tokyo to help the growing number of companies in Japan looking to increase automation, efficiency, financial governance and risk management across their accounting and financial operations.
The new subsidiary, BlackLine K.K., is a joint venture between BlackLine, Inc. and Japan Cloud, a Tokyo-based professional services firm that helps leading U.S. businesses succeed in the Japan market. To date, Japan Cloud principals have launched the Japan operations of industry leaders such as Salesforce.com, Concur, Marketo, Kyriba and Demandware.
"Japan is the world's second largest enterprise software market. Our mission is to bring world-class SaaS companies to Japan and we are extremely excited to partner with BlackLine, a leading provider of financial close automation solutions, and to provide our proven platform to support BlackLine in Japan," Aruna Basnayake, CEO of Japan Cloud, said. "We believe the market for BlackLine in Japan is untapped and vast. We are confident that BlackLine's underlying technology will provide crucial solutions to streamline numerous processes across the Finance & Accounting function for Japanese companies."
"We see significant opportunity to help companies based in Japan with their finance transformation journeys and believe now is the time to expand in the region," said BlackLine, Inc. CEO Therese Tucker. "We believe Japan Cloud's proven track record growing enterprise SaaS businesses in Japan will help BlackLine establish a strong market presence."
About Japan Cloud
Japan Cloud partners with leading U.S. software businesses to succeed in the Japanese market. The founders at Japan Cloud have led successful Japan joint ventures for Salesforce.com, Concur, Marketo, Kyriba and Demandware, as well as the launch of Oracle Japan. Most recently, Japan Cloud announced a joint venture with New Relic, Inc. Learn more at japancloud.co.jp.
BlackLine is a provider of cloud-based solutions that transform Finance and Accounting (F&A) by automating, centralizing and streamlining financial close operations, intercompany accounting processes and other key F&A processes for large and midsize organizations. The company is recognized by Gartner as a Leader in its 2018 Magic Quadrant for Cloud Financial Close Solutions and as a pioneer in the cloud market for enhanced financial control and automation.
Designed to complement virtually all ERP and other financial systems including SAP, Oracle and NetSuite, BlackLine increases operational efficiency, real-time visibility, control and compliance to ensure end-to-end financial close management and accounting automation from within a single, unified cloud platform. Enabling customers to move beyond outdated processes and point solutions to a Continuous Accounting model, in which real-time automation, controls and period-end tasks are embedded within day-to-day activities, BlackLine helps companies modernize accounting operations with intelligent automation, ensuring more accurate and insightful financial statements and a more efficient financial close.
More than 2,400 companies with users around the world trust BlackLine to help ensure balance sheet integrity and confidence in their financial statements. BlackLine is based in Los Angeles with regional headquarters in London, Singapore and Sydney. For more information, please visit www.blackline.com.
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expect," "plan," anticipate," "believe," "estimate," "predict," "intend," "potential," "would," "continue," "ongoing" or the negative of these terms or other comparable terminology. Forward-looking statements in this release include statements regarding our growth plans and opportunities.
Any forward-looking statements contained in this press release are based upon BlackLine's current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to risks related to the Company's ability to execute on its strategies, attract new customers, enter new geographies and develop, release and sell new features and solutions; and other risks and uncertainties described in the other filings we make with the Securities and Exchange Commission from time to time, including the risks described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission on March 8, 2018. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2018.
Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.