SQUARE ENIX HOLDINGS CO., LTD. Announces Notice of Dissolution of Subsidiaries and Booking of an Extraordinary Loss

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Jan 05, 2016, 09:47 ET

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TOKYO, Jan. 5, 2016 /PRNewswire/ -- A couple of wholly-owned subsidiaries of the Company have decided to dissolve and liquidate, and as a result, the Company will book an extraordinary loss as follows.

1. Details of Subsidiaries

Name	Shinra Technologies, Inc. (a wholly-owned subsidiary of the Company, "STI")	Shinra Technologies Japan Co., Ltd. (STI's wholly-owned subsidiary)
Address	225 W. 34th Street, Suite 2008 New York, NY 10122, U.S.A.	6-27-30, Shinjuku, Shinjuku-ku Tokyo 160-8430, Japan
Representative	Yoichi Wada Director, President and Secretary	Yoichi Wada President and Representative Director
Incorporated	March 18, 2014	August 20, 2014
Scope of Business	Cloud platform business	Cloud platform business
Capital	US$10.00 (Paid-in capital: US$15 million)	JPY50 million (Paid-in capital: JPY80 million)
Reason of the Dissolution	STI, as a cloud platform operator, has been trying to raise funds necessary for further business operations from third party investors. However, STI has found no prospective investors at this point, and therefore has to discontinue its business.	-
Estimated Date of Completion of Liquidation	March 31, 2019	June 30, 2016

2. Influence on the Company's Consolidated Financial Results

The Company will book an extraordinary loss of approximately 2 billion yen in the consolidated financial results for fiscal year ending March 31, 2016.

(Out of the above-mentioned amount, the Company has already posted a Loss on Liquidation of Subsidiaries and Affiliates of approximately 1.1 billion yen in the consolidated financial results for the six-month period ended September 30, 2015.)

Company:	SQUARE ENIX HOLDINGS CO., LTD.
	(Code: 9684, Tokyo Stock Exchange)
Representative:	Yosuke Matsuda, President and Representative Director
Contact:	Michihiro Sasaki, General Manager, Corporate Planning
	Tel (03) 5292-8000