Completion of Strategic Investment in SupercellNovember 1, 2013
GungHo Online Entertainment, Inc.
SoftBank Corp. (“SoftBank”) and GungHo Online Entertainment, Inc. (“GungHo”) announced that they invested USD 1.53 billion (approximately JPY 151.5 billion*) in Supercell Oy (“Supercell”), a mobile game company headquartered in Finland, and hold 51% of Supercell's outstanding voting stock on October 31, 2013 through a special purpose company jointly established in Finland by SoftBank and GungHo (the “Transaction”). For details concerning the Transaction, please refer to the press release “SoftBank and GungHo Announce Strategic Investment of USD 1.5 Billion in Supercell,” dated October 15, 2013.
- *Converted at USD = JPY 99.
1. About Supercell
|(1) Name||Supercell Oy|
|(2) Address||Itämerenkatu 11-13 00180 Helsinki Finland|
|(3) Name and title of representative||CEO Ilkka Paananen|
|(4) Nature of business||Mobile/Social Interactive Entertainment|
|(5) Common stock||EUR 2,500|
|(6) Founded||May 14, 2010|
2. Acquisition-related Costs for the Transaction
(1) Acquisition-related costs (estimate)
Approximately JPY 3.2 billion
(2) Recording of the acquisition-related costs
SoftBank anticipates recording the full amount of the acquisition-related costs as selling, general and administrative expenses on its consolidated statements of income under IFRSs for the nine-month period ending December 31, 2013. GungHo expects to record approximately JPY 600 million as a part of investment securities on its consolidated balance sheet under JGAAP for the fiscal year ending December 2013.
3. Impact on the Financial Results
SoftBank will announce the impact of the Transaction on its financial results, once it has been determined. The impact on GungHo's financial results will be minor.
- Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.