Announcing the creation of a Thai subsidiary for the development of a multi-lingual site and cross-border EC promotion.

Dear customers,

Our company established the subsidiary below on March 23rd, 2016 in the Kingdom of Thailand (hereafter referred to as ‘Thailand’).

This establishment has been certified under the Investment Incentives Act *1 by The Board of Investment of Thailand (hereafter referred to as ‘BOI’)*2, and having been established with 100% foreign capital shall qualify for corporate tax reductions and favorable conditions regarding work permits.

1. Purpose of the subsidiary

We have expanded for the creation of a multi-lingual site in the Japanese market, a cross-border e-commerce platform, and the related tasks such as translation and overseas sales promotion,

Currently, Thailand is playing a central role in the consistent economic growth on display in Southeast Asia. At the end of 2014 the ASEAN Economic Community (AEC) was inaugurated, giving birth to an economic community with a population of 600 million.

The primary goals of the new Thailand subsidiary will be the development of a multi-lingual E-Commerce system and promotional activities throughout Southeast Asia.

Using this subsidiary as a starting point, our goal is to continue to develop throughout Asia.

2. Subsidiary details

(1) Name
Huddle Co.,LTD
(2) Address
Room#2718 27th Floor, 1 Qhouse Lumpini, South Sathorn Road., Tungmahamek,Sathorn, Bangkok 10120 Thailand
(3) President & CEO
Atsushi Kawamata
(4) Business content
Software Development
(5) Capital
1 million THB
(6) Establishment date
March 23rd, 2016

*1) Economic Incentives Act
The Economic Incentives Act is a law intended to encourage certain target industries through the use of tax benefits and other incentives. The country is divided into three zones, with the incentives increasing the further one moves from Bangkok.

※2) The Board of Investment of Thailand (BOI)
The Board of Investment of Thailand (BOI) is an investment promotion agency operating under the umbrella of the Thailand Ministry of Industry that is responsible for formulating investment policy, approving investment projects, and granting benefits. They have offices in Tokyo and Osaka, where they enthusiastically conduct seminars and provide information and counseling for potential investors in Thailand.

Source: JETRO (Japan External Trade Organization)