GREE and Yahoo! JAPAN Establish Joint Venture- New company to develop and operate mobile social games -
TOKYO, Japan – February 18, 2013 – GREE, Inc. (“GREE”) and Yahoo Japan Corporation (“Yahoo! JAPAN”) today announced that they have agreed to establish GxYz, Inc.(“GxYz”; tentative name), *a joint venture that will focus on the development and operation of social games for smartphones.
GREE, operator of GREE, one of Japan's largest social networking services, and Yahoo! JAPAN, operator of Yahoo! JAPAN, one of Japan's largest Internet media portals, entered into an agreement in November 2012 to develop a business partnership aimed at leveraging their respective strengths and creating a new entertainment business focusing on smartphones.
As part of their collaboration to date, the two companies have introduced links to social games on GREE on the top and other pages of the smartphone version of Yahoo! JAPAN, and are also conducting the Tokyo 2020 Olympics and Paralympic Bid Promotion Tanoshii Koyaku Project as part of their joint CSR activity.
Through the establishment of GxYz, the two companies aim to strengthen their smartphone social gaming business partnership, combining the user acquisition capabilities of Yahoo! JAPAN with the social gaming development and operational expertise of GREE, while developing exceptional social games that will open up new possibilities in the game development business.
GREE and Yahoo! JAPAN aim to work together to create new value in the Internet and entertainment world, sharing and copromoting content while carrying out joint CSR activities.
Overview of new company
|Trade name||GxYz, Inc.(tentative name)|
|Main business||Development and operation of social games|
|Capital||¥200 million (shareholder ratio: GREE: 51%; Yahoo! JAPAN: 49%)|
|Date of establishment||March 15, 2013 (planned)|
|Members of the board||
About Yahoo Japan
Yahoo Japan Corporation is a leading internet brand and one of the most trafficked Internet destinations in Japan. Yahoo Japan seeks to provide online products and services essential to users' lives, and offers a full range of tools and marketing solutions for businesses to connect with Internet users in Japan. Yahoo Japan is headquartered in Tokyo, Japan.
About GREE, Inc.
GREE is a global mobile social company with businesses that include social gaming, social media, advertising, licensing and merchandising, and venture capital. Established in December 2004, GREE operates one of Japan's largest social networking services, supporting 14 languages. GREE created the world's first mobile social game in 2007 and today its mobile social gaming ecosystem reaches 169 countries and regions. GREE has offices in Tokyo, Osaka, San Francisco, London, Singapore, Seoul, Beijing, Amsterdam, Dubai, Sao Paulo, and Vancouver.