KDDI CORPORATION
SUMITOMO CORPORATION
May 22,2019
KDDI CORPORATION (Headquarters: Chiyoda-ku, Tokyo, President Makoto Takahashi) and SUMITOMO CORPORATION (Headquarters: Chiyoda-ku, Tokyo, President and CEO Masayuki Hyodo) plan to jointly operate a mobile game publishing business in the Republic of the Union of Myanmar through FUNCREATE MYANMAR LTD. (FCM), a subsidiary of Singapore-based joint venture FUNCREATE PTE. LTD. (FC).
Both FC and FCM are assembling a repertoire of mobile device games from Japan and other countries which they plan to localize and distribute throughout Myanmar. They will also implement promotional activities. By delivering the worlds popular mobile games throughout Myanmar, the partners will contribute to establishing the comfortable and enriching of lifestyles.
Myanmars population of approximately 53 million [
1] has a mobile phone dissemination rate of over 100%, and more than 70% of the devices in use are smartphones [
2]. A compound annual growth rate (CAGR) of 52% [
3] is forecast for the mobile game market, in line with development of the mobile phone market. The new business plan aims to attract more than 1 million downloads of each game title on offer.
In conjunction with this game business effort, KDDI is building a strategic partnership with goGame Pte. Ltd, a Singapore-based mobile game service provider with knowledge and experience that enables it to excel at game procurement, development, operation and marketing throughout Asia. The result will be a synergistic effect in combination with KDDIs experience and expertise in the field of smartphone apps.
SUMITOMO CORPORATION is attracting interest with its overseas implementation of animation and other content. As part of that effort, it initiated a mobile game sales operation centering on North America in 2018. In Myanmar, SUMITOMO CORPORATION will provide strategic marketing proposals for the new mobile game business operation, tailored to the local market.
KDDI and SUMITOMO CORPORATION, in partnership with Myanma Posts and Telecommunications (MPT), are jointly operating telecommunications business in Myanmar.
For this new business, KDDI and SUMITOMO CORPORATION will combine its know-how and experience about mobile gaming business, and also the customer base of the joint operation.
The result will be enhanced synergy that contributes to Myanmars economy and industry, as well as the lifestyle of its citizens.
Joint venture overview
(1)
Name: FUNCREATE PTE. LTD.
(2)
Location: Republic of Singapore
(3)
Representative: Managing Director Hideki Shimizu
(4)
Business operations: Acquisition and development of mobile game titles
(5)
Established: Nov. 22, 2018 (joint venture as of Apr. 26, 2019)
(6)
Shareholding ratio: KDDI 51%, SUMITOMO CORPORATION 49%
Subsidiary overview
(1)
Name: FUNCREATE MYANMAR LTD.
(2)
Location: Yangon Region, Republic of the Union of Myanmar
(3)
Representative: Managing Director Hideki Shimizu
(4)
Business operations: delivery, marketing and operation of mobile game titles in Myanmar
(5)
Established: Nov. 30, 2018
(6)
Shareholding ratio: FUNCREATE PTE. LTD. 100%
Notes:
[1]
IMF statistics, current as of 2018.
[2]
GSMA statistics, current as of 2018.
[3]
KDDI/SUMITOMO CORPORATION survey results, current as of 2016.
The information contained in the news releases is current at the time of publication. Products, service fees,service content and specifications, contact information, and other details are subject to change without notice.
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