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June 1, 2017
Company: SOURCENEXT Corporation
Noriyuki Matsuda, President and CEO
(Code: 4344 Tokyo Stock Exchange 1st Section)
Contact: Administration Group
Fumihiko Aoyama, Managing Director
TEL: 03-6254-5231
SOURCENEXT Forms Business Alliance with Sygic
a. s.
(Tokyo, Japan –June 1, 2017) SOURCENEXT Corporation announced today, that they have signed a contract to form a business alliance with Sygic a. s. (henceforth referred to as "Sygic"), the global leading development company based in Slovakia. Details of the business alliance as below:
1. Background of Alliance
Sygic is the leading international provider of GPS navigation software and location based services. Company is providingmany popular apps such as Sygic GPS Navigation, the most advanced navigation in the world proven by 150 million users or "Family Locator", which keeps family secure and connected. They are a highly renowned company, who have also been selected as one of the "fastest growing IT companies in Central Europe)" by Deloitte Central Europe.
By taking the highly potential products developed by Sygic, SOURCENEXT aims to collaborate their knowledge and experience in the area of software planning / marketing / development, to bring forth even further growth and new business opportunities for both parties.
2. Details of Business Alliance
SOURCENEXT will distribute the app, "Family Locator" developed by Sygic, in the Japanese region.
3. Corporate Overview of Sygic
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(1) Corporate Name |
Sygic a. s. |
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(2) Office Location |
Karadzicova 14 Bratislava 82108 Slovakia |
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(3) Representatives |
Michal Stencl CEO |
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(4) Details of Business |
Planning / Developing / Selling Smartphone apps |
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(5) Capital |
50,250EUR |
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(6) Founded |
2004 |
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(7) Relationship between Company and SOURCENEXT |
Capital Relationship |
No Capital Relationships with Company. |
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Personal Relationship |
No Personal Relationships with Company. |
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Business Relationship |
No Business Relationships with Company. |
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(8) Operating Results and Financial Conditions of the Company from recent 3 Years |
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Fiscal Period |
Fiscal Period ending March 2014 |
Fiscal Period ending March 2015 |
Fiscal Period ending March 2016 |
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Net Assets |
8,767,762EUR |
5,738,448 EUR |
10,100,545 EUR |
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Total Assets |
11,570,892 EUR |
7,945,905EUR |
12,037,767 EUR |
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Sales |
16,834,225 EUR |
18,410,423EUR |
19,341,877EUR |
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Operating Income |
6,684,647EUR |
7,311,779 EUR |
7,140,734EUR |
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Ordinary Income |
6,729,499 EUR |
7,446,152 EUR |
7,090,031 EUR |
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4. Key Dates
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(1) Agency Decision for executing Partnership Agreement |
June 1 2017 |
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(2) Contract Signing Date |
June 1 2017 |
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(3) Begin Partnership |
June 2017 (Expected Date) |
5. Future Forecasts
Although SOURCENEXT see the financial impact from this partnership to be minimal for the Fiscal Year ending March 2018, they believe that in the long term, this partnership will lead to increased corporate value in the years to come. If any events or issues arise which may affect future business performances, SOURCENEXT shall promptly make notice of such.
