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TOKYO, May 22, 2019 - (JCN Newswire) - KDDI CORPORATION and SUMITOMO CORPORATION plan to jointly operate a mobile game publishing business in 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 world's popular mobile games throughout Myanmar, the partners will contribute to establishing the comfortable and enriching of lifestyles.
Myanmar's 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 KDDI's 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 Myanmar Posts and Telecommunications (MPT), are jointly operating a telecommunications business in Myanmar. For this new business, KDDI and SUMITOMO CORPORATION will combine know-how and experience about the mobile gaming business, and also the customer base of the joint operation. The result will be enhanced synergy that contributes to Myanmar's 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.
About KDDI
KDDI is the second largest telecommunication service provider in Japan, offering both mobile and fixed-line communications. With it's 60-year history and well-established base of over 50 million customers, and through mobile services and shops offering its "au" brand, KDDI is expanding services to the "Life Design" business, which includes fintech, e-commerce and nationwide electric power utility services.
KDDI is focused on creating smart infrastructure through IoT technologies and open innovation with partners and start-up companies in diverse industries. It is also accelerating the global growth of its telecommunications consumer business with operations in Myanmar and Mongolia, and in the global ICT business with the TELEHOUSE brand. KDDI (TYO:9433) is listed on the Tokyo stock exchange. http://www.kddi.com/english/.
Topic: Press release summary
Source: KDDI Corporation
Sectors: Telecoms, 5G, eSports, Gaming, Wireless, Apps, Regional
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From the Asia Corporate News Network
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