2014.10.09 Corporate
TOKYO, Japan—October 9, 2014—LINE Corporation, owner and operator of the free call and messaging app LINE, and GREE, Inc., a global technology company and leading developer of mobile games, announced today that they have entered into a framework agreement to establish Epic Voyage, Inc., a joint venture that will focus on the development and operation of mobile games for LINE GAME, LINE’s global platform for game distribution.
The new company will combine GREE’s advanced development capabilities, accumulated over years as a mobile gaming pioneer, with LINE’s extensive user base across Asia and the globe to produce games that are competitive on a global level. Details concerning the new company, such as plans for game releases and other matters pending decision in the near future, will be disclosed at a later date.
Through the creation of the new venture, LINE and GREE hope to further accelerate the development of their respective businesses while providing high-quality Japan-made games to players around the world.
Overview of New Company
Company name: Epic Voyage, Inc.
Date of establishment: October 31, 2014 (tentative date)
Capital: JPY 10 million
CEO: Eiji Araki, Vice President at GREE, Inc.
Directors: Jun Masuda, CSMO at LINE Corporation
Satoshi Fukuda, Japan Game Business Division at GREE, Inc.
Business: Development of games for the LINE platform
Comment from Jun Masuda, Chief Strategy & Marketing Officer at LINE Corporation
“Since beginning service in November 2012, LINE GAME has released games developed in-house and in conjunction with third-party content providers to players through the LINE platform, establishing its identity and raising its profile as a gaming platform. The service has recently concentrated a greater share of its effort on expanding globally in order to transcend the domestic Japanese market and provide high quality gaming content to the entire world. GREE is the largest developer of native apps in Japan. Their developmental expertise and impressive track record is exactly what LINE GAME needs at this stage, and all of us here at LINE are extremely excited by the opportunity to create a new business venture together. We hope to leverage the strengths of the LINE platform to provide better games than ever to players around the world.”
Comment from Naoki Aoyagi, Senior Vice President at GREE, Inc.
“We are very excited to have the opportunity to work with LINE in this business partnership. GREE already develops mobile games for a global audience at our studios in Japan, North America, and South Korea, and we’re looking forward to bringing some of that accumulated expertise to bear in the new company to produce high-quality games that LINE users will enjoy. By tapping into LINE’s global network, we hope to reach more people than ever with new mobile gaming experiences that will surprise and excite.”
Overview of LINE
Company name: LINE Corporation
Headquarters: Shibuya Hikarie 27F, Shibuya 2-21-1,Shibuya-ward, Tokyo, Japan
Representatives: Akira Morikawa, President; Takeshi Idezawa, COO
Business description: Internet enterprises and web-based services (LINE, NAVER, livedoor)
Capital: JPY 12,596 million
Overview of GREE
Company name: GREE, Inc.
Headquarters: Roppingi Hills Mori Tower, Roppongi 6-10-1, Minato-ward, Tokyo, Japan
Representatives: Yoshikazu Tanaka, Founder, Chairman and CEO
Business description: Mobile gaming, social media, advertising, and venture capital
Capital: JPY 2,262 million (as of June 30, 2014)