2015.08.05 Corporate
Tokyo, Japan – August 5, 2015 – LINE Corporation, owner and operator of the free call and messaging app LINE, today announced that it has reached a basic agreement for the establishment of Lantu Games Limited, a new joint venture, with LongTu Korea.
The new company will combine LINE’s extensive user base across Asia and the globe, as well as its experience in developing a game platform with LongTu’s advanced game development and management capabilities—exemplified by the hit title Dao Ta Chuan Qi, which has more than 80 million downloads across China and the world—to develop and distribute smartphone games that are competitive on a global level. The new company will develop new titles and help with joint publishing of LINE and LongTu-owned games for the respective dominant markets of both companies. Asia will serve as a foothold for its expansion to other markets worldwide. 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 LongTu hope to further accelerate the development of their respective businesses while providing high-quality Asia-made games to players around the world.
Overview of the New Company
Company name: Lantu Games Limited
Location: Hong Kong, China
Founded: Mid-August 2015 (Tentative)
Capital: USD 20,000,000 (Tentative)
Investment Ratio: LINE 50％, LongTu 50%
President & CEO: Shenghui Yang (LongTu Korea President & CEO)
Business Description: Planning, development and distribution of smartphone games
Overview of LINE (as of April 1, 2015)
Company name: LINE Corporation
Headquarters: Shibuya Hikarie 27F, Shibuya 2-21-1,
Shibuya Ward, Tokyo, Japan, 150-8510
Representative: President & CEO Takeshi Idezawa
Business description: Internet enterprises and web-based services (LINE, NAVER, livedoor)
Capital: JPY 12,596,190,000
Founded: September 4, 2000
Overview of LongTu Korea (as of March 30, 2015)
Trade Name: LongTu Korea
Headquarters: BYC High City Building, 131, Gasan Digital 1-ro, Geumcheon-gu, Seoul, Korea
President & CEO: Shenghui Yang
Business Description: Web/mobile game R&D and game management operations
Establishment: March 30, 2015