logo
Share SHARE
FONT-SIZE Plus   Neg

Pansoft Buys Left Over 20% Stake In Pansoft (Japan) - Quick Facts

Pansoft Co. Ltd. (PSOF) said it has acquired the remaining 20% stake in Pansoft (Japan) Co. Ltd., now making it a wholly owned subsidiary of Pansoft.

Pansoft stated that it acquired the partners' 20% stake at no additional cost due to their failure to meet the terms of the joint-venture agreement, specifically to transfer sufficient orders from their pre-existing Japanese clients to the joint venture. The share transfer agreement was drafted in the middle of February and executed recently.

Pansoft (Japan) was established in August 2010 to provide outsourcing functions for Japanese clients, initially in the area of cell-phone software testing. Pansoft originally owned an 80% stake in the joint venture, with two Japanese companies, Management Information Center Co., Ltd. And Seven Colors Corporation (the "Partners"), owning the remaining 20% stake.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
GoPro has just launched a facile camera, its smallest and lightest yet, as the action-camera sports maker seeks to further entice its adventure-seeking consumers. Oreo, the popular two chocolate wafers with a sweet crème filling in between has now got a new look. With about half the width of the regular Oreo, the new Oreo Thins will be thinner and slightly reduced in calorie. It will be available from July 13 with no change in its cookie taste and price tag. The Justice Department has initiated a probe to find out if airlines are colluding to limit seating capacity in order to benefit from higher airfares.
comments powered by Disqus
Follow RTT