DeCurret, a "Main Bank of Digital Currency," obtains Funds to increase its Capital through a Private Placement worth 3.4 billion yen

Globe Newswire 11-Jul-2019 2:08 AM

TOKYO, July 11, 2019 (GLOBE NEWSWIRE) -- DeCurret Inc. (Head office: Chiyoda-ku, Tokyo; President & Representative Director: Kazuhiro Tokita; hereinafter referred to as "the Company") which is an equity method investee of Internet Initiative Japan Inc. (TSEI: 3774) announces that it has obtained funds worth 3.4 billion yen from a total of 12 companies as specified below, including the largest shareholder Internet Initiative Japan Inc.

• Background of the funding
  As the new era of virtual currency is upcoming with greater attention to digital currency, the Company is aiming at being a "main bank of digital currency." To extend the target of its services to digital currency, not limited to virtual currency, and realize the eco-system of digital currency, the Company has decided to acquire more corporate partnerships through raising funds.
  
  
• Purpose of the funding
  The funds obtained this time will be used to strengthen the Company's development system to accelerate its development of a new settlement platform for digital currency. The real-time and direct exchange of value with superior traceability envisioned by the Company is expected to reduce related social costs and invigorate economic activity. The Company will accelerate its activities for digital currency in collaboration with its corporate partners to realize "the integration of transactions and settlements."
  
  
• Companies participating in this round of funding
  Internet Initiative Japan Inc.
  KDDI CORPORATION
  KONAMI HOLDINGS CORPORATION
  SUMITOMO LIFE INSURANCE COMPANY
  DAIDO LIFE INSURANCE COMPANY
  Meiji Yasuda Life Insurance Company
  CHUBU Electric Power Co., Inc.
  Hankyu Hanshin Holdings, Inc.
  MATSUI SECURITIES CO., LTD.
  Energia Communications, Inc.
  SOHGO SECURITY SERVICES CO., LTD. (ALSOK)
  Toppan Printing Co., Ltd.
  
  
• Company overview
  Name: DeCurret Inc.
  URL: https://www.decurret.com/ (Japanese only)
  Address: 2-10-2 Fujimi, Chiyoda-ku, Tokyo
  Establishment: January 2018
  Capital: 8.63 billion yen (including capital reserve) *After the completion of this funding
  Representative: Kazuhiro Tokita, President & Representative Director
  Businesses: Financial services involving transactions and settlements of digital currency
  Virtual currency exchange service provider's registration: Director-General of the Kanto Local Finance Bureau No. 00016
  Member of the Japan Virtual Currency Exchange Association

• Services
  DeCurret
  Service website: https://www.decurret.com/service/
  App Store: https://itunes.apple.com/jp/app/id1444565255
  Google Play Store: https://play.google.com/store/apps/details?id=com.decurret.walletapp
  
  *The names of companies, products, etc. in this news release are trademarks or registered trademarks of the respective companies.

About DeCurret
DeCurret Inc., was founded by Internet Initiative Japan Inc. and other Japanese companies in January 2018. For details, please refer to the following press release https://www.iij.ad.jp/en/news/pressrelease/2018/0125.html

About Internet Initiative Japan Inc.

Founded in 1992, IIJ is one of Japan's leading Internet-access and comprehensive network solutions providers. IIJ and its group companies provide total network solutions that mainly cater to high-end corporate customers. IIJ's services include high-quality Internet connectivity services, mobile services, security services, cloud computing services, and systems integration. Moreover, IIJ operates one of the largest Internet backbone networks in Japan that is connected to the United States, the United Kingdom and Asia. IIJ listed on the First Section of the Tokyo Stock Exchange in 2006.

For inquiries, contact:
IIJ Investor Relations
Tel: +81-3-5205-6500  E-mail: ir@iij.ad.jp  URL: https://www.iij.ad.jp/en/ir