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The Bridge announces acquisition by PR Times

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The Bridge announced today that it has agreed to be acquired by Tokyo-based PR Times (TSE:3922), the Japanese promotion agency focused on distributing press releases on behalf of client companies. See also: Japanese startup-focused promotion agency PR Times files for IPO As a result of the deal, The Bridge will continue covering and serving startups and ecosystems as the media outlet have been doing to date. Both parties will strengthen publishing news articles, organize community events, and launch other joint programs for encouraging startups and entrepreneurs. Our announcement in Japanese Press release by PR Times (in Japanese)

The Bridge announced today that it has agreed to be acquired by Tokyo-based PR Times (TSE:3922), the Japanese promotion agency focused on distributing press releases on behalf of client companies.

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As a result of the deal, The Bridge will continue covering and serving startups and ecosystems as the media outlet have been doing to date.

Both parties will strengthen publishing news articles, organize community events, and launch other joint programs for encouraging startups and entrepreneurs.

Japanese startup-focused promotion agency PR Times files for IPO

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See the original story in Japanese. Tokyo-based PR Times, a Japanese promotion agency focused on distributing press releases on behalf of client companies, announced that its IPO application to the Tokyo Stock Exchange has been approved on Friday. The company will be listed on the TSE Mothers Market on 26 March with plans to offer 300,000 shares for public subscription and to sell 114,000 shares in over-allotment options, for a total of 460,000 shares. The underwriting will be led by SBI Securities. Its share price range will be released on 10 March with bookbuilding scheduled to start on 1 March and pricing on 14 March. According to the consolidated statement as of February 2015, they posted a revenue of 845 million Japanese yen ($7.5 million) and an ordinary loss of 92 million yen ($816,000). In the latest fiscal quarter, they posted a revenue of 840 million yen ($7.4 million) and an ordinary profit of 194 million yen ($1.7 million). Led by Japanese promotion agency Vector (TSE:6058, holding a 85.6% stake), its major shareholders include GMCM Venture Capital Partners I Inc. (12.5%), the company’s CEO Takumi Yamaguchi (1.6%), and managing director Kensuke Yamada (0.3%). Previously known as Kijineta.com, PR Times was…

prtimes_featuredimage
Image: PR Times’ blog “PRFREAK”

See the original story in Japanese.

Tokyo-based PR Times, a Japanese promotion agency focused on distributing press releases on behalf of client companies, announced that its IPO application to the Tokyo Stock Exchange has been approved on Friday. The company will be listed on the TSE Mothers Market on 26 March with plans to offer 300,000 shares for public subscription and to sell 114,000 shares in over-allotment options, for a total of 460,000 shares. The underwriting will be led by SBI Securities.

Its share price range will be released on 10 March with bookbuilding scheduled to start on 1 March and pricing on 14 March. According to the consolidated statement as of February 2015, they posted a revenue of 845 million Japanese yen ($7.5 million) and an ordinary loss of 92 million yen ($816,000). In the latest fiscal quarter, they posted a revenue of 840 million yen ($7.4 million) and an ordinary profit of 194 million yen ($1.7 million).

Led by Japanese promotion agency Vector (TSE:6058, holding a 85.6% stake), its major shareholders include GMCM Venture Capital Partners I Inc. (12.5%), the company’s CEO Takumi Yamaguchi (1.6%), and managing director Kensuke Yamada (0.3%).

Previously known as Kijineta.com, PR Times was launched in December of 2005 as a wholly-owned subsidiary of Vector. The company was rebranded to PR Times in 2007, followed by launch of press release distribution service as PR Times in April of the same year. They surpassed 10,000 companies as users in August 2015, then attained 5.9 million accumulated page views in October 2015.

Disclosure: PR Times is an investor in The Bridge.

Translated by Masaru Ikeda
Edited by “Tex” Pomeroy