Notice regarding capital and business alliance between CCC Group and CITIC Publishing Group

2017.05.11 Press Releases
Culture Convenience Club Co., Ltd. / CITIC Publishing Group Co., Ltd.

Culture Convenience Club Co., Ltd. (Head office: Shibuya-ku, Tokyo; President and CEO: Masuda Muneaki; hereinafter "CCC") Group and CITIC Publishing Group Co., Ltd. (Head office: Chaoyang District, Beijing, China; President and CEO: Wang Bin; hereinafter "CITIC Publishing"), a publishing subsidiary of the CITIC Group (Head office: Jingcheng Building, No. 6 Xinyuan South Road, Chaoyang District, Beijing, China; Chairman: Chang Zhenming; hereinafter "CITIC"), are pleased to announce that they have agreed to a capital and business alliance with the aim of invigorating cultural exchange between Japan and China.

Culture Entertainment Inc. (Head office: Shibuya-ku, Tokyo; President and CEO: Nakanishi Kazuo; hereinafter referred to as "C.E."), a CCC Group company engaged in entertainment businesses such as publishing, film, and music planning and production, and CITIC Publishing, are planning to establish a joint venture, CITIC Publishing Japan Co., Ltd., in July 2017, which will be responsible for book publishing and distribution, copyright licensing, and management businesses in both Japan and China. Furthermore, we will promote the attractions of both Japan and China by planning and managing travel and cultural events.

CCC Group and CITIC Publishing aim to stimulate cultural exchange and promote mutual understanding between China and Japan through entertainment works such as books, films, and music. In addition to establishing a joint venture in Japan, the two parties are also actively discussing the details of a partnership in mainland China. In addition to planning and selling cultural products in China, the CCC Group will also aim to collaborate on opening stores in mainland China, leveraging its strengths in the lifestyle proposal business cultivated through TSUTAYA and Tsutaya Bookstores.

Overview of Chushin Publishing Japan Co., Ltd.

(1) Company name: Chushin Publishing Japan Co., Ltd.
(2) Representative: Representative Director and President Wang Bin
(3) Head office location: Tokyo
(4) Capital: 150 million yen
(5) Establishment date: July 2017 (planned)
(6) Business Description: Publishing in both Chinese and Japanese markets, licensing and management of copyrighted works owned by both companies in both Chinese and Japanese markets, and planning and management of services related to cultural exchange (travel, cultural events, etc.)

[Reference materials]
Overview of CITIC Group http://group.citic/wps/portal
(1) Trade name: CITIC Group
(2) Representative: Chairman Chang Jinming
(3) Head office location: Jingcheng Tower, No. 6, Xinyuan South Road, Chaoyang District, Beijing, China
(4) Business Description: A large, comprehensive company primarily engaged in financial services and other services.

Overview of CITIC Publishing Group http://press.citic
(1) Trade name: CITIC Publishing Group Co., Ltd.
(2) Representative: Chairman Wang Bin
(3) Head office location: 10th floor, Fusheng Building, No. 4, Xindong Street, Chaoyang District, Beijing, China
(4) Business: Publishing, distribution, digital publishing, bookstore business

Materials related to this matter

Notice regarding capital and business alliance between CCC Group and CITIC Publishing Group

Inquiries regarding this matter
Culture Entertainment Co., Ltd.
Public Relations Officer: Noguchi
TEL: 03-6800-4583