Kudan announces the establishment of new subsidiary company in USA
〜New company to allow for the expansion of operations in the North American market and the cultivation and development of Kudan ecosystem〜
Kudan Inc. (headquarters in Shibuya-ku, Tokyo; Managing Director Tomo Ohno) is pleased to announce that at its Board of Directors meeting held on December 17th, 2019, it has decided to establish a new subsidiary company based in the United States of America in order to facilitate further expansion of Kudan’s business operations in the North American market.
【Purpose of New Subsidiary】
The decision by the Board of Directors to establish a subsidiary for Kudan in the United States of America is driven by the desire to create a new research and development hub for Kudan’s work on artificial perception, a branch of “deep tech” that is particularly focused on the elements of localization and mapping. Additionally, the new subsidiary is intended to provide a base for business development and sales targeting the North American market that will allow Kudan to establish and cultivate an ecosystem fostering cooperative relationships with other enterprises based in Silicon Valley, home to many of the world’s leading advanced technology companies, including innovation centers of large corporations, semiconductor producers, and companies involved in the fields of autonomous driving, robotics, AR and VR.
This subsidiary will allow for the simultaneous expansion of the company’s geographical sales regions and the field of application of its products, thereby promoting and strengthening the many social implementations of Kudan’s technology.
【Overview of New Subsidiary】
Company name ：Kudan USA, LLC
Location ：Delaware, United States of America（Business base in California）
Representative ：Taro Murai
Business Overview：Provision of artificial perception technology software licenses and related product solutions
Capital ：200,000 USD
Establishment Date：January 2020 (scheduled)
Main shareholder ：Kudan Inc. (100%)
Relationship to Kudan：Full subsidiary of Kudan Inc.
We believe that the establishment of this new subsidiary will only have a minor effect on Kudan’s consolidated financial results for the current period.
About Kudan Inc.
Kudan (Tokyo Stock Exchange securities code: 4425) is a deep tech research and development company specializing in algorithms controlling artificial perception (AP), a technology which provides machines (computers and robots) with the equivalent of human “eyes.” As a complement to artificial intelligence (AI), AP functions as a deep tech which allows machines to develop autonomy. Currently, Kudan is using its high-level technical innovation to explore business areas based on its own milestone models established for deep tech which provide wide-ranging impact on several major industrial fields. In addition to the independently-developed AP technology it has produced, Kudan is also conducting R&D in the fields of machine perception, deep perception and neural perception networks, with an eye to the integration of its technology with artificial intelligence (AI) and the internet of things (IoT).
For more information, please refer to Kudan’s website at https://www.kudan.io/.
Name: Kudan Inc.
Securities code: 4425
Representative: Managing Director Tomo Ohno