Kudan Inc. (headquarters in Shibuya-ku, Tokyo; Managing Director Tomo Ohno, hereafter Kudan) announced the establishment of new subsidiaries in the September 13, 2019 press release “Kudan announces the establishment of new subsidiary companies in Hong Kong, China, and Japan”. However, for the following reasons, it has been decided to delay the establishment of these subsidiaries.
1. Reasons for the Delay of Establishing New Subsidiaries Kudan is at the forefront of the field of deep tech and artificial perception research and development. In order to augment these efforts as well as strengthen the technology’s applications for society, it planned to establish a base in the Asian market by forming local subsidiary companies in Mainland China and Hong Kong. Furthermore, a new subsidiary was being prepared in Japan in order to create products, solutions, and other projects that are based on Kudan’s technology and expand upon its partnerships in various related fields.
However, considering the current political state in Hong Kong as well as the spread of the novel coronavirus, and as a result of reconsidering business development strategies for the Asian market, it has been decided to delay the establishment of new subsidiaries in Hong Kong and Mainland China.
Additionally, this has led to the reevaluation of the organizational structure and the arrangement of human resources in the Asian region, and as such, the establishment of the new subsidiary in Japan will be delayed as well. However, product and solution development will continue in Kudan, and there will be no effect to business and development endeavors.
2. Future Outlook In the future, when the situation in Asia has stabilized, and decisions are made on business development strategies and the timetable for new subsidiaries, an announcement will promptly be made.
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