For Immediate Release
30 January 2001
(Hong Kong - 30 January 2001) Founder Holdings Limited ( "Founder Holdings", SEHK: 418) today announces that Yahoo! JAPAN has formally injected 60 million Japanese yen in PowerPrint.com Inc. ( "PowerPrint.com" ), subsidiary of Founder Holdings's Japanese business arm, Founder International Inc. ( "Founder International", formerly known as "Founder Inc."). Through the said investment, Yahoo! JAPAN acquired 15% equity interest in PowerPrint.com.
Established by Founder International and Konica Business Machines Inc. ( "Konica" ) in August 2000, PowerPrint.com is engaged in both Internet and electronic publishing system ( "EPS" ) related services, including on-line storage service as well as Internet processing tools for digital photo/graphics, on-line ordering and off-line delivery services for greeting card/name card/ letterhead printing, etc.
PowerPrint.com, with the advantages of Konica's world-leading photographic/photocopying technologies as well as Founder International's unique EPS technologies, has been equipped with the most advanced printing facilities to provide timely, high quality and highly diversified on-line printing services.
Despite the fact that PowerPrint.com has not been in existence for long, it has achieved vast consumer recognition. For the printing of greeting cards alone, orders have been rushing in through Internet from 1 November 2000 till 20 December 2000, which add up to a total of 60,000 greeting cards, generating a turnover of six million Japanese yen. President of PowerPrint.com, Mr Guan Xiang-hong, said that he expected the total turnover in 2001 would reach 1.5 billion Japanese yen.
Operated as a separate entity from Yahoo! Inc., Yahoo! JAPAN is Japan's biggest on-line information portal, with hits closing up to 142 million each day. Investing in PowerPoint.com, according to Yahoo! JAPAN's spokesperson, is indeed in line with Yahoo! JAPAN's general investment policy that new value-added services should be provided to its users through the investment in question. In the field of Internet related services, he said, Yahoo! JAPAN expected to form a closer strategic partnership with PowerPrint.com and Founder International, so that together they provide more and more high-quality and value-added services to businesses and communities alike.
According to Mr Guan, President of PowerPrint.com, the investment in PowerPrint.com by Yahoo! JAPAN this time was far from large but with great significance. On one hand, it is the third strategic partnership that Founder International has established with world renowned enterprises, the previous two being respectively with SoftBank Group and Mitsubishi Corporation. Following and through the said partnerships, it is expected that Founder International will achieve long-term development in the Internet domain. On the other hand, PowerPrint.com not only gets financial prop-up from Yahoo! JAPAN, but also is registered on Yahoo! JAPAN. With Yahoo! JAPAN's being so well positioned as Japan's biggest on-line information portal, PowerPrint.com looks for quick expansion in its customer base as well as its reputation, which undoubtedly will have favorable impact on PowerPrint.com's business development in the long run.
Enquiries:
Ms Cindy Cheung, Public Relations Officer
Founder Holdings Limited
(Tel: 852-26114124; E-mail: cindy@founder.com.hk)
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