April 2, 2001
Fusion Inaugurates Service, Increases Capitalization
After a year of preparation since its founding in March 2000, Fusion Communications
Corporation inaugurated telephone and Internet connection services on April 1. Fusion is a new-generation
provider of telecom services based primarily on IP technology.
Customers who have applied to use Fusion's telephone services may avail themselves
of the company's long-distance and international services by prefixing their calls with Fusion's 0038 access
code. (Beginning on May 1, when the MYLINE Carrier Selection Service is inaugurated, telecom users who have
designated Fusion as their primary carrier need not dial the 0038.) These customers may also use our Internet
connection service.
On April 1, Fusion's employees held a service inauguration ceremony at company headquarters.
At the ceremony all employees renewed their hope to have even more customers sign up for Fusion's services.
In conjunction with the inauguration of services, Fusion has initiated a 7-billion
yen capital increase allocated to designated third parties as a means of bolstering the company's financial
base for future business development. In addition to existing shareholders (other than NTT Data), a total
of 27 new shareholders--including such business partners as Anritsu Corporation, such financial institutions
as Nikko Principal Investments Japan, and venture capital concerns--participated in the placement. The private
placement follows an original capitalization of 100 million yen at the company's founding in March 2000 and
a capital increase of 1.6 billion yen last December.
Details of the Placement
Placement amount |
7.0 billion yen |
|
Post-placement capital |
5.1 billion yen
(prior 1.6 billion yen + 3.5 billion yen in new funds) |
|
Post-placement capital reserve |
3.5 billion yen
(entirely in new funds) |
|
|
|
|
Shareholder breakdown |
Nissho Electronics Corporation |
41.77% |
|
The Furukawa Electric Co., Ltd. |
15.67% |
|
ITX Corporation |
12.67% |
|
Nissho Iwai Corporation |
5.67% |
|
Anritsu Corporation |
3.33% |
|
Nikko Principal Investments Japan Ltd. |
3.33% |
|
Others |
17.56% |
|
|