February 14, 2020
Notice regarding Establishment of Austrian Subsidiary
We are pleased to announce that Glory Global Solutions (International) Ltd., our subsidiary in U.K., has established its own subsidiary in Austria, through which it has commenced direct sales and maintenance of GLORY products.
1. Purpose of establishment
We have been promoting the 2020 Medium-Term Management Plan as the first step to realize the Long-Term Vision 2028. Under the Plan, we are actively investing management resources toward further development of the overseas business, which we position as an important growth strategy. Until now, we have been providing products and services in Austria through local distributors. We have established the local subsidiary as a base for direct sales and maintenance in the country to expand our retail business that has potential for further growth.
2. Outline of established company
|(1) Company Name||Glory Global Solutions (Austria) GmbH|
|(2) Location||Zaunergasse 4-6, 1030 Vienna, Austria|
|(3) Representative||Michael Bauer, Country Manager Austria|
|(4) Business Lineup||Sales and maintenance of GLORY products in Austria|
|(5) Paid-in capital||€ 35,000|
|(6) Shareholder composition||Glory Global Solutions (International) Ltd. 100%|
The date of establishment: 10th January, 2020
4. Business Outlook
The effect of the establishment to the current consolidated business of GLORY is expected to be minimal.
About GLORY LTD.
GLORY LTD., headquartered in Himeji, Japan, is a pioneer in the development and manufacture of cash handling machines and systems. GLORY provides a variety of products such as cash handling machines, cash management systems, vending machines, automatic service equipment, and cash management solutions that are built on its leading-edge recognition/identification and mechatronics technology. Committed to meet society's wide-ranging needs, GLORY serves the financial, retail, vending machine, amusement and gaming industries in over 100 countries around the world. GLORY employs approximately 9,000 people worldwide. For more information about GLORY, please visit GLORY's group website at https://corporate.glory-global.com/.
- GLORY LTD.
- Corporate Communications Dept.
Management Strategy Headquarters
Information in this document is current on the date of the announcement and subject to change without prior notice.