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A New Face for Sega
Sega
spins off a new network company
September 30, 1999
It
was announced today that Sega Enterprises would be spinning off a
network business based on the Dreamcast to an affiliate. The goal of
this new business would be to tap the fast growing market for
internet related services, including, possibly, online game playing,
electronic commerce, and online advertising. This announcement comes
two days after the announcement that leading Japanese brokerage
Nomura Securities Co Ltd would be offering an online stock trading
service via the Dreamcast starting this October (see that story,
available as a link below, for more information).
"The reorganized unit needs to become a specialized and
swift-moving company to respond to the rapidly changing network
society," revealed a statement today (we're going to assume the
statement came from Sega Enterprises, although the article from
Reuters wasn't exactly clear on the matter). The unit will be
seventy percent owned by CSK Corp and thirty percent owned by Sega
itself (this is somewhat odd, as CSK actually owns a part of Sega).
Currently, the company is capitalized at ten million yen.
-- Anoop Gantayat,
IGNDC
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