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Fujisan Magazine Service Co., Ltd. to Become Consolidated Subsidiary of the ngi group.

TOKYO -- The ngi group decided during its board of directors' meeting held today, October 24, 2007, to acquire the shares necessary to convert Fujisan Magazine Service Co., Ltd. (Representative: President Shinichiro Nishino, Headquarter: Shibuya, Tokyo) from an affiliate held under the equity accounting method to a consolidated subsidiary. The details of this change are listed below.

Details

Reason for the Share Acquisition

Fujisan Magazine Service (hereinfafter, "Fujisan") is Japan's first online bookshop providing access to various subscription magazines distributed as digital media over the Internet (http://www.fujisan.co.jp/).

And because we recognize this year as the "first year of the digital magazine age," we seek to promote the diffusion of this new digital magazine media through our new service called "Fujisan Digital," which converts paper magazines into digital media completely mirroring the contents of the paper media and was established in February 2007.

Fujisan currently provides customers with digital magazines from several publishing companies through its "Fujisan Digital" service. Also the Japan Electronic Publishing Association awarded us with their highly prestigious "Digital Infrastructure Award" for electronic publishing in July 2007.

Fujisan has been an integral part of our digital media business strategies as an affiliate held under the equity accounting method until now. However because of our outlook for the need to provide innovative services to capture new business opportunities in the digital magazine and media business, we have assigned an even higher priority to Fujisan as part of our Internet related business and our media and commerce business strategy. Therefore we have taken the decision to acquire additional shares in Fujisan and convert it into a consolidated subsidiary.
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ngi group, inc.

Akasaka Twin Tower 10F, Akasaka 2-17-22, Minato, Tokyo

Satoshi Koike, CEO

(Stock code: 2497, Tokyo Stock Exchange, Mothers)

Telephone: +81-3-5572-6200
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Publication:Business Wire
Date:Oct 30, 2007
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