2018.08.01 Submitting Application to FINMA for ICO
To whom it may concern
Company Globalway, Inc.
Representative CEO Masato Kakamu
Security Code 3936.T
Contact CFO Hironori Yoshino
Notification Regarding Completion of Establishing Swiss Subsidiary and
Submitting Application to FINMA for ICO
Notification Regarding Completion of Consolidated Financial Statements
(Update on Previously Disclosed Transactions)
As disclosed in “Notification Regarding Establishment of Swiss Subsidiary and Submitting Application to FINMA for ICO, and Adoption of Consolidated Financial Statements” on 13 April 2017, Globalway, Inc. (hereinafter the “Company”) has engaged in establishing Swiss subsidiary and submitting application for ICO. The Company hereby announces establishing Swiss subsidiary and applying to FINMA for ICO as of today since practical procedures have been completed. In addition, Company has engaged in preparations for consolidating financial statement as of today since practical procedures have been completed.
Submitted Application to FINMA 23 July 2018
Approval by FINMA Estimated Sep ~ Oct 2018
*Regarding approval by FINMA it might take time to review the application. Therefore, we expect to receive approval from FINMA approximately in September or October 2018. However, date of receiving approval may vary depending on the actual progress of review.
TimeTicket GmbH, a subsidiary of the Globalway, Inc., is a Swiss corporation. In order to launch ICO in Switzerland, it is necessary to obtain approval by FINMA in compliance with the law applicable to the company in the country.
Regarding ICO, its contents are not available to make official announcement yet, however we are discussing details and will promptly disclose contents of the ICO after receiving approval from FINMA.
As for the impact of ICO on the Company’s business results, it is not obvious because details have not been confirmed at this time, yet we will promptly disclose contents as soon as it is confirmed.
Unless otherwise specified, this English-language document is prepared solely for the convenience of readers outside Japan. If there is any inconsistency between the English-language document and the Japanese-language document, the Japanese-language document will prevail.