BIMobject completes establishment of Japanese subsidiary BIMobject Japan, Inc.
On the 10th of October 2017, BIMobject announced that the corporation had signed an agreement with Nohara Holdings, Inc. (”Nohara”) to establish a Japanese subsidiary: BIMobject Japan, Inc. Today, BIMobject announces that the establishment of the Japanese subsidiary has been completed with BIMobject owning 51% of its shares and Nohara owning 49% of its shares. BIMobject has also invoiced the first guaranteed minimum licence fee for BIMobject technology and platform in the amount of 1 million USD to be paid annually by the subsidiary during the first three years of operation.
“We’re very proud to establish a subsidiary in Japan. The nation’s market is large and interesting, with the construction industry facing a digitalisation revolution. Since we announced our plans to establish a Japanese subsidiary back in October, we’ve been working hard to get all the formalities in place, which has finally been achieved. I look forward to what lies ahead and to realising the potential we see in the Japanese market”, says Stefan Larsson, CEO and founder of BIMobject.