Celsys

CELSYS, Inc. has formed a capital and business alliance since December 2021 with WEBTOON Entertainment Inc. WEBTOON Entertainment Inc., the global provider of services such as LINE Manga in Japan and NAVER WEBTOON in South Korea, was listed on NASDAQ on June 27, 2024. Together, the two companies are working on joint activities to increase the efficiency of content production, translation, distribution, and to bring new energy to the market at large.

The issuance of new shares through third-party allotment implemented at the time of the capital and business alliance was conducted by the subsidiary LINE Digital Frontier Corporation, on behalf of the overseas entity WEBTOON Entertainment Inc., in order to simplify the administrative procedures. LINE Digital Frontier Corporation is the formal shareholder.

See here for more information about the capital and business alliance with WEBTOON Entertainment Inc.
https://www.celsys.com/files/user/pdf/groupnews/ArtSpark_News_20211210.pdf

See here for details of capital and business alliance agreement and issuance of new shares by way of third-party allotment
https://www.celsys.com/files/user/pdf/ir/info/2021/info_2021-1210a.pdf

Currently, CELSYS, Inc. and WEBTOON Entertainment Inc. are promoting efforts to improve the efficiency of webtoon content production and translation using Clip Studio Paint, discussions in the field of AI, and the use of the content distribution platform solution “DC3”.

Through this business and capital alliance, we will continue to work on initiatives to improve the efficiency of content creation, translation, and distribution and revitalize the market.