Software publisher Ascii Corp said on Thursday it would allocate 5.5 million new shares to information service company CSK Corp and 3.3 million shares to gamemaker Sega Enterprises Ltd. Ascii said it would also allocate one million new shares to Isao Ohkawa, chairman of CSK and Sega, and 900,000 to two senior Ascii officials. An additional 100,000 would be allocated to the Industrial Bank of Japan Ltd.
The new shares would be issued in the middle of January at 870 per share, Ascii said. Payment would be made on January 16, it said. Ascii said it hopes to use the funds from the issue for new businesses, software development and redemption of convertible bonds. Ascii also said that Ohkawa would become a special adviser to the company.
CSK said in a statement that, in addition to the equity and personnel ties, CSK, Sega and Ascii would exchange advanced technologies to establish a solid business foundation for the CSK group in the multimedia area.