Today, BIMobject AB (BIMobject) and Nohara Holdings, Inc. (Nohara) signed an agreement to establish a co-owned subsidiary: BIMobject Japan. The subsidiary will be given exclusive marketing rights for BIMobject products and services on the Japanese market. The agreement also entails that BIMobject will receive annual licence proceeds of a guaranteed minimum amount of 1 million USD per year during the subsidiary's first three years of operation.
BIMobject and Nohara today entered into a long-term agreement to establish a co-owned subsidiary, BIMobject Japan, with the exclusive right to market and supply BIMobject products and services on the Japanese market. The Japanese subsidiary, which will start operating during the last quarter of 2017, will be controlled by BIMobject to 51 per cent and to 49 per cent by Nohara. Nohara will make a 4.9 million USD cash contribution, while BIMobject will contribute its technology and the exclusive marketing and supply rights for its products and services. Through an external valuation, Nohara values the technology and exclusive rights at 5.1 million USD. The Shareholders' Agreement grants BIMobject 51 per cent of the votes and 51 per cent of future dividends, or of any future liquidation or sales proceeds.
Furthermore, the parties have agreed that the subsidiary will pay BIMobject an annual licence fee for the use of its technology and platform. The licence fee is based on the subsidiary's gross sales, but will consist of a guaranteed minimum of 1 million USD per year for the first three years of operation. The first licence proceeds are estimated to be made during Q1 of 2018.
"This agreement confirms once again that our offerings are global and attractive. The Japanese market has enormous potential, and Nohara's well-established and comprehensive business gives access to large numbers of users and manufacturers. Japan is the third largest economy in the world and one of the most important markets in the region. That makes this cooperation another big step towards significant expansion in the region. At the same time, we're creating great licence revenue. I'm extremely proud to carry out this cooperation", says Stefan Larsson, CEO and founder of BIMobject.
"We are extremely excited and thrilled to start the BIMobject business in Japan, as the local property and construction industry just started to realize the large benefit of using BIM technologies. What Japanese BIM users can do with BIMobject solutions will significantly help to increase the productivity of the industry, which is also a large social mandate in Japan. Nohara Holdings will be strengthening its position as an enabler of digitalisation of the industry, adding BIMobject Japan to its current service menu, including BIM consulting services, software implementation services for quantity takeoff and an e-commerce web site focussing on construction materials, www.aunworks.jp", says Kosuke Nohara, Director of Nohara.
For more information, please contact:
Louise Otto - Press contact
Tel: +46 40 - 685 29 00
This information is information that BIMobject AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 18:00 CET on October 10th, 2017.
BIMobject® is a Swedish technology company with a global presence operating at the forefront of digitalising the building industry. BIMobject provides a cloud-based platform and powerful technology to make digital product information available for Building Information Modelling (BIM), allowing its use early in the building process for visualisation, specification, and analysis. The platform collects valuable data that streamlines the construction industry throughout the product lifecycle. More intelligent design and construction lead to better product selections, reduced waste, and more efficient logistics during the building process. At the same time, property management benefits from higher quality, improved use of energy, and lower operating costs.
Today, BIMobject operates in a number of markets and has a global growth strategy. The company's offerings include development, hosting, management, and publishing of digital versions of manufacturer products: BIM objects. Its customers are building and interior product manufacturers who market their products via the BIMobject® Cloud. The user base consists primarily of architects, designers, and engineers, who access the BIMobject® Cloud through CAD/BIM-applications, apps, and web services. The BIM objects are integrated into a detailed model of the building, which increases the chance that the real products will be selected for purchase.
BIMobject is a public company listed on Nasdaq Stockholm First North with the ticker symbol BIM.
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This is an English version of an original Swedish press release communicated by BIMobject AB. In case of interpretation issues or possible differences between the different versions, the Swedish version shall apply.
Nohara Holdings, Inc. is an enterprise with a history of over 400 years in Japan. The company proudly presents their strength of providing innovative products and solutions in each construction field. Nohara continuously works to evolve and enhance the living environment of people in the world, extending the company's trading and manufacturing business to Asian countries such as India, China, Indonesia, Singapore, and Vietnam. Making use of their functions as a trading company and constructor to offer diverse solutions, Nohara takes an integrated approach to help boost the value of their customers' buildings.
For the building materials business, Nohara coordinates the best mix of building materials for their customer from tens of thousands of building materials from 1,000 manufacturers. The company is selling building materials through their 26 sales offices to reach out to all construction companies nationwide.
For the construction business, Nohara is licensed and registered for 18 types of construction work and the integrated set of services that ranges from design, production, sales, and construction to maintenance. The company has had business with most of the major Japanese contractors for a long time because Nohara has aspired to the requested and sustainable quality.
With the celebration of the company's 70th anniversary this year, the new mission of Nohara is to start integrating existing values and assets to create new values for consumers of building assets through the integration and collaboration of people and community.