July 28, 2004
Dear Sir or Madam,
Address: 26-1 Sakuragaoka-cho , Shibuya-ku, Tokyo
Company name: Global Media Online Inc.
Company representative: Masatoshi Kumagai , Representative Director and President
Contact person: Masashi Yasuda , Executive Director
TEL: 03-5456-2555 (switchboard)
GMO Concludes Basic Agreement with MTI Ltd. to Acquire Shares of
Card Commerce Service Co., Ltd.
Global Media Online INC. (“GMO”) and MTI Ltd., agreed at a meeting of the directors
of the two companies held on July 28, 2004 to allow GMO to acquire the 2,839 shares
(65.7%) of Card Commerce Service Co., Ltd. held by CCS Holding, a subsidiary of MTI
Ltd. A basic agreement has been concluded.
Card Commerce Service Co., Ltd. is the largest company in the online credit card
payment processing service market.
In the GMO Group, Payment-One Inc. plays a strategically important role as a
provider of online credit card payment processing services.
Thus, the welcoming of Card Commerce Service Co., Ltd. into the GMO Group will
further strengthen the Group’s online credit card payment processing service business,
creating—together with Payment-One—the largest online credit card payment
processing service business in Japan, serving over 5,500 online businesses nationwide.
With the corporate strategy of “Becoming Japan’s Internet Division,” the GMO Group,
of which GMO is the core, has emerged as Japan’s only corporate group capable of
providing the various services needed by Internet businesses, including access services,
domain services, server rental, online credit card processing, and Internet advertising
media, on a one-stop basis.
With the spread of credit card payment as a means of paying for online orders, the
credit card payment processing service offered by Payment-One is a strategically
important part of the GMO Group, providing a highly reliable and convenient service.
On the other hand, Card Commerce Service Co.,