TOKYO, Mar 19 (Pulse News Wire) – SAKURA Internet Inc. (3778.T) announced changes in its management structure and adjustments to its business partnership agreement with Sumitomo Corp.
Following the sale of 4,622,300 shares of SAKURA Internet's stock by Sumitomo Corp., which now holds 4,622,300 shares representing a holding ratio of 11.9%, SAKURA Internet is no longer considered a jointly controlled entity under the equity method. As a result, two directors and one auditor appointed by Sumitomo Corp. have resigned their positions. In light of these developments, SAKURA Internet plans to refocus on accelerating growth in its rapidly expanding digital infrastructure sector while enhancing operational independence and agility.
The company stated that the impact on the current consolidated performance is expected to be minor. Additionally, the resignation of the aforementioned officers does not affect the statutory number of directors and auditors stipulated by law and the articles of incorporation. Going forward, SAKURA Internet remains committed to maintaining its overall business collaboration with Sumitomo Corp. while adapting to strategic shifts aimed at achieving significant growth.
Any further material developments will be disclosed promptly.
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