PIHN news
Polaris International Holdings, Inc. - Retains Japanese Judicial Scrivener To Register Its Branch In Japan
Press Release
Source: Polaris International Holdings, Inc.
On 7:30 am EDT, Tuesday October 20, 2009
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HUNTINGTON BEACH, Calif.--(BUSINESS WIRE)--Polaris International Holdings, Inc. (PINK SHEETS: PIHN - News), a global IT outsourcing services company with a U.S.-Japan dual market base, announced today that the Company has retained a Japanese judicial scrivener to register its branch office in Nakano District in Tokyo, Japan. The Company’s branch office will administrate operations of the IR services business of Staff IS and Polaris Technologies. The acquisition of these two are moving forward as planned and are to be completed before November 1, 2009. The branch office will be located in the facilities of Staff IS.
IT services business of Staff IS Co. and Polaris Technologies have a outstanding reputation for their competence and professionals in Japan and a handsome group of clients from Global Fortune 100 companies such as Nike Japan, GE Real Estate Corporation and HVB Capital Asia Limited Tokyo Branch, Commerzbank Tokyo Branch, LPL Japan Securities, BBH Investment Services Japan. They are scheduled to begin operating as a subsidiary of POLARIS on November 1, 2009. Polaris Technologies’ IT Services will be a division of Staff IS.
Kuni Misawa, President and CEO of Polaris International Holdings, Inc. said, “I am delighted to inform our shareholders that these acquisitions are being completed as scheduled. We believe that our branch office in Japan will bring expanded growth opportunities as we move out of 2009 and into the first quarter 2010. There are plans to incorporate Polaris International Holdings Japan in 2010 as apart of new growth strategy for Japan and other Asian markets.”
POLARIS, which currently employs 4 people, will gain 16 new employees when these acquisition of are completed.
We have now activated a “Registration for Updates” module on our website. Please visit www.polaris-int.com and register to receive periodic updates.
About Staff IS’ Network Infrastructure:
Staff IS Co., Ltd.’s Network Infrastructure Business Division was established in 2001. Staff IS’ Network Infrastructure’s primary business is the installation of integrated wiring systems. Their business includes ‘Move and Change’. ‘Move and Change’ is IT equipment relocation services that usually result from organizational changes that occur in the office environment.
For its twelve months ended June 30, 2009, Staff IS’ Network Infrastructure operation had sales of approx. $3,115,789 and earnings of approx. $273,684 EBITDA for June 30, 2009. www.staffis.co.jp
About Polaris Technologies, Inc.:
Polaris Technology, Inc. was established in 2005 and is an Application Service Provider company that provides IT services from business framework design to implementation and ongoing support. Polaris Technologies manages and distributes software-based services and solutions to clients across a wide area network from a central data center. As part of their service offerings, Polaris Technologies provides business analyst consulting for valuating cloud computing models and solutions to help companies reach not only their budgetary goals but also time to market for customer services and offerings.
About Polaris International Holdings, Inc.:
Polaris International Holdings, Inc., a Delaware corporation with offices in Huntington Beach and Los Angeles, California and in Tokyo, Japan is in the business of supplying services for Network Infrastructure, ASP and Cloud Computing Solutions. Its management team is composed of seasoned international business professionals with over 60 years of expertise in technology, media, entertainment and investment industries. POLARIS with both a U.S. and Japan market base is well positioned for the global evolution occurring in IT services and is meeting this evolution with its progressive collection of 'Cloud Solutions and Services' for its corporate Fortune 100 clients. POLARIS’ near term plan is to build out its ‘Global IT Services’ through acquisitions and/or strategic partnerships. The Company is currently engaged in due diligence with several international businesses that will significantly expand its territory from Japan to include the other rapidly growing Asian markets and North American markets. www.polaris-int.com
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially form the expected results.
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