J:COM and Recruit Approve Stock Transfer Agreement

TOKYO, June 8: Recruit
Co., has concluded a stock transfer agreement on all shares of its wholly-owned
subsidiary, Recruit Visual Communications with Japanese MSO Jupiter Telecommunications
Co.

The
acquisition of RVC as a consolidated subsidiary marks another step in J:COM’s
goal towards creating a major source of revenue by strengthening its group
media advertising and merchandising sales. The company had created a new Media
Business Department in March, with the main objective of expanding advertising
income.

Recruit
established RVC, a video production and merchandizing sales solution division
in 1983. In recent years RVC has provided interactive merchandizing sales
solutions using information programs on its “Act On TV—entertainment and
lifestyle information for adults” broadcast via satellite and cable to more
than 2 million subscribed households, excluding J:COM group subscribers.
Recruit has approved the transfer to further add value to its business and broaden
its scope of operations.