Form F-1 As filed with the Securities and Exchange Commission on June 10, 2016 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 LINE Kabushiki Kaisha (Exact name of Registrant as specified in its charter) LINE Corporation (Translation of Registrants name into English) Japan 7370 Not Applicable (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) Shibuya Hikarie, 27 th Floor 21-1 Shibuya 2-chome Shibuya-ku, Tokyo 150-8510, Japan +81-3-5155-1008 (Address, including zip code, and telephone number, including area code, of Registrants principal executive offices) LINE Euro-Americas Corporation 5750 Wilshire Boulevard #640 Los Angeles, CA 90036 +1-323-591-0380 (Name, address, including zip code, and telephone number, including area code, of agent for service) Copies to: Jinduk Han, Esq. Cleary Gottlieb Steen & Hamilton LLP 19F Ferrum Tower 19 Eulji-ro 5-gil Jung-gu, Seoul 04539, Korea +82-2-6353-8020 Craig B. Cleary Gottlieb Steen & Hamilton LLP One Liberty Plaza New York, NY 10006 +1-212-225-2000 Alan Cannon, Esq.
Aug 16, 2011 - VC. 2011 Wiley Periodicals, Inc. J Biomed Mater Res Part A: 99A: 166–172, 2011. Plasma was then divided into blank control, Ti alloy. Activation of the extrinsic pathway and the eventual forma. Li Z, Gu X, Lou S, Zheng Y. The development of binary Mg-Ca. Jung-gu, Seoul 04539, Korea. [INTENTIONALLY LEFT BLANK]. We believe that the most rewarding and lasting forms of expression are those. History makes it difficult to effectively assess our future prospects or forecast. As a limited partner of a private equity venture capital fund in which we have invested,.
David Sneider, Esq. Simpson Thacher & Bartlett LLP Ark Hills Sengokuyama Mori Tower, 41 st Floor 9-10, Roppongi 1-chome Minato-ku, Tokyo 106-0032 Japan +81-3-5562-6200 Youngjin Sohn, Esq. Simpson Thacher & Bartlett LLP 25 th Floor, West Tower Mirae Asset Center 1 Building 26 Eulji-ro 5-gil Jung-gu, Seoul 04539, Korea +82-2-6030-3800 Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this registration statement. Per ADS Total Per Share Total Public offering price $ $ ¥ ¥ Underwriting discounts and commissions (1) $ $ ¥ ¥ Proceeds, before expenses, to us $ $ ¥ ¥ (1) For a description of compensation payable to the underwriters, see Underwriting. The figures in the U.S. Dollar Total column above assume that all shares in the global offering are sold in the form of ADSs, while those in the Japanese yen Total column assume that no shares in the global offering are sold in the form of ADSs. Neither the U.S. Securities and Exchange Commission (the SEC) nor any state securities commission or any other regulatory body has approved or disapproved of these securities or determined if this prospectus is truthful or complete.
Any representation to the contrary is a criminal offense. The underwriters expect to deliver shares of our common stock to purchasers in Tokyo through the central clearing system in Japan, known as the Japan Securities Depository Center, Inc. (JASDEC), on or around July, 2016, Tokyo time.
The underwriters expect to deliver the ADSs to purchasers in New York through the facilities of The Depository Trust Company on or around July, 2016, New York time. Joint Global Coordinators Morgan Stanley Nomura Goldman Sachs Japan Co., Ltd. Morgan Joint Lead Managers and Bookrunners Morgan Stanley Goldman, Sachs & Co. Morgan Nomura The date of this prospectus is, 2016 INTENTIONALLY LEFT BLANK Table of Contents 1 18 19 50 52 53 54 55 56 58 59 64 69 119 149 152 161 162 164 174 183 185 188 195 206 207 208 209 209 209 F-1 You should rely only on the information contained in this prospectus or in any related free writing prospectus. We have not authorized anyone to provide you with information different from that contained in this prospectus or in any related free writing prospectus. We are offering to sell, and seeking offers to buy, shares of our common stock and ADSs only in jurisdictions where such offers and sales are permitted. The information contained in this prospectus is current only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of shares of our common stock or ADSs.
Until, 2016 (25 days after the date of this prospectus), all dealers that effect transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to the dealers obligation to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions. Each prospective purchaser who places an order for shares or ADSs offered in the international offering consents to the disclosure by the underwriters to us of the prospective purchasers identity, the details of such order and the actual amount purchased, if any. PROSPECTUS SUMMARY Our Mission and Vision Our mission is Closing the Distance by bringing people closer to each other as well as to a wide variety of information and services.
Our vision is to become the smart portal through which users can access the people, information, services, companies and brands that they choose, from anywhere they are and anytime they need to. Overview We are a leading global platform for mobile messaging and communication services, content distribution and advertising. Our mobile messaging application, which is the foundation of our LINE platform and operates on all major mobile operating systems, enables our users to communicate through free instant messaging and voice and video calls and serves as a smart portal to our other applications and services. We make communication more enriching and expressive. We are a pioneer in the creation and design of Stickers, our larger and more expressive version of emoticons. Users can express their emotions or actions by sending a single Sticker instead of a thread of plain text.
We believe that Stickers have made communication both more convenient and more enriching. Our users in aggregate sent an average of 389 million Stickers per day in March 2016. Our user engagement is driven by such communication being coupled with activities that are an indispensable part of users daily lives. LINE has evolved into an extensive platform that provides not only the ability to communicate but also access to a wide range of localized entertainment content and lifestyle services, such as games, video, music, camera and news applications through our content platform as well as O2O services through our life platform, offering our users richer experiences.
With an increasing amount of activity on the internet being conducted through mobile applications, we believe that LINE provides a fast, versatile and user-friendly platform for the discovery of content and services in the mobile era. Our broad array of mobile services, combined with our large and highly engaged user base, gives us unique opportunities to offer greater personalization in terms of the service and content offerings by introducing a range of application settings. We believe that our user base provides attractive marketing opportunities for our advertisers. We provide a variety of targeted and interactive marketing solutions that enable advertisers to promote their brands and amplify their visibility and reach. We offer a wide variety of messenger ads or user-initiated advertising solutions that are offered through the LINE messaging application, such as Official Accounts, Sponsored Stickers and LINE Point Ads, allowing advertisers to direct their efforts and communication in a more targeted manner.
We also offer impression-based performance ads such as Timeline Ads and other advertisements that utilize our various communication and content offerings, allowing advertisers to effectively reach a larger number of LINE users. Our performance ads have become our fastest growing advertisement products. We generate revenues in a variety of ways and from various participants active on the LINE platform. Our revenues are primarily generated from games, Stickers and advertising services on the LINE platform, as well as from advertising on our web portals.
We generated revenues of ¥39,586 million in 2013, ¥86,366 million in 2014, ¥120,406 million in 2015 and ¥33,456 million in the first three months of 2016. For the two years ended March 31, 2016, according to App Annie, LINE ranked as the worlds largest mobile publisher based on non-game gross revenue from iOS App Store and Google Play, combined.
Our User Base Since its launch in Japan in June 2011, our LINE messaging service has attracted users from around the world. Today, we believe LINE is the leading mobile messaging application in Japan, Taiwan and Thailand in terms of numbers of users, and we have gained substantial numbers of users in other parts of Asia, including Indonesia, Hong Kong, Singapore, Malaysia and Myanmar.
In recent quarters, we focused our marketing efforts on our key countries as a part of our increased emphasis on monetization in markets where we have achieved leading market positions, which has led to an increase in our MAUs in our four key countries of Japan, Taiwan, Thailand and Indonesia as well as overall MAUs. We plan to continue to focus on areas in which we enjoy competitive advantages and to allocate resources effectively. According to App Annie, for the three months ended March 31, 2016, our LINE messaging application was the largest mobile application in Japan, Taiwan and Thailand in terms of MAUs both on iOS App Store and on Google Play, and the second and third largest mobile application in Indonesia on iOS App Store and Google Play, respectively. In September 2015 our LINE messaging application had the largest share of the total time spent on smartphones in Japan, accounting for 10.4% of the total time spent on all mobile phone applications during the month, according to data released by The Nielsen Company (Nielsen) in November 2015.
Source: Nielsen Mobile NetView, Sep. 2015 Our Value Proposition for Our Users Communicate with people you know in real life. We provide free mobile communication tools that allow our users to connect with their friends, family and others that they care about in a private and intimate way.
Choose the way you communicate. Our users can send instant messages to, or chat with, a friend while watching TV, call their colleagues while traveling on business, or enjoy video calls with their family members who are residing overseas. Our Timeline provides users with open access to, and the ability to share, a broad range of content with other users, and our low-cost voice over internet protocol (VoIP) service allows users to place calls to mobile and fixed phone lines. Know that you have been heard. Our messaging tool provides the sender with confirmation whether their message has been read, and recipients are notified and reminded of unread messages specifically directed to them. Be creative and expressive. We continue to be a pioneer and leader in the creation and design of Stickers. Users are able to colorfully express their emotions in the form of a single Sticker, which depicts LINE - developed characters or third-party characters or celebrities.
Users can also design and distribute their own Stickers through our Creators Market service. Discover attractive content. Our content platform introduces users to a host of highly appealing, localized content to enrich their daily lives, including games, news, music, video and more. The LINE characters we have created, such as Brown the Bear and Cony the Rabbit, are widely recognized within Japan, Taiwan, Thailand and Korea and are receiving increasing recognition in other regions of the world. In particular, our LINE Friends characters have recently become popular in China and Hong Kong, where we have established retail stores to leverage their popularity. Share the fun. Users on our platform can share mobile games and other applications that they enjoy with their friends directly through a chat or by posting on their Timelines.
For example, our users can see how their scores compare against their friends scores on their favorite games and send each other in-game purchased virtual items or pictures taken and decorated with Stickers on our camera application. Our LINE Music service enables users to share songs with their friends or add songs to their Timelines, bringing interaction to an otherwise isolated activity. Enjoy one-stop access. Users are able to satisfy many of their mobile needs through our life platform, which provides seamless access and navigation across a wide range of applications and services that we provide.
Through our smart portal, users in Japan, for example, are able to book taxis, make restaurant reservations4. Check job postings, get tailored news updates, purchase and read comic books and make individual and group calls. We believe that utilization of the LINE messaging application as a smart portal to the applications and services we offer on our life platform serves as an easy and convenient one-stop navigation path for mobile users. Our Value Proposition for Our Advertisers and Business Partners Large user base and high level of engagement. Our platform provides a powerful medium through which advertisers can reach our large user base, thereby amplifying their visibility. By integrating our advertising products with our messaging application, we allow advertisers to benefit from the high level of user engagement driven by communication, which has become indispensable to many peoples daily lives. Impactful and targeted reach. We offer advertisers a variety of ways to connect with our users. We offer opt-in products such as Official Accounts, Sponsored Stickers, LINE@ and LINE Point Ads, which we call messenger ads, that allow advertisers to engage only those users who have voluntarily initiated such engagement, such as by adding an advertiser as a LINE friend, allowing advertisers to direct their efforts in a more targeted manner.
In addition to these user-initiated advertising products, we offer targeted native mobile advertising across our content products such as Timeline, LINE News and LINE Live, which we call performance ads and which do not require users to opt in, allowing advertisers to effectively reach a larger number of LINE users. Business solutions. The LINE platform provides business partners with solutions beyond simply an advertising medium. For example, Business Connect allows businesses to develop customized applications that can be offered on the LINE platform, and LINE@ enables small- and medium-sized enterprises (SMEs) to communicate with customers through LINE chat messages.
We focus on developing new opportunities for our business partners to leverage the LINE platform and our user base. Our Value Proposition for Our Platform Partners Real relationship-based social distribution. Content providers on our platform, such as application developers, not only are able to utilize our social distribution platform but also benefit from our real relationship-based user base to maximize their distribution efforts. We believe that real relationship-based sharing of experiences enhances the legitimacy of user recommendations and amplifies the benefits of network effects. Direct sales platform. Our content platform functions as a direct publishing platform for various content, including games, video, music and online comic books, which has contributed to LINE becoming a leading game publisher, as well as non-games content publisher, on iOS App Store and Google Play. Proven distribution channel of scale. We provide content providers with access to our large and highly engaged global user base and the benefits of our continued expansion. For example, we distribute and maintain a line-up of quality games that are enjoyed by millions of users globally.
As of March 31, 2016, our games exceeded a combined 654 million downloads, including 14 games that exceeded 10 million downloads each. Online to Offline Integration. Our life platform provides traditionally offline service providers, such as taxi booking services, beauty salons, travel agencies and restaurants, the ability to appeal to more LINE users by offering aspects of their services online, increasing user engagement and convenience.
Our Market Opportunity Mobile Messaging and Social Networking Opportunity Mobile messaging and social networking are some of the most frequent activities of mobile internet users as they have emerged as a new means of connecting people online. For the two years ended March 31, 2016, according to App Annie, mobile messaging applications constituted four of the top ten applications excluding games based on the number of downloads from iOS App Store and Google Play, combined; two of the remaining six were social networking applications. Advertising Market Opportunity Digital advertising accounted for 20.1% of the total advertising market in Japan in 2015, which was lower than the corresponding percentages in each of the United States, China, the United Kingdom and Germany, according to International Data Corporation (IDC). Source: IDC From 2015 to 2020, the digital advertising markets in Taiwan, Thailand and Indonesia are projected to grow from $0.5 billion to $0.7 billion, from $0.3 billion to $0.5 billion and from $0.4 billion to $1.0 billion, respectively, according to IDC.
Mobile messaging and social networking platforms enable advertisers to execute highly targeted marketing initiatives and therefore are well-positioned to capture a greater share of advertising spending. The global mobile advertising market is projected to increase from $47.6 billion in 2015 to $173.6 billion in 2020, and the Asian mobile advertising market is projected to increase from $13.5 billion in 2015 to $55.6 billion in 2020 with the Japanese mobile advertising market projected to increase from $2.8 billion in 2015 to $5.3 billion in 2020, according to data released by IDC in April 2016. Source: IDC 6.
Content Market Opportunity We believe that people are increasingly using mobile content to enrich their interpersonal relationships and social experiences. Consumer spending on paid content on mobile devices globally is projected to increase from $75.6 billion in 2015 to $256.0 billion in 2020, according to data released by IDC in April 2016. Our business benefits from the size and growth of the content market in our four key countries of Japan, Taiwan, Thailand and Indonesia. According to App Annie, Japan was the worlds largest market in terms of the amount of revenue on iOS App Store and Google Play in 2015, combined. According to IDC, from 2015 to 2020, consumer spending on paid content on mobile devices is expected to grow at a compound annual growth rate (CAGR) of 3.3%, 16.4% and 29.9%, from $5.2 billion to $6.1 billion, from $2.6 billion to $5.5 billion and from $2.7 billion to $10.0 billion in Taiwan, Thailand and Indonesia, respectively. Our Strategies Continue to Grow Our User Base and Enhance User Engagement We aim to continue to grow our user base with a strategic focus on Asia and markets where we believe we are uniquely positioned to attract new smartphone users and build a leading position. We aim to penetrate targeted markets by introducing localized services and products that appeal to the cultural tastes and differentiated demands of each region.
In our largest market of Japan, we plan to commence operations as a Mobile Virtual Network Operator (MVNO) in order to promote the use of smartphones in Japan and further increase our potential user base. We strive to offer services and products that users find useful, reliable and entertaining, in order to enrich the user experience and encourage engagement. We believe that the social and interactive features of our services and products are integral to achieving high levels of user engagement, and continue to develop services and products designed to allow users a broad range of expression and opportunities for interaction. We also continue to introduce a wide range of localized content and services that further encourage users to integrate LINE into their daily lives.
For example, LINE Live, a real-time video streaming service, and LINE TV, an on-demand video service, provide information and entertainment catered to each region, and LINE Pay and LINE Points, our mobile payment service and rewards programs, enable users to further converge their online and offline activities using our platform. Expand and Improve Our Platform for Users and Content Providers Our LINE platform integrates mobile messaging services with a wide range of social and interactive content. We intend to build upon our strength in mobile messaging services to develop and broaden our spectrum of content offerings on our LINE platform as well as integrate offline services in order to further enrich the user experience. For example, we offer a variety of LINE Games, which are popular among casual game players, and plan to expand our game portfolio to include more immersive role-playing games in order to broaden our appeal to diverse user groups. We are also enabling more cross-application interactions, such as posting LINE Music tracks to a users Timeline and sending in-game items from LINE Games to other users. In addition to serving as a portal to other content, our LINE messaging application encourages closer, intimate relationships through free instant messaging combined with the use of fun, expressive Stickers.
Offer a Differentiated Marketing Platform for Advertisers We continue to enhance and broaden the range of our advertising services and products in order to enhance the appeal of LINE as an advertising platform and ultimately attract more advertisers. We intend to 7. Strengthen our ability to utilize data analytics and other technologies in order to provide more targeted and interactive advertising solutions that enable advertisers to best promote their brands and products and amplify their visibility and reach. For example, we recently introduced Timeline Ads to allow advertisers to reach a larger number of LINE users by posting advertisements on users Timelines, and implemented a new advertisement distribution system based on Hike, a smartphone native advertising platform that utilizes demographic and interest based targeting and real-time bidding to optimize online advertising inventory. We intend to attract additional business partners by introducing new and more comprehensive business solutions, such as Business Connect and LINE@, that help business partners integrate their online and offline advertising to better reach and communicate with customers. For larger businesses, we plan to launch our Official Web App designed to seamlessly incorporate their existing web services with LINE and to allow them to connect with our users with greater ease through automatic login and personalized push notifications. For SMEs, which may have limited or no web service capability, we plan to launch our SME Partnership Program, which is designed to help SMEs achieve better results by engaging with LINE users through aggregation services they already use.
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Further Monetize Our User Base and User Traffic We constantly explore and pursue new opportunities to monetize our user base. We focus our monetization and underlying marketing efforts on markets and regions where we have achieved a leading position. We intend to enhance and develop our content offerings and marketing solutions designed to capture increased monetization opportunities across our platforms. Pursue Strategic Investments and Alliances To develop and expand an ecosystem around our LINE platform, we intend to pursue strategic investments, acquisitions and alliances, in order to grow our user base and engagement and to introduce complementary services and products outside of our current content offerings. We also plan to selectively partner with leading content providers and service providers where such partnership would enable us to deliver a range of high-quality services through our LINE platform, leveraging our brand recognition and strong positioning as the leading messaging application in our key markets. For example, we have established a joint venture with transcosmos inc., an outsourcing service provider in Japan, to offer our business accounts customer support solutions utilizing one-to-one LINE chats. Summary Risk Factors Our business is subject to numerous risks described in the section entitled Risk Factors and elsewhere in this prospectus.
You should carefully consider these risks before making an investment. Japan is our largest market in terms of revenue, and our current business and future growth could be materially and adversely affected if we experience a decline in users or user engagement in Japan; We generate a substantial portion of our revenues from our advertising products. The loss of our advertisers, reduction in spending by our advertisers or failure to achieve market acceptance of new advertising products and services could negatively affect our business; We generate a substantial portion of our revenues from a small number of our mobile games and rely on third-party game developers.
Actively conduct marketing efforts in other parts of Asia, where we believed there was significant market potential based on the relatively low level of smartphone penetration in a relatively large and growing population size. In order to more effectively pursue global expansion outside of Japan, we incorporated LINE Plus Corporation, which provides sales and marketing services for the LINE platform outside of Japan, in Korea in February 2013. In February 2013, our board of directors decided to focus our business on the operation and expansion of the LINE platform and to dispose of our Hangame business along with related entities. We disposed of all of our interest in the Hangame business along with related entities (through the newly created NHN Japan Corporation) in the form of a non-cash dividend to NAVER Corporation in April 2013. In September 2014, as a part of our continued focus on the expansion of the LINE platform, our board of directors decided to dispose of our data management business, which consisted of DataHotel Co., Ltd., a wholly-owned subsidiary, and the data management business was subsequently sold to a subsidiary of NHN Entertainment Corporation, a Korean online game portal company that was spun off from NAVER Corporation in August 2013. NAVER Corporation currently owns 100% of the outstanding shares of our capital stock. NAVER Corporation is a leading internet company in Korea and listed on the KOSPI Market of the Korea Exchange.
See Principal Shareholder. Our principal executive offices are located at Shibuya Hikarie, 27 th Floor, 21-1 Shibuya 2-chome, Shibuya-ku, Tokyo 150-8510, Japan, and our telephone number is +81-3-5155-1008. Our English website address is /en /. The information on, or that can be accessed through, our website is not part of this prospectus. The Global Offering Global offering 35,000,000 shares of our common stock (including shares represented by ADSs). International offering shares of our common stock, deliverable in the form of shares or ADSs, to be offered in the United States and elsewhere outside Japan. Japanese offering shares of our common stock. Total shares of common stock to be outstanding after the global offering 209,992,000 shares of our common stock (including shares represented by ADSs).
Over-allotment options We have granted to Morgan Stanley & Co. LLC, as representative of the international underwriters, and to Nomura Securities Co., Ltd., as representative of the Japanese underwriters, the options, in the aggregate, to purchase up to an additional 5,250,000 shares of our common stock, in each case solely to cover over-allotments. Such options may be exercised independently of each other. An affiliate of Morgan Stanley & Co.
LLC as representative of the international underwriters, and Nomura Securities Co., Ltd., as representative of the Japanese underwriters, will enter into stock borrowing agreements with NAVER Corporation solely to facilitate settlement by the underwriters of over-allotments, if any. The affiliate of Morgan Stanley & Co. LLC and Nomura Securities Co., Ltd. Are obligated to return all borrowed shares to NAVER Corporation concurrently with the expiration of the over-allotment options. See Underwriting. Use of proceeds The primary purposes of the global offering are financing our business expansion, which may include investment, acquisition or strategic cooperation to expand our user base or procure additional content for the LINE platform, as well as marketing new products and services and repaying outstanding debt. Sales to designated purchaser The LINE Employee Shareholding Association will purchase shares of our common stock in the Japanese offering as a designated purchaser. Lock-up agreements We, NAVER Corporation, certain of our and our subsidiaries directors and officers, the LINE Employee Shareholding Association and Mr.
Joon Ho Lee, our former director, have agreed with the joint global coordinators (and, in the case of the LINE Employee Shareholding Association, the joint global coordinators and the Japanese joint lead managers named in the Japanese underwriting agreement) to restrictions on any sale of shares of our common stock or ADSs during the period beginning on the date of this prospectus and ending on the date that is 180 days from and including the date of delivery of the shares in the global offering, subject to the limited exceptions described in Underwriting. 11. We may amend or terminate the deposit agreement for any reason without your consent.
Any amendment that imposes or increases fees or charges or that materially prejudices any substantial existing right you have as an ADS holder will not become effective as to outstanding ADSs until 30 days after notice of the amendment is given to ADS holders. If an amendment becomes effective, you will be bound by the deposit agreement, as amended, if you continue to hold your ADSs. To better understand the terms of the ADSs, you should carefully read the section in this prospectus entitled Description of American Depositary Shares. We also encourage you to read the deposit agreement, which is an exhibit to the registration statement that includes this prospectus. Listings We will apply for listing of the ADSs on the New York Stock Exchange under the symbol LN. We have received approval to list and trade shares of our common stock on the Tokyo Stock Exchange under the securities identification code of 3938. Depositary for the ADSs JPMorgan Chase Bank, N.A. Controlled company NAVER Corporation, our parent currently holding 100% of the outstanding shares of our capital stock and which after our initial public offering will control approximately 83.3% (before exercise of any over-allotment options) of the voting power of our outstanding capital stock, will have the ability to control the outcome of matters submitted to our shareholders for approval, including the election of our directors and significant corporate transactions such as a merger.
Because NAVER Corporation controls a majority of the voting power of our outstanding capital stock, we will be a controlled company within the meaning of the New York Stock Exchange corporate governance rules. As a controlled company, we are eligible to and, in the event we no longer qualify as a foreign private issuer, we intend to elect not to comply with certain of the New York Stock Exchange corporate governance standards. Summary Financial and Operating Data You should read the summary financial and operating data below in conjunction with Unaudited Pro Forma Financial Information, Selected Historical Financial and Operating Data, Managements Discussion and Analysis of Financial Condition and Results of Operations and our historical consolidated financial statements and related notes included in this prospectus.
The consolidated statement of financial position data as of December 31, 2014 and 2015 and the consolidated statement of profit or loss data for the years ended December 31, 2013, 2014 and 2015 have been derived from our audited consolidated financial statements and related notes included in this prospectus. These audited consolidated financial statements and related notes have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (the IASB). The interim condensed consolidated statement of financial position data as of March 31, 2016 and the interim condensed consolidated statement of profit or loss data for the three months ended March 31, 2015 and 2016 have been derived from our unaudited consolidated financial statements and related notes included in this prospectus. The unaudited interim condensed consolidated financial statements and related notes have been prepared on the same basis as the audited consolidated financial statements and related notes and reflect, in the opinion of management, all adjustments of a normal recurring nature that are necessary for a fair statement of unaudited interim condensed consolidated financial statements.
The information set forth below is not necessarily indicative of the results of future operations, and the results in the first three months of the year ending December 31, 2016 are not necessarily indicative of results to be expected for the full year or any other period. Consolidated Statement of Profit or Loss Data For the year ended December 31For the three months ended March 312013 2014 2015 2015 (1) 2015 2016 2016 (1) (in millions of yen and millions of U.S. Consolidated Statement of Financial Position Data As of December 31As of March 312014 2015 2015 2016 2016 (in millions of yen and millions of U.S. The table below sets forth a reconciliation of our profit (loss) from operating activities to adjusted EBITDA for the periods indicated: For the year ended December 31, For the three months ended March 31, 2013 2014 2015 2015 2015 2016 2016 (in millions of yen and millions of U.S.
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^ Code under 1968 Road Traffic Convention. Presumably a reclassification of the expired mentioned above. Codes currently agreed not to use In addition, the ISO 3166/MA will not use the following alpha-2 codes at the present stage, as they are used for international in Standard ST.3: Code Organization name AP BX EF Union of Countries under the EM EP (Union of countries under the ) EV GC IB International Bureau of OA WO WIPO Standard ST.3 actually uses EA, instead of EV, to represent the. However, EA was already by the ISO 3166/MA to represent and for customs purposes. The ISO 3166/MA proposed in 1995 that EV be used by WIPO to represent the Eurasian Patent Organization; however, this request was not honoured by WIPO. Deleted codes Besides the codes currently and two other codes currently ( FX for and SU for ), the following alpha-2 codes have also been deleted from ISO 3166-1: Code Formerly used country name ISO 3166-3 Notes AI Code later reassigned to BQ Code later reassigned to CT DD Code taken from name in: Deutsche Demokratische Republik Common name: East Germany DY Name changed to ( BJ) The code is now. GE Code later reassigned to HV Code taken from name in: Haute-Volta JT MI NH NQ Part of PC PU Consisted of, and PZ RH Name used by country itself: Rhodesia ( was the colonial name) SK Code later reassigned to VD Common name: North Vietnam WK YD Common name: South Yemen For each deleted alpha-2 code, an entry for the corresponding former country name is included in.
Each entry is assigned a four-letter alphabetic code, where the first two letters are the deleted alpha-2 code. See also. in, part of the (FIPS). The in Unicode, introduced to use these codes., a different set of two-letter codes used for languages References. International Organization for Standardization (ISO). International Federation of the Phonographic Industry. Association of National Numbering Agencies.
Society for Worldwide Interbank Financial Telecommunication. Archived from on 2009-03-01. Society for Worldwide Interbank Financial Telecommunication. Archived from (PDF) on 2010-01-02. United Nations Economic Commission for Europe. Retrieved 6 May 2017. Internet Assigned Numbers Authority.
Handbook on Industrial Property Information and Documentation. World Intellectual Property Organization. European Union.
Official Journal of the European Communities, L 335. European Union.
United Nations Economic Commission for Europe. ISO Bulletin. Archived from (PDF) on December 12, 2008.
Retrieved 2016-12-22. ISO Online Browsing Plarform.
ICANN, January 16, 2007. 6 December 2010. Retrieved 2019-02-27. Mark Davis. Unicode Consortium.: 2013-11-01 at the, Release 50, September 2014.
8 March 2010. World Intellectual Property Organization. Retrieved 2013-08-07. Retrieved 2018-11-13. ISO Online Browsing Plarform.
Clive Feather (2003-07-25). Sources and external links., International Organization for Standardization (ISO). — searchable list of country codes.
Reserved code elements under ISO 3166-1 'Codes for the representation of names of countries and their subdivisions – Part 1: Country codes', available on request from ISO 3166/MA. (public domain), Central Intelligence Agency. — comparison of FIPS 10, ISO 3166, and STANAG 1059 country codes., Statoids.com. — comparison of ISO 3166-1 country codes with other country codes. a. Deleted.