2017.06.28 
 
2017.06.28 

BEENOS Invests in Multilanguage Product Information Display App Payke Inc.

Payke Raises 200 Million JPY in Fundraising

This is a translation of the original Japanese release. The Japanese text shall prevail in case of any variance between this version and the Japanese text.

Tokyo, Japan – 28 June 2017 – BEENOS Inc. (BEENOS) announced that it has invested in Payke Inc.(Payke), an app service that allows users to read product descriptions in their native language, through the issuance of new shares by way of third-party allotment. BEENOS will be joining 4 other companies (The Bank of Okinawa, Ltd., COLOPL, Inc., NTT DATA Corporation and The Okinawa Development Finance Corporation) to invest in Payke for a sum of 200 Million JPY.

 
  1. About Payke
    Payke launched its Payke app in November 2015 that allows users (specifically foreigners visiting Japan) to obtain product information in their native language (currently supports English, Chinese [simplified and traditional], Korean and Japanese) by scanning the barcode of a product using their smart phones.

    Currently over 600 companies have provided Payke with their product information and the app can display information for over 100,000 items with an emphasis in medical, cosmetic and food products.

    The number of users is also steadily increasing and the app was the most downloaded in the App Stores in Taiwan, Hong Kong and Macau.

    Payke was awarded the most prestigious “Minister for Internal Affairs and Communications Award” at the Ministry of Internal Affairs and Communications/National Institute of Information and Communications Technology Entrepreneurs’ Challenge held on 8 March 2017. It also achieved the highest award at the Fujitsu Accelerator Program (sponsored by Fujitsu) on 4 April 2017. This pioneering business model to act as a solution for inbound foreigners is attracting a lot of attention within the industry.

    Payke intends to fortify their infrastructure to prepare for business expansion and run promotions to acquire more users through this round of fundraising.
     
    ▼Demonstration of Payke app barcode scanning
     

    Advantages for Companies to use Payke

    • Can describe and promote products to foreign users through the app amidst any language barriers
    • Can track user information (gender, age, country of origin) to obtain marketing data on their products
    • Can promote products on a broader scale beyond its normal packaging
    • Increase the purchasing probability of products
     

    ◆Payke Company Profile

    1. Company Name:Payke Inc.
    2. Representative:Keisuke Furuta, CEO
    3. Headquarters:Naha Shimin Kyoudou Plaza Sangyou Shien Center #411, 2-3-1 Mekaru Naha-shi, Okinawa, Japan
    4. Established:26 November 2014

  2. Background Information Regarding the Investment
    BEENOS has recently been investigating opportunities to tap into the inbound travel market.

    As the Japanese government plans to increase the number of foreign visitors by 40 million people by 2020, there is opportunity for the consumer market for Japanese products to grow substantially.

    BEENOS chose to invest in Payke as it sees the potential for Payke to grow to the scale of other inbound platform businesses across the globe using information technology and visualizing big data.

    As BEENOS continues to support the growth of Payke as a shareholder and strategic partner, it also hopes to consider options to collaborate with BEENOS subsidiary, tenso, inc., which has over 1 million users living abroad.