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TOP News Release Announcement of Transition to Holding Company Structure through Company Split and Change of Trade Name
Corporate

Announcement of Transition to Holding Company Structure through Company Split and Change of Trade Name

We are pleased to announce that as of October 1, 2023, our company will transition to a holding company structure through a company split, and Prometech Software, Inc. will change its trade name to Prometech Group, Inc. (Head office: Bunkyo-ku, Tokyo; Chairman and CEO: Tomomitsu Fujisawa).

In accordance with the transition to a holding company structure, the rights and obligations of the CAE and HPC & Visualization businesses of the former Prometech Software, Inc. were transferred to the newly established wholly owned subsidiary (New Prometech Software, Inc.) through an absorption-type company split.

Summary

About the holding company: Prometech Group, Inc. (formerly Prometech Software, Inc.)

Trade NamePrometech Group, Inc.
Date of EstablishmentOctober 29, 2004
RepresentativeFounder, Chairman and Group CEO
FUJISAWA Toshimitsu
LocationHongo Dai-ichi Building, 8F, 34-3, Hongo 3-chome,Bunkyo-ku, Tokyo 113-0033, Japan
Main BusinessesManagement of group companies, etc.
Homepagehttps://group.prometech.co.jp/

About Subsidiary: (New) Prometech Software, Inc.

Trade NamePrometech sowtware, Inc.
Date of EstablishmentApril 6, 2023
RepresentativePresident and CEO
SUZUKI Takahiko
LocationHongo Dai-ichi Building, 8F, 34-3, Hongo 3-chome,Bunkyo-ku, Tokyo 113-0033, Japan
Main BusinessesR&D and sells CAE software and provides consulting services in Computational Fluid Dynamics and Powder Simulation.
HPC(High performance Computing) and Visualization solution servises.
Homepagehttps://www.prometech.co.jp/

Holding Company Structure (as of October 1, 2023)

Prometech Group, Inc, which aims to become the world's No. 1 tech company in computational science through collaboration between industry and academia, has reorganized its management structure into a holding company to create synergies through an organization united from the perspective of management strategy.

Under this new structure, Prometech Group, Inc. will 1) raise risk money to invest in new businesses and business expansion, 2) acquire external capabilities through M&A and capital and business alliances, and 3) attract excellent human resources by introducing personnel systems that fit each operating company, thereby growing both core businesses and new businesses.