GungHo Considering Relocating HQ to Finland

Posted 22:12 EST on 15NOV2013 by: tim walker in news » gung ho, softbank

Son Taizo, chairman of GungoHo Online Entertainment, has revealed that they are conducting a preliminary investigation into the possibility of relocating the company’s head office to Finland. He stated that this was because of the lower tax burden Finland places on corporations.

During an interview at a meeting related to setting up a branch in Finland, the chairman remarked that they were considering moving their head office, and that they were currently investigating their options.

SoftBank, the major shareholder in GungHo, has turned its attention towards Finland to strengthen its hold in the game industry. Last month, SoftBank purchased a $1.5 billion stake in the major smartphone game company Supercell, which is headquartered in Finland.

Last year, Finland reduced taxes levied against corporations located there in an effort to bolster business growth during a period of economic stagnation. GungHo and Supercell collaborated with one another on promotional activity starting last summer, and their partnership has grown with both companies under the SoftBank umbrella.

Source: The Wall Street Journal (Japan)