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| News Release |
| PRESS CONTACT: Corporate Communication, WebMoney Corporation info@webmoney.ne.jp +81-3-5739-3054 URL http://www.webmoney.co.jp/ |
| Supporting the Issuance of Original Electronic Money By utilizing the patented electronic money system, WebMoney actively starts the provision of electronic money licensing. |
| Tokyo-October 4, 2006 - WebMoney Corporation (CEO/President: Tatsuya Mizoguchi, head office: 1-23-23 Ebisu, Shibuya-ku, Tokyo, hereinafter referred to as WebMoney) is a subsidiary of Faith, Inc. (CEO/President: Hajime Hirasawa, head office: Nakagyo-ku, Kyoto, listed on the first section of the Tokyo Stock Exchange; local code: 4295.) WebMoney, the currency WebMoney issues has gained the overwhelming recognition and is used by many internet users. To utilize the electronic money issuance and settlement system, for which patents have been granted in five countries including Japan and the U.S., it has decided to provide the support to the various internet-based service providers for the issuance of the original electronic money. WebMoney, which is presently operated by WebMoney, was launched in 1998 as an electronic money to be used on the internet. Prior to the operation of WebMoney, it had created new and unique technology for the electronic money issuance and settlement system and in order to maintain the issuance of the reliable electronic money, it sought the patentability of its system in both Japan and abroad. As a result, WebMoney first received a patent in Singapore in August of 2005, follows the approval in Taiwan and Korea in September 2005, and in Japan in October 2005. On November 8, 2005, it obtained a patent in the U.S., thus WebMoney owns seven patents in five countries, including Japan, Singapore, Korea, and Taiwan. Based on the research on the operation of other similar types of electronic money and their relation to our patents, after September 2006, we are planning further licensing on the technology necessary for the companies providing various internet-based services to issue their own electronic money. This will enable the Company not only to support the issuance of original electronic money by companies providing online games and music distribution services, but also to provide gift certificates and coupons for use on Internet shopping sites. In addition, using our own electronic money issuance and settlement system as an important resource, WebMoney Corporation is planning on quickly and aggressively creating businesses abroad. WebMoney will continue to contribute to the expansion and development of the electronic commerce market and internet-based paid content distribution market both in Japan and overseas by issuing WebMoney and licensing its electronic money issuance and settlement system |
| ©2006 Faith, Inc, All Rights Reserved. |