Business Wire

JAKKS Announces Closing of $19.3 Million Sale of Common Stock to Joint Venture Partner Hong Kong Meisheng Culture Company Ltd.


JAKKS Pacific, Inc. (NASDAQ: JAKK) today announced that the Company closed the sale of 3,660,891 shares of the Company’s common stock to Hong Kong Meisheng Culture Company Ltd. (“Meisheng”) for a total purchase price of $19.3 million, and that Xiaoqiang Zhao, Executive Director of Hong Kong Meisheng Culture Company Ltd. and Chairman of the Board of its parent company Meisheng Cultural & Creative Corp., Ltd., joins JAKKS’ board of directors.

Stephen Berman, Chairman and Chief Executive Officer, stated: “We are pleased that Meisheng has increased their equity position in JAKKS and that Mr. Zhao has become a member of our board of directors. We are excited about the expanded opportunities in China that we anticipate will be available to us through our relationship with Meisheng.”

Xiaoqiang Zhao stated: “We are delighted to add to our shareholdings in JAKKS. We expect this step will strengthen our two companies’ strong strategic partnership. I’m also honored to join JAKKS’ board of directors. I will bring my decades of experience in the fields of consumer products and management to JAKKS and anticipate that we will work together to strengthen both companies’ businesses in the United States, China and other markets.”

Meisheng announced in March 2017 that it acquired 1,578,647 shares of the Company’s common stock in open market transactions. In addition to the joint venture companies established by Meisheng and JAKKS, Meisheng Cultural & Creative Corp., Ltd. has for many years been a key manufacturer for the Company.

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer, manufacturer and marketer of toys and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS Pacific’s popular proprietary brands include BIG-FIGS™, XPV®, Max Tow™ and Friends, Disguise®, Moose Mountain®, Funnoodle®, Maui®, Kids Only!®; a wide range of entertainment-inspired products featuring premier licensed properties; pet products; and C’est Moi™, a skincare and performance make-up brand. Through JAKKS Cares, the company’s commitment to philanthropy, JAKKS is helping to make a positive impact on the lives of children. Visit us at and follow us on Instagram (@jakkstoys), Twitter (@jakkstoys) and Facebook (JAKKS Pacific).

© 2017 JAKKS Pacific, Inc. All rights reserved.

Forward Looking Statements

This press release may contain “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS' products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. The “forward-looking statements” contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.

Contact information

JAKKS Pacific, Inc.
Sara Rosales Montalvo, 424-268-9363
Joel Bennett, 310-455-6210

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

FAA Approves AerTrakTM to Comply with Automatic Dependent Surveillance-Broadcast (ADS-B) Operations Mandate19.3.2018 18:19Pressemelding

The Federal Aviation Administration (FAA) has issued a Supplemental Type Certificate (STC) for installation of AerSale®’s AerTrak™ system on Boeing 737 NG series aircraft (ST04009NY), to comply with the Automatic Dependent Surveillance-Broadcast (ADS-B) Operations rule, a critical part of the agency’s Next Generation Air Transportation System (NextGen). Beginning January 1, 2020, the FAA has mandated that aircraft operating in airspace defined by 14 CFR § 91.225 must be equipped with an ADS-B Out system that meets the minimum performance requirements of 14 CFR § 91.227. ADS-B provides enhanced navigational accuracy using precise tracking via global positioning satellite (GPS) signals. Reducing risk and improving safety, the technology increases navigational coverage, especially in remote areas beyond radar range. Additionally, ADS-B enables more direct flight plans, thereby saving time, costs, and reducing emissions. “AerTrak is a cost-effective ADS-B Out solution for operators of Boei

Ghostbusters World with Google Maps API Featured During Google Keynote at GDC 201819.3.2018 18:14Pressemelding

The recently announced Ghostbusters World, developed in collaboration between Sony Pictures Entertainment Consumer Products, Ghost Corps and publisher FourThirtyThree Inc. (4:33), was featured today on stage during the Google Keynote at the Game Developers Conference 2018. The new gameplay video will also be on display at the Google booth on the expo floor March 21-23. Created with Maps API technology, Ghostbusters World features state-of-the-art augmented reality in the map-based game where players can suit up to patrol their neighborhoods and bust their favorite Ghostbusters ghosts! Drop by the Google booth or click here (LINK) to check out the new gameplay video. Battle and capture hundreds of new and familiar ghosts in Ghostbusters World, launching everywhere on iOS and Android devices later this year. If you ain’t afraid of no ghosts and want to keep track of news and updates, follow us on Twitter (LINK), Facebook (LINK), and YouTube (LINK). More information and assets can be foun

Bajaj Electricals Showcases ‘Smart Indoors and Connected Outdoors’ at Light + Building 201819.3.2018 16:00Pressemelding

Bajaj Electricals Limited, India’s leading player in consumer durables, fans, lighting and engineering projects, participates in world’s leading trade fair Light + Building 2018 at Frankfurt, Germany from March 18th-23rd, 2018. Bajaj Electricals is featuring its smart solutions at Stall D10 in outdoor arena-Agora. This press release features multimedia. View the full release here: Mr. Anant Bajaj, Joint Managing Director, Bajaj Electricals Ltd. (Photo: Business Wire) Based on the key theme of ‘Smart Indoors and Connected Outdoors’, the stall demonstrates the connection between indoors and outdoors through cloud computing. With almost eight decades of experience and expertise in lighting solutions and luminaires, Bajaj Electricals has a host of products exhibited at the trade fair ranging from smart indoor lights for home, commercial and industrial spaces to smart outdoor lights, sensor-based light, smart poles and various integra

Louis Chevrolet Watch Company launches the Chrono-Tour Bitcoin Special Edition19.3.2018 15:00Pressemelding

Code name: Chrono-Tour Bitcoin Special Edition – Launch: 20/03/2018 – 14.00 GMT This press release features multimedia. View the full release here: (Photo: Louis Chevrolet Swiss Watches) Event! Louis Chevrolet Swiss Watches launches a Swiss Made automatic chronograph dedicated only to Bitcoin owners. An exclusive and limited-edition series to symbolise and affirm the unique sales channel chosen by the brand: its e-commerce store. Each Louis Chevrolet Chrono Tour Bitcoin Special Edition will be Unique Chrono-Tour Bitcoin Special Edition, a well-thought-out stylish design, elegantly bringing the Bitcoin to the forefront. In addition to a specific dial, a Bitcoin logo textured around a printed circuit board will be inserted into the back glass. This gives a technological holographic effect while highlighting the mechanics of the watch. The background will be personalised with a laser and will indicate the purchase price in Bitcoins

New Global Survey Points to Key Issues, Needs and Gaps in Fight to End Smoking19.3.2018 14:00Pressemelding

The Foundation for a Smoke-Free World released findings today from a global survey to better understand smokers, their experiences, and challenges they face when they try to quit smoking. The survey also highlights their awareness regarding the harm caused by smoking and how their perceptions of cigarettes, alternative products, and nicotine influence their motivation to move away from smoking. The data will shape the development of research to determine the best solutions to accelerate the end of smoking across diverse cultures and economic conditions. This press release features multimedia. View the full release here: Figure 1: Which of the following situations, if any, apply to you? (% - Top Three Answers per Country) (Graphic: Business Wire) The 2018 State of Smoking Survey included 17,421 current smokers, ex-smokers, and non-smokers from 13 countries: Brazil, France, Greece, India, Israel, Japan, Lebanon, Malawi, New Zealan

New Documentary Raises Global Water Crisis Awareness As 844 Million People Still Lack Access to Clean Drinking Water19.3.2018 13:12Pressemelding

Procter & Gamble’s (P&G) non-profit Children’s Safe Drinking Water (CSDW) Program and National Geographic are raising awareness about the global water crisis with the release of a new documentary and national survey in conjunction with World Water Day. The documentary, titled “The Power of Clean Water,” follows the lives of three women and their families, providing a first-hand perspective on the daily challenges of accessing clean drinking water. As the film progresses, viewers witness how P&G’s Purifier of Water packets, distributed by partners ChildFund in Indonesia, CARE International in Kenya and World Vision in Mexico, have helped transform these communities. This press release features multimedia. View the full release here: P&G conducted a survey* to understand Americans' level of awareness and concern with the global water crisis and its effects. (Graphic: Business Wire) Global awareness of the water crisis is growing,