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TOKYO - BloomZ Inc. (NASDAQ:BLMZ), a company specializing in audio production and the management of voice actors and VTubers, has announced the appointment of Ryoshin Nakade as the new co-Chief Executive Officer and co-Chairman of the Board, effective last Monday. The appointment comes as the company’s stock has declined nearly 90% over the past year, according to InvestingPro data. Nakade will work alongside current co-CEO Kazusa Aranami to spearhead the company’s next growth phase.
The addition of Nakade to the leadership team is seen as a strategic move to enhance the company’s executive experience, aiming to overcome resource constraints that limited further opportunities in fiscal year 2024. While InvestingPro data shows revenue growth of 71% in the last twelve months, the company faces challenges with rapid cash burn and negative EBITDA of $1.2 million. Nakade brings a diverse background in technology, law, and finance, which is expected to provide fresh perspectives and contribute to scalable growth for BloomZ.
Nakade, who also serves as the Chairman of Tokyo Robot Co., Ltd., has a rich history of leadership roles in various financial institutions, including AIP Securities, Samurai Securities, and IS Securities. His career began at The Azuma, a Japanese Certified Public Accountant office, and he has held positions at Wintech General Research Institute and as a researcher at Japan University of Economics Graduate School of Business.
In his statement, Nakade expressed his honor to lead BloomZ alongside Aranami and his eagerness to implement strategies for expansion, focusing on strengthening the management team, pursuing strategic capital raising, and exploring new business alliances and partnerships.
BloomZ Inc., headquartered in the Cayman Islands, operates through its subsidiary in Japan, Kabushiki Kaisha BloomZ. The subsidiary has over a decade of experience in audio production for animations and video games and manages a roster of voice actors and VTubers.
This leadership change is part of BloomZ’s ongoing initiatives to deliver long-term value for shareholders. According to InvestingPro analysis, the company maintains a healthy current ratio of 2.81 and holds more cash than debt, though current market valuation suggests the stock is trading below its Fair Value. The information is based on a press release statement, and no further details about the financial terms or future plans were disclosed. InvestingPro subscribers have access to 11 additional insights about BloomZ’s financial health and growth prospects.
In other recent news, BloomZ Inc. has announced a strategic alliance with TechnoBlood eSports Co., Ltd. This partnership aims to integrate BloomZ’s VTuber business into the expanding e-sports and live streaming sectors. By leveraging TechnoBlood’s StreamPot platform, BloomZ plans to broaden its content offerings and engage more deeply with the e-sports market. This collaboration will enable BloomZ’s VTubers to participate in e-sports events and reach a wider audience, providing new opportunities for engagement. The company will earn a performance fee for each event featuring its VTubers and a share of advertising revenue from sponsorships on the StreamPot platform. Kazusa Aranami, CEO of BloomZ, highlighted the potential for VTubers to connect with more brands and enhance their presence in digital entertainment. This alliance is seen as a way to open new monetization channels and strengthen brand partnerships. BloomZ has noted that while they have high expectations, actual results may vary due to potential risks and uncertainties.
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