Announcement Regarding Reduction in Executive Compensation
After much careful consideration, in order to take responsibility for the results of the Classic Rock Awards 2016 + Live Performance held by KLab’s subsidiary KLab Entertainment Inc. on November 11, 2016, as well as the business results of KLab Entertainment as a whole, KLab has announced that it will enact the following reduction in executive compensation.
1. Details of Reduction in Executive Compensation
Tetsuya Sanada, President & CEO of KLab Inc.: 20% reduction in the amount of monthly compensation
2. Applicable Period
For three months, starting April 2017
KLab is a leader in online mobile gaming. Founded in 2000 and headquartered in Tokyo, the company is listed on the 1st Section of the Tokyo Stock Exchange. KLab has consistently ranked as one of the top 50 grossing game publishers worldwide since 2012. With its emphasis on quality and innovative games, KLab continues to grow at a rapid pace, expanding beyond the Japanese market with offices in Singapore, the Philippines, Shanghai, and the United States. For more information about KLab, please visit http://www.klab.com/jp/english/.