USA/Canada News
UBIC, Inc., a provider of strategic international litigation support and forensic solutions, rang the Closing Bell at the NASDAQ MarketSite in New York City on August 5th, celebrating UBIC’s listing on the NASDAQ Global Market. The event was followed by a joint press conference.
UBIC was welcomed to the NASDAQ MarketSite by NASDAQ Vice President David Wicks who noted that UBIC is the first Japanese company to be listed on NASDAQ after Internet Initiative Japan in 1999, a span of 14 years.
In his remarks at the Closing Bell ceremony, UBIC Chairman and Chief Executive Officer Masahiro Morimoto said his company came to the United States to help protect Asian corporations and to assist in upholding the American ideals of justice and fairness.
“Our listing on NASDAQ is a step toward achieving these goals,” Mr. Morimoto said. “UBIC has a mission as a provider of eDiscovery support solutions out of Asia: we seek to level the global playing field so that Asian companies can compete with their Western counterparts on a truly even footing.”
The celebration of UBIC’s listing culminated in Mr. Morimoto ringing the “Closing Bell” signifying the end of the trading day at the all-electronic stock market.
Speaking for the NASDAQ, Mr. Wicks said that he is very happy to welcome UBIC as the first listing for a Japanese corporation in more than a decade. He added that he hoped the listing would spark further growth for UBIC in its global markets.
The NASDAQ ceremony was followed by a celebratory reception at UBIC’s New York office on Fifth Avenue, which was attended by some 70 well-wishers including customers and clients from local law firms, Japanese corporations and investment banks.
At this event, Mr. Morimoto articulated his vision for growing UBIC’s brand and business, which includes listing UBIC’s shares on the NASDAQ Global Market. The essence of his remarks is condensed below as “Three reasons why UBIC decided to list on the NASDAQ Global Market.”
Improve UBIC’s brand awareness in the U.S.
The U.S. is the largest market for eDiscovery services. UBIC has a well-established brand in Asia and good working relationships with leading corporations there. It is our goal to extend our leading position in Asia to become a global leader in the eDiscovery market place.
Raising awareness of the UBIC brand among the U.S. corporate and legal community is a vital step in creating an environment in which UBIC can earn its place as the “go-to partner” for eDiscovery solutions and services for corporations and their law firms.
Level the Playing Field for Asian Corporations and their International Law Firms
Historically, Asian companies have endured a significant time and cost disadvantage in the discovery process. Much of this disadvantage stemmed from the limitations of Western discovery solution providers in handling electronic documents written in or containing Asian languages, which are comparatively complex. This limitation creates numerous hurdles and it is common practice for U.S.-based, English-language-focused vendors to translate all documents from their respective Asian language into English prior to the process of separating relevant and irrelevant documents. This has often led to text data becoming corrupted, requiring that the work be redone multiple times at additional cost.
UBIC’s solution is to provide technological and support capabilities that work natively with major Asian languages and offer similar or better efficiencies and sophistication compared to Western service providers. Thus, UBIC levels the playing field for Asian corporations, their international subsidiaries and their U.S. law firms.
Establish UBIC as a truly global company and a leader in the US eDiscovery industry
The eDiscovery market is growing an average of 15 percent per year, according to Transparency Market Research, which projects that eDiscovery will be a $10 billion (US) industry by 2017. Meanwhile, UBIC’s proprietary, integrated eDiscovery platform, Lit i View is being upgraded continuously, with new versions released quarterly.
Lit i View incorporates UBIC’s advanced predictive coding technology, which is the only machine-learning technology tailored to accurately analyze Asian-language documents. Lit i View is being used to improve the accuracy of the discovery process in cases involving Chinese, Japanese and Korean languages while keeping costs to a minimum.
UBIC is determined to use its recognized technology advantage, along with its extensive experience and expertise in Asian-language eDiscovery, to become a global leader in the eDiscovery industry.
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