Seoul, South Korea / ACCESSWIRE / December 23, 2014 / Leo Motors Inc. (OTCBB: LEOM) announced that it signed the Memorandum of Understanding with Eco Holdings, leading solar energy company in Japan to establish a joint venture company in Japan.
The joint venture will manufacture and market electric fishing boats and energy storage systems in Japan. Signing the MOU, both companies are doing their best in developing electric fishing boats suitable to the Japanese fishing industry.
According to Dr. Kang, CEO of Leo Motors, "the MOU is the sign of the start of Leo's successful business in Japan. The electric fishing boat market in Japan is more than 3 times bigger than Korea. With this MOU, Leo is able to enter the hot market."
Eco Holdings has more than 750 employees, and sold more than $200 million last year.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "anticipates", "will", or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
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SOURCE: Leo Motors