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NEW YORK, Feb. 01, 2016 (GLOBE NEWSWIRE) -- UBIC, Inc. (Nasdaq:UBIC) (TSE:2158), a leading provider of international litigation support and big-data analysis services, announced today that it has opened a new flagship Managed Review center in New York. The official name of the center is �UBIC Managed Review Center at Bryant Park in New York City and a grand opening event is taking place on-site on February 1st from 5:00  7:00 pm EST.

With growing client demand across the U.S., the 200+ person review center offers state-of-the-art document review capabilities in a market where UBIC has an extensive client-base. And following the post-merger integration activities of TechLaw Solutions and Evolve Discovery, the newly unified UBIC is well positioned to offer regional, national and global clients a unique experience across the eDiscovery spectrum, including specialized expertise in Asian language support.

The new managed review center can handle large-scale review projects for law firms and corporations, with most government work handled in the UBIC Washington DC Review Center, which opened in July of 2015 with similar capacity. The New York managed review center team will provide staffing for review projects, hoteling for clients on-site, and easy access for clients throughout the city. As well, UBIC has consolidated part of its Chelsea and Mid-town office staff to the new managed review center for synergies on projects, including sales, project management and other support services.

"We are proud that New York is the location of our new flagship managed review center," says Andy F. Jimenez, Chief Executive Officer at UBIC North America. "Many of our local law firm clients and corporate clients will benefit from this modern center being right in their backyard. This centralized location combining review, sales, project management, and other support staff enables us to deliver the most efficient and valuable service to our clients."

NEW YORK, Nov. 30, 2015 (GLOBE NEWSWIRE) -- UBIC, Inc. (UBIC) (TSE:2158) ("UBIC" or "the Company"), a leading provider of artificial intelligence (AI)-based big data analysis services, announced today its decision on November 30, 2015 to implement a refinancing of short term borrowings as follows:

1. Reason for the Loans

On July 31, 2015, UBIC completed the acquisition of EvD, Inc. as announced on the same day in the Company's press release entitled, "Matters Regarding UBIC's Acquisition of Shares of EvD, Inc. (to Become Our Subsidiary)", financed by short-term loans from The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Sumitomo Mitsui Banking Corporation that were announced on July 27, 2015 in the Company's press release entitled: "Matters Regarding Debt Finance".

The Company has decided to implement a refinancing with long-term loans from The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Sumitomo Mitsui Banking Corporation as part of a loan program through the JBIC (Japan Bank for International Cooperation) that supports the investments of Japanese companies in foreign countries.

The Company expects that this stable source of funding from the refinancing will strengthen the Company's financial status.

2. Summary of the Loans

3. Prospects in the Future

The impact of the contents of this news release on the Company's consolidated results ending in March 2016 is minor. The Company will make a further announcement promptly if it finds it has material impact on the results.

UBIC, Inc. and Subsidiaries

Consolidated Statements of Operations

For the Year Ended March 31

Management Discussion and Analysis

Total revenue

Total revenue for the year ended March 31, 2015, increased by ¥2,112.4 million, or 50.4%, to ¥6,304.9 million compared with the year ended March 31, 2014 of ¥4,192.6 million. The increase in total revenue was due primarily to the acquisition of large cases, including cases related to cartel matters, the successful acquisition of new large accounts in the United States, and the strengthened pipeline contributed by the acquisition of TechLaw Solutions, Inc..

Revenue from our eDiscovery services increased by ¥2,089.7 million, or 55.4%, to ¥5,859.6 million in the year ended March 31, 2015 from ¥3,769.9 million in the comparable period in the previous year. The increase in revenue from our eDiscovery business was due to the acquisition of large cases, including cases related to cartel matters, the successful acquisition of new large accounts in the United States, and the acquisition of TechLaw Solutions, Inc., as described above.

Revenue from legal and compliance professional services (LCPS) and other services were ¥445.3 million, which increased 5.4% from the previous fiscal year. The increase was due primarily to increase in revenue from investigations to which technology cultivated through the eDiscovery business applied offset by decrease in revenue from forensic tool and training. The increase was attributable to “Lit i View XAMINER” which is the forensic software we released last fiscal year and to newly launched “Lit i View EMAIL AUDITOR” driven by UBIC AI technology.

Net income (loss) attributable to UBIC, Inc. shareholders

Net income attributable to UBIC, Inc. shareholders for the year ended March 31, 2015 was ¥218.5 million compared with the net loss in the prior year of ¥448.4 million, due to an increase in revenue of ¥2,112.4 million, or 50.4%, and increases in the cost of revenue of ¥825.7 million, or 35.7%, and selling, general and administrative expenses of ¥366.8 million, or 14.7%, compared to the year ended March 31, 2014.

UBIC, Inc. and Subsidiaries

Consolidated Statements of Operations

For the Year Ended March 31

Management Discussion and Analysis

Fiscal Year Ended March 31, 2014 Compared to Fiscal Year Ended March 31, 2013

Total revenue

Total revenue for the year ended March 31, 2014, declined by ¥519.5 million, or 11.0%, to ¥4,192.6 million compared with the year ended March 31, 2013 of ¥4,712.1 million. The revenue decline was due primarily to a decrease in revenue from the manual review and data processing services of our eDiscovery business, partly offset by an increase in data hosting services.

Revenue from our eDiscovery service decreased by ¥629.6 million, or 14.3% to ¥3,769.9 million in the year ended March 31, 2014 from ¥4,399.4 million in the comparable period in the previous year due to a reduction in the demand for eDiscovery services caused by the postponement of discovery operations for cartel- and intellectual property-related projects, and the cancellation of eDiscovery projects because of legal settlements by our clients.

Revenue from legal and compliance professional services (LCPS) and other services were ¥392.2 million, which increased 25.4% from the previous fiscal year due to an increase in projects for credit card-related investigation services as well as the winning of large-scale projects in forensic services. Further, the increase was attributable to the launch of forensic software called “Lit i View XAMINER” (XAMINER) equipped with the Group’s internally developed artificial intelligence technology.

Net income (loss) attributable to UBIC, Inc. shareholders

Net loss attributable to UBIC, Inc. shareholders for the year ended March 31, 2014 was ¥448.4 million compared with the net income in the prior year of ¥596.0 million, due to a decrease in revenue of ¥519.5 million, or 11.0 %, and increases in the cost of revenue of ¥469.1 million, or 25.4%, and selling, general and administrative expenses of ¥548.3 million, or 28.1%, compared to the prior year.