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Teaser Memorandum
InvestmentOpportunitiesIn Korea
The First Half of 2017
Table of Contents
Important Notice ………………………………… 1
Key Summary ………………………………… 2
Expected Method of Investment Promotion …………………………… 3
Business Plan ………………………………… 4
Business Introduct ………………………………… 5
License ………………………………… 11
Capacity ………………………………… 12
Market ………………………………… 13
Financial Figures ………………………………… 14
Private & ConfidentialKey Summary
Category Description
Establishment Date 2013. 8. 26
Revenue 12 Billion Won (12 Million $) (2016)
Website www.rbbridge.com
Current Shareholder Composition
C.E.O. Kim Jin Woo 29.2%, C.E.O. Kim Do Hoon 29.2%, Institutional Investment 31.7%, Executives and Staff5.6%, Etc. 4.3%
Head Office B1F Starhills, Janghan-ro 20-gil, Dongdaemun-gu, Seoul
Number of Employees
55
History 2010. 03 Rainbowbridge Agency, Inc. Incorporation (CEO, Kim Jin Woo)2012. 03 WA Entertainment Inc. Incorporation (CEO, Kim Do Hoon)2014. 01 Overseas Broadcasting Program format (Re:Birth) copyright registration (KOREA COPYRIGHT COMMISSION)2014. 03 Venture Business Certification (No. 20140103411)2014. 04 Laboratory affiliated with the Company (Media & Contents Lab) Certificate (Ministry of Science, No. 2014111725)2014. 10 Investment from KTB Network Project (Re:Birth Project, 1 Billion KRW)2015. 02 Merger between WA Ent., Inc. and Rainbowbridge Agency, Inc. (Transfer of Rights)2015. 02 Change of name from Joint Corporation Rainbowbridge Agency, Inc. -> RBW, Inc. (Co-CEO Kim JinWoo, Kim Do Hoon). 2nd paid-in capital increase (Capital: 350 million KRW ->490 million KRW)2015. 07 Investment of 7 billion KRW from KTB Network, Korean Investment Partners, Posco Venture, NHN (Capital: 490 million KRW-> 710 million KRW)2015. 09 V-App Vietnam PR-Marketing Agency contract with Naver Corporation2016. 01 Selected as an operating institution for the 2016 Youth-employment academy ‘Entertainment-business Talent Training Program’, (by the Ministry of Employment and Labor, Human Resources Development Service)2016. 06 Selected as ‘2016 Excellent Venture Company by Korea Venture Business Association
Company Profiles
Investment Highlights
Key Factors• Business with RBW’s Unique Artist Incubating System
•Affiliation Relationship with International Companies
Description • With analyzing the artists’ potentials and market trend, every stage for training and debuting artists (casting, training, producing, and album production) is efficiently processed under this system.
Pictures
RBW is a K-POP (Hallyu) contents production company founded by producer/songwriter Kim Do Hoon, Kim Jin Woo, and Hwang Sung Jin, who have produced numerous K-POP artists such as CNBLUE, Whee-sung, Park Shin Hye, GEEKS, 4MINUTE etc. Based on the “RBW Artist Incubating System’, the company researches and provides various K-POP related products such as OEM Artist & Music Production (Domestic/Overseas), Exclusive Artist Production (MAMAMOO, Basick, Yangpa etc.), Overseas Broadcasting Program Planning & Production (New concept music game show/Format name: RE:BIRTH), and K-POP Educational Training Program. With its business ability, RBW is currently making a collaboration with various domestic and overseas companies, including POSCO, NHN, Human Resources Development Service of Korea, Ministry of Labor & Employment, and KOTRA.
2
Private & ConfidentialExpected Method of Investment attraction
Category Description
Method of Investment Common Stock or RCPS
The amount of fund
comes from
Investment Attraction
10 Billion Won (Approx.)
Investment Location All Area of Japan
Purpose of Using Invested Fund
- The entry of RBW Artists in global market and Japan Artists in Korean market / Establishment of a subsidiary company in Japan for expansion of OEM/ODM Education business
- Extending the company’s business to various global markets, including South-East Asia, China-related nations, Vietnam, Europe, and Mid/North America, with Japan co-investors.
Customers Various Asian countries, including China, Taiwan, Hong-Kong, Vietnam, Japan
Actual Exports Approximately 20% of Total Sales
Investment Requirement
Method of Investment –RCPS or Common Stocks that worth about 10 billion Won.
Purpose of Using Invested Fund – Establishment of a subsidiary company in Japan and extending the business field for various types of business and global expansion
USD 1.5Million
USD 10Million
Vietnam, Japan & Etc
2016's export record1.5 million $ exports to Vietnam, Japan, China,
and Indonesia
Investment Planplanning the global expansion with co-investors in Japan by establishing the branch office
with investments funds.
International customers making connections with
internal partner companies and advancing
abroad by establishing Vietnam branch company
3
Private & ConfidentialBusiness Plan
Categories of Business PlanCategories Description
Artist Incubating System
Developing the business that produces OEM Artists and contents with making a connectionwith overseas companies (BtoB/BtoC)
Expected Sales: 2 billion Won / year Be able to dominate the market, because of absence of strong competitors
Production and Planning of
Concerts/Performances
Developing the business that produces and plans the K-POP artists’ world tour More than ten businesses and 2 billion won sales per year, are expected Diversification of business and creating stable revenue
K-POP travel Package
Developing BtoC products that attract K-POP fans with its popularity and high accessibility.
Developing contents that utilize Korea and Japan’s geographical proximity and active cultural communication between them
Increasing the company’s brand value and popularity.
Categories 2016 2017 2018
Sales 10,623 15,934 18,165
Sales Cost - - -
(The rate of Sales Cost) (%) - - -
Gross Margin 10,623 15,934 18,165
Selling and Administrative Expenses
9,964 14,810 16,668
depreciation cost 348 464 499
Operating Profit 658 1,124 1,497
The Rate of Operating Profits (%)
6.19% 7.05% 8.24%
Net Profit During the Term 881 1,293 1,672
R&D NA NA NA
R&D compared to Sales NA NA NA
Forecasting Financial Figures
Categories Description
The Estimated Net Profit During the Term 4,500
Equity Value (Late 2018) 135,000
Valuation (Late 2018)
Equity Value The Estimated Relative Value (Late
2018)
(Million Won)
4
(Million Won)
Private & Confidential
5
Business Introduction
RBW Artist Incubating System / RAISe
‘RBW Artists Incubating System (RAISe)’ is RBW. inc.’s unique production system that manages the artists effectively. With
analyzing the artists’ potentials and market trend, every stage for training and debuting artists (casting, training, producing, and
album production) is efficiently processed under this system.
Special producer’s
evaluation and
selection of would-
be artists
Various training
activities (Dance, Vocal,
Stage) for improving
artists’ abilities
Music production
specialized for artists’ styles
Includes composing lyrics,
arranging, mixing &
mastering
Establishing the special
concepts for each artist
Dance Production,
Supporting filming MVs
Artist Debut
Acting as a proxy in
advertising and marketing
afterward
01 03 04 0502
CASTING TRAINING PRODUCTION (MV, 안무,
의상)
DEBUTPRODUCING
Main Business ①-1 OEM Artist & Music Production (B2B)
Development of music and artist with the request of agencies (Domestic/Overseas)
RBW offers customized production agency services that fit the conditions and needs of customers, from artist casting,
training, music producing, and style consulting to album production. With the production agency service, clients can
minimize the cost for human and material resources to establish an entertainment company. In addition, the possibility of
success in producing artists gets bigger by applying RBW’s effective training system.
LYN
TRAINING,
MUSIC
- PRODUCING,
PRODUCTION
SEVENSENSE
TRAINING,
MUSIC
- PRODUCING
S.I.N.G
TRAINING,
MUSIC
- PRODUCING
XL
TRAINING
Stage남단
TRAINING
FRIDAY
TRAINING
S4S.O.S
CASTING,
TRAINING,
MUSIC
- PRODUCTION
SHU-I
MUSIC - PRODUCTION
CODE-V
CASTING,
TRAINING,
MUSIC
- PRODUCING
TUNG LEE LIME
CASTING,
TRAINING,
MUSIC
- PRODUCTION
CASTING,
TRAINING,
MUSIC
- PRODUCTION
CASTING,
TRAINING,
MUSIC
- PRODUCTION
KELVIN KHANH
TRAINING
PRODUCING
NOO PHUOC THINH
TRAINING
CHI PU
TRAINING
OEM Artists and Music Productions (Oversea)
Process of OEM Artist Production
Requesting Production Scheduling
Designating the staff and producers
Setting the scope of business and
estimating
Sending the weekly and
monthly reports
Progress of production
Artist Debut
Private & ConfidentialBusiness Introduction
Main Business ①-2 OEM Artist & Music Production (B2B)
OEM Artists Production (Domestic)
Nam Gyuri & KyulA Man and Woman’s First
Meeting
WheesungMasterpiece of You
BrianPretty Woman (Feat.
Mario)
YeonjiWoman’s Age about
30
Standing EggLean On Me
(Feat. Park Se Young)
Lee JungTomorrow Without
You
PhantomPhantom City
Park Se YoungShall we dance
G.NA, SanchezBeautiful Day
Park Shin HyeMy Dear
SoulstarRainy Street
Crayon Pop (SoYul)Y-Shirt
Cosmic GirlDon't you worry 'bout me (feat. San-
E)
Louie(Geeks), Lee Hyun Woo
Your Face
Tiny-G
Training
GnGProduction
Geeks
Agent
HOW Ent, GrandlineEnt.
VIXX-LEO
Casting, Training
Jellyfish Ent
GAVY N J
Casting, Training
KW Ent,Good FellasEnt
OEM Music Production (Domestic)
Main Business - ② Exclusive Artist Planning & ProductionMAMAMOO
With accumulated experiences in artist & music production, RBW handles planning, PR and management of artists under exclusive contracts.
MAMAMOO is a girl group composed of 4
members, Solar, Moonbyul, Wheein and Hwasa.
Rookie of the Year’ Award, Seoul Success Awards
(2014)
‘Rookie of the Year (Girl Group) ’, the 4th Gaon Chart
K-POP Awards (2014)
Selected as ‘Top 5 Remarkable Super Rookies’ by
Billboard (2015)
8 First-Place trophies on music programs with
‘You’re The Best’ (2016)
Top 10 on 2016 Melon Music Award
‘Best Entertainer’ on 2016 Asia Artists Awards
Don’t Be Happy
2014.01.09Don’t Be Happy
Peppermint Chocolate(Feat. Whee Sung)
2014.02.11Peppermint Chocolate
Hi Hi Ha He Ho2014.05.30
Hi Hi Ha He Ho
Mr. Ambiguous2014.06.18
HELLO
Love Lane2014.07.18
Marriage Not Dating OSTPart 2
This Song2014.09.18
My Lovely Girl OST Part 1
Piano Man2014.11.21Piano Man
AHH OOP!2015.04.02AHH OOP!
SOLAR GAMSUNG Part.1
2015.10.23Lived Like a Fool
SOLAR GAMSUNG Part.2
2015.12.11Only Longing
Grows
Melting2016.02.26You’re The
Best
LG G5 & Friends OST2016.04.04Woo Hoo
SOLAR GAMSUNG Part.32016.07.12
In My Dream
MEMORY2016.11.07
Decalcomanie
6
The One – Miracle in 7 Days
- Country of Production : Vietnam, South Korea
- Broadcasting Station : Naver Xin Chao V- KHANH KHANH SHOW: one of the most
famous programs for teenagers in Vietnam. Kelvin Khanh and Duy Khanh are the hosts.
- Hat theo yeu cau: an innovative music program that suggests a slogan, “you order, we sing”
KHANH KHANH SHOW, Hat theo yeu cau
Private & ConfidentialBusiness Introduction
Main Business - ③ Overseas Broadcasting Program Planning & Production
Overseas Broadcasting Program Planning and Co-Production
RBW has developed the format of a ‘Reality Music Game Show (Format name: Re:Birth)’ containing the artist incubating
system of selecting and training foreign pre-artists, with multi-location shooting in Korea and overseas. Starting with
Indonesia, the program also has been planned, produced and aired in Vietnam. Season 2 of Vietnam and a new program in
China is in the stage of planning.
- Country of Production: Indonesia, Korea- Main Sponsor: Samsung Electronics- Broadcasting Station: Indosiar- Broadcasting Period: 2012.2.19~2012.7.1 (20Episodes) ※ Sunday Prime Time 20:00 ~ 21:00, Total of 22 Episodes
GALAXY SUPERSTAR
<Program Logo and Picture of Audition Spots>
No.1 in Ratings
- Country of Production: Vietnam, Korea- Main Sponsor: Lotte Group- Broadcasting Station: VTV3- Broadcasting Period: 2014.3.15 ~ 2014.7.1 (20 Episodes)※ Saturday Prime Time 20:00 ~ 21:00, Total of 20 Episodes
VK-POP SUPERSTAR
<Ho Chi Minh City, Hanoi – Auditions>
No.1 in Ratings
Main Business - ③ Overseas Broadcasting Program Planning & Production
- Country of Production : China, South Korea- Broadcasting Station : SOHU TV- The program that a famous singer ‘The
One’ trains normal people in 7 days
With various skills and techniques while producing the contents for domestic/international artists, RBW headquarter solely
invested and established foreign investment corporation, the special office, and broadcasting studio in Ho Chi Minh, Vietnam.
RBW Vietnam office acts as a proxy in producing NAVER V App contents. As a result, over one hundred thousand people have
watched our exclusive program “KHANH KHANH SHOW”. Also, the first episode of “Hat theo yeu cau” has been viewed by over
thirty thousand viewers.
PhotosAvailable
later
Photos available
later
7
Private & ConfidentialBusiness Introduction
Main Business - ③ Overseas Broadcasting Program - New Format Production
Overseas Broadcasting Program - New Format “RE:BIRTH PROJECT” (CHINA / THAILAND)
Asia’s first ever, new concept entertainment-music show!Project to produce a global top starBrand new format, a guarantee for high ratings and issue-makingBirth of the best idol group is approaching
12 pre-stars are divided into the ‘debut group’ and‘second group‘. A fierce competition to remain as adebut group takes place every week!
The 12 participants pair up with top stars of eachcountry and acquire stage items throughentertainment games. Afterwards, with collaborationmissions using the items, the best music stages begin.
A program that contains every aspect from a wholenew fun, the best music stages, collaboration with topstars to the tears and laughter of a reality show.
Intention of Planning
Title RE:BIRTH PROJECT
Genre Reality Music Game Show
Duration Weekly, Prime Time
Episode 14 times
New format of ‘Music + Entertainment’
New format of ‘Music + Entertainment’
Support of Top Producers
& Debut Stage
Support of Top Producers
& Debut Stage
Multi-location,Exchange of Culture
Multi-location,Exchange of Culture
Collaboration with top stars,
High ratings guaranteed
Collaboration with top stars,
High ratings guaranteed
Reality Music Game ShowReality Music Game Show
Program Features
Performance, Event Planning & Production
Based on experiences of artist and music production, RBW provides the client a customized ‘performance and event planning & production’. With top producing personnel and professionals of Korea, we have accumulated experiences in producing broadcasting programs and exclusive artists. RBW would be able to satisfy clients by offering effective online events and performance planning & production with a wide range of experiences.
Cases in KoreaCases in KoreaConcerts & Fan meetings of Korean/Foreign Artists
Various Corporate Events
Exhibitions Local/College Festivals
Cases OverseasCases OverseasT-ARA’s Fan meeting in Vietnam (2016)
BTS’s Performance in Vietnam (2016)
Basick’s Performance in Vietnam (2016)
4MINUTE’s Performance in Indonesia (2012)
Main Business - ④ Performance, Event Planning & Production
8
Private & ConfidentialBusiness Introduction
9
Skillful Instructor groups and RBW’s unique training techniques
Main Business ⑤ K-POP Educational Training Program _Dream Withus(B2C)
< Analysis > < Recording Training >
< Artist Lecture >
< Producer Lecture >
< Dance Training >
< Style Consulting >
< Stage Training > < MIDI Lecture >
< Vocal Training >
< Lyrics Lecture >
< Tour> < Performance>
This program is held in RBW Global Training Center (2,312㎡) with one-week course. Participants can experience high-quality and professional training programs with skillful K-POP producers, directors, and instructors. Also, outstanding participants will have an opportunity to have RBW audition. Stage videos will be edited and provided to all participants. In addition, special tour during the schedule will fully satisfy the participants by experiencing fantastic moment in various places of South Korea.
K-POP Educational Training Program “Dream Withus”
“Dream Withus” is an unique program of RBW for people who visit South Korea and who have a dream to become singers, dancers, and entertainers. The program offers a valuable chance to experience the process of becoming K-POP artists from casting to debut.
Skillful and competent
instructors who have
trained several famous K-POP
artists
Curriculum and practicing places
are same as artists’
‘Dream Withus’ with international
members in
same dream
Dream
With
Us
<Taiwan Participants>
<VietnamParticipants>
<China Participants>
<USA Participants><Dream Withus 3 Keywords>
Main Business ⑤ K-POP Educational Training Program _Dream Withus(B2C)
Private & ConfidentialBusiness Introduction
10
RBW Core Competencies
RBW’s 4 Core Competencies
To make an artist’s talent shine more brightly
RBW Artist Incubating System
A systemized artist training program
and casting network based on years
of OEM/ODM production of
Korean/foreign artists
RBW operates an integrated artist
training program including vocal,
dance, styling, stage performance and
language skills.
Best infrastructure, a foundation of growth for talents
RBW Global Training Center
The global training center(2,314 m2)
contains facilities needed from
recording studios, dance training
rooms, ensemble room, fitness room
to dormitories for effective
production of Korean/foreign artists.
In addition, producers, scriptwriter,
director, trainer and A&R experts are
available at all times.
In-house top producers, monopoly of copyright for hit songs
RBW Music Producing System
We operate an effective non-stop
producing system(planning,
development, production) with top
in-house producers including Kim
Do Hoon, Chief Executive Producer.
With songwriters of famous K-POP
songs for CNBLUE, Baek Ji Young,
Ailee, Wheesung etc. affiliated with
the company, the right to use the
songs is secured in advance.
Wide range of K-POP star-casting abilities
RBW Agency Network
RBW has established a wide network
with various artists/agencies in Korea
and overseas through projects and
collaborations.
Casting of judges, mentors and guest
appearances of K-POP stars essential
for an audition program is easier with
RBW. Also, we possess a pool of
composers, arrangers and musicians
who guarantee the quality of music in
broadcasting programs.
Private & ConfidentialLicense
11
License
No. Category Description
40-2015-0087912 Trademark Registration ‘MAMAMOO’ Light Stick and Related Products (Code 28)
40-2015-0087913 Trademark Registration MAMAMOO Light Stick and Related Products (Code 28)
40-2015-0087916 Trademark Registration MAMAMOO (Logo) Light Stick and Related Products (Code 28)
40-2015-0075779 Trademark Registration ‘MAMAMOO’ Cosmetics and Related Products (Code 3)
40-2015-0075834 Trademark Registration MAMAMOO (Logo) Cosmetics and Related Products (Code 3)
40-2015-0075835 Trademark Registration MAMAMOO (Logo) Glasses and Related Products (Code 9)
40-2015-0075838 Trademark Registration MAMAMOO (Logo) Stationary and Related Products (Code 16)
40-2015-0075840 Trademark Registration MAMAMOO (Logo) Bag and Related Products (Code 18)
40-2015-0075850 Trademark Registration MAMAMOO (Logo) Clothes and Related Products (Code 25)
40-2015-0075842 Trademark Registration MAMAMOO (Logo) Head Accessories and Related Products (Code 26)
40-2015-0075837 Trademark Registration MAMAMOO (Logo) Jewelry Accessories and Related Products (Code 14)
40-2015-0075830 Trademark Registration MAMAMOO Head Accessories and Related Products (Code 26)
40-2015-0075828 Trademark Registration MAMAMOO Clothes and Related Products (Code 25)
40-2015-0075826 Trademark Registration MAMAMOO Bag and Related Products (Code 18)
40-2015-0075825 Trademark Registration MAMAMOO Stationary and Related Products (Code 16)
40-2015-0075823 Trademark Registration MAMAMOO Jewelry Accessories and Related Products (Code 14)
40-2015-0075804 Trademark Registration MAMAMOO Glasses and Related Products (Code 09)
40-2015-0075801 Trademark Registration MAMAMOO Cosmetics and Related Products (Code 03)
40-2015-0075799 Trademark Registration ‘MAMAMOO’ Head Accessories and Related Products (Code 26)
40-2015-0075795 Trademark Registration ‘MAMAMOO’ Clothes and Related Products (Code 25)
40-2015-0075793 Trademark Registration ‘MAMAMOO’ Bag and Related Products (Code 18))
40-2015-0075789 Trademark Registration ‘MAMAMOO’ Stationary and Related Products (Code 16)
40-2015-0075784 Trademark Registration ‘MAMAMOO’ Jewelry Accessories and Related Products (Code 14)
40-2015-0075782 Trademark Registration ‘MAMAMOO’ Glasses and Related Products (Code 09)
41-2015-0049069 Trademark Registration MAMAMOO Performance Rights and Related Products (Code 41)
41-2015-0049068 Trademark Registration MAMAMOO Cosmetics Wholesale Business and Related Products (Code 35)
41-2015-0049055 Trademark Registration ‘MAMAMOO’ Performance Rights and Related Products (Code 41)
41-2015-0049072 Trademark Registration MAMAMOO (Logo) Cosmetics Wholesale Business and Related Products (Code 35)
41-2015-0049084 Trademark Registration MAMAMOO (Logo) Performance Rights and Related Products (Code 41)
41-2015-0049054 Trademark Registration ‘MAMAMOO’ Cosmetics Wholesale Business and Related Products (Code 35)
Technological Differentiation – Exclusive Right of contents (Artists, Music) and related patents and trademarksPatent – 12 Patent Application total and 7 Registered Patent total in the company
Private & ConfidentialCapacity
Capacity
Korea Headquarter Office: located in Dongdaemun-gu, Seoul (2,312㎡). Includes training center, office, recording studioVietnam Branch Office: Established in Thành phố Hồ Chí Minh on March 2016. Provides various broadcasting/music/performance/concert contents via NAVER V App
12
< Main Entrance > < Interior > < Office Area > < Styling Room >
< Recording Studio 1 >< Recording Studio 2 > < Dance Practice Room >< Producer’s Studio >
< Conference Room >
<Individual Practice Rooms>
< Cafe >< Performance Stage > < Recording Studio >< Studio > < Dance Practice Room>
B1
1F
<Korea Headquarter Office>
<Vietnam Branch Office>
< Company View >
Private & ConfidentialMarket
Production of OEM Artists & Contents: Even though there were several cases of K-POP artists’ global expansion, it is hard to find the similar business to RBW’s unique OEM artist & content production system in the global market. It is highly expected that RBW can develop and advance their businesses globally (China, Indonesia, Vietnam) and earn nearly 5~10 billion won per year.Many K-POP producers (composers and lyricists) have recently worked in J-POP market. Many contents can be provided to the market by utilizing RBW's unique content producing system. It is highly expected that our company's technologies and know-hows would be helpful for developing the related business (Artist casting, training, music and album production) and exporting the contents or systems to other markets.
The popularity of the business item: The music market of Japan is very similar to K-POP market; many idol groups are being debuted and trained in both markets. It is expected that the similarity of both markets would be helpful for minimizing costs (Time, money) of the business.
Markets
Localization strategies
Characteristics of the local market and various
strategies
RBWOEM
SYSTEM
The most outstanding producing team in South Korea.
RBW's unique and exclusive artist incubating system from
casting to debut
excellent contents of
J-POP market
Ability to develop and expand the business by utilizing the
advantages of the leading company
13
Private & ConfidentialFinancial Figures
Categories2013
Unaudited
2014
Unaudited
2015
Audited
Sales 825 2,231 5,248
Sales Cost - - -
(The rate of Sales Cost) - - -
Gross Margin 825 2,231 5,248
Selling and Administrative Expenses
631 2,104 4,515
depreciation cost 0 0 0
Operating Profit 194 126 733
The Rate of Operating Profits (%)
23.5% 5.6% 14%
Net Profit During the Term 170 181 424
R&D 0 71 110
R&D compared to Sales (%) 0% 3.2% 2.1%
EBITDA 194 126 969
Total Capital 353 2,391 10,199
Total Liabilities 133 1,734 1,980
Net Property 220 657 8220
Debt Ratio 60.7% 246.5% 24.1%
(million won)
Total sales of 10.6 billion won in 2016 (Audited): Total sales of 2015 is 1.7 billion won, which were a 100% rise from 2014’s total sales. The stable growth of total sales and net profit during the term: the net profit and total sales has been increased from 2013 to 2016.Diversification of sales: Different from other entertainment companies that focus on their artists, big part of sales of RBW, Inc. comes from various businesses including OEM/ODM content & artist production, educational business, and broadcasting production.
14
Financial Records in the last three years