Seeking to extend its "overseas market share" reach in Europe, Japanese publisher and developer Capcom has announced the establishment of a wholly owned subsidiary in France, adding onto its existing subsidiaries in England and Germany. Established with €37,000 (approximately $58,700) in capital, the new division will be headed by Capcom U.S. and Europe president and CEO Hiroshi Tobisawa, focusing on local marketing and software sales. The company does not expect the new subsidiary, Capcom Entertainment France, to have a significant initial impact on its results, but is obviously positioning itself for long-term growth across Europe's multiple markets. Said Capcom in its statement, "In particular, Capcom is interested in increasing its market share in Europe, which has seen growth recently. Capcom will improve profitability and strengthen its local marketing organization by establishing direct sales organization."