Japan Football League team New Wave Kitakyushu has formed a joint stock corporation to conduct team operations. The objective is to formally organize a structure for local business and support groups to back the team and boost spectator totals. Nine local companies and groups provide financial support to the team, including Toto and Yaskawa Electric. The company’s capitalization is expected to be increased to more than 100 million yen by next January. The club had been operated by a non-profit organization.