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Screenshot of a breaking news alert e-mail from Q2 2017
GMO Click Holdings, Japan’s major margin Forex trading broker, will debut on the Tokyo Stock Exchange’s Jasdaq market next spring. GMO Click Holdings is a 100% subsidiary of GMO Internet, a Japanese Internet service provider listed in the TSE’s first section, and it has two foreign exchange trading firms in its group — FX Prime by GMO and GMO Click Securities — until today’s consolidation…
As part of the move, it was reported today that GMO Click Holdings executed a stock swap agreement to make FX Prime by GMO a wholly owned subsidiary. GMO Click Holdings acquired 76% equity of FX Prime by GMO from Itochu and others for roughly 2.5 billion yen ($22.7 million) in 2012.
The reported aim of making FX Prime by GMO a wholly owned subsidiary is to make it easier for GMO Click Holding’s management to make decisions for accelerated business expansion. If GMO Click Holdings does indeed go public, GMO Internet is expected to retain and control more than 90% of the outstanding shares of it’s Forex trading subsidiary.
Source: Nikkei Asian Review