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Screenshot of a breaking news alert e-mail from Q2 2017
GMO Internet Inc. (TYO:9449) today sold a part of its holdings in its securities trading subsidiary, GMO Click Holdings Inc (TYO:7177), in an off-exchange sale that had the aim to improve liquidity. As a result, GMO Internet expects to report a profit on the sale of shares in an affiliated company.
According to the estimates:
- (Consolidated) Gain on Sale of Shares in Affiliated Company: JPY 4.7 billion ($38 million);
- (Non-Consolidated) Gain on Sale of Shares in Affiliated Company: JPY 5.3 billion ($42.8 million).
After the sale, GMO Internet holds 93.9% of voting rights in GMO CLICK Holdings, which compares with 98.4% prior to the sale.
The above sale amount will be reported as extraordinary profit in the company’s books for the second quarter of its 2015 fiscal year. GMO is also evaluating the guidance for the current fiscal year and will revise its forecast if necessary.
To view the official press release by GMO Internet on the share sale, click here.