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Full Speed Inc Expects Extraordinary Loss for Q2 of FY 2013; Amends Consolidated Full-year Forecast for FY 2013; to Issue New Shares; FreeBit Co.,Ltd to Acquire Shares of Full Speed Inc


Friday, 7 Dec 2012 01:00am EST 

Full Speed Inc announced that it expects JPY 734 million extraordinary loss on provision of allowance for doubtful accounts for the second quarter of the fiscal year ending April 2013. The Company has affirmed the consolidated full-year forecast for revenue of JPY 11,000 million, operating profit of JPY 700 million, ordinary profit of JPY 640 million and lowered the forecast for net profit (loss) from JPY 490 million to JPY (250 million) and earning (loss) per share from JPY 3,331.07 to JPY (1,699.52) for the fiscal year ending April 30, 2013. The Company has decided to issue 5,200 shares at the price of JPY 19,150 per share, or JPY 99,580,000 in total, to FreeBit Co.,Ltd, through private placement on December 26, 2012. FreeBit Co.,Ltd. has decided to acquire up to 15,000 shares (10.2% stake), or up to JPY 350 million of Full Speed, during the period from December 11, 2012 to June 10, 2013. 

Company Quote

714.0
-54.0 -7.03%
2:00am EDT