Key Developments: BIC Camera Inc (3048.T)
43,300JPY
23 May 2013
¥-500 (-1.14%)
¥43,450
¥43,950
¥44,050
¥43,200
7,095
5,148
¥46,900
¥37,100
Latest Key Developments (Source: Significant Developments)
BIC CAMERA INC Cancels Franchise Contract with Joint Venture
BIC CAMERA INC announced that it has decided to cancel the franchise contract with a joint venture between the Company and Best Denki Co Ltd, effective May 31, 2013, along with the cancellation of business and capital alliance of the Company and Best Denki Co Ltd on March 31, 2013. Full Article
Best Denki Co Ltd to Dissolve Joint Venture with BIC CAMERA INC
Best Denki Co Ltd announced that it will dissolve a joint venture established with BIC CAMERA INC. The joint venture has been engaged in the retail of household electric appliances in Fukuoka. Best Denki and BIC CAMERA INC currently hold a 90% stake and a 10% stake in the joint venture respectively. The liquidation will be completed in September 2013. Full Article
BIC CAMERA INC Lowers Full-year Consolidated Outlook for FY 2013
BIC CAMERA INC announced that it has lowered its full-year consolidated outlook for revenue from JPY 840,000 million to JPY 810,000 million, operating profit from JPY 14,000 million to JPY 9,000 million, ordinary profit from JPY 15,000 million to JPY 9,000 million, net profit from JPY 7,300 million to JPY 1,000 million, and earnings per share from JPY 4,250.22 to JPY 582.22, for the fiscal year ending August 31, 2013. The Company lowered its full-year consolidated outlook mainly due to the influence by its mid-year outlook and delay in market revival. Full Article
BIC CAMERA INC Lowers Consolidated Mid-year Outlook for FY 2013
BIC CAMERA INC announced that it has lowered its consolidated mid-year outlook for revenue from JPY 417,000 million to JPY 399,600 million, operating profit from JPY 5,000 million to JPY 4,220 million, ordinary profit from JPY 5,500 million to JPY 4,020 million, net profit from JPY 2,600 million to a loss of JPY 1,080 million and earning per share from JPY 1,513.78 to a loss of JPY 628.80, for the fiscal year ending August 2013. The Company lowered the outlook due to the record of revaluation loss of investment securities and the decreased demands. Full Article
Best Denki Co Ltd to Cancel Business and Capital Alliance with BIC CAMERA INC
Best Denki Co Ltd announced that it has decided to cancel the business and capital alliance with BIC CAMERA INC, which was formed on September 20, 2007. The business and capital alliance will be canceled effective March 31, 2013. Full Article
Seed Co Ltd to Acquire Property from BIC CAMERA INC
Seed Co Ltd announced that it has decided to acquire a property located in Saitama, Japan, for JPY 553 million from BIC CAMERA INC on March 27, 2013. Full Article
BIC CAMERA INC Announces Extraordinary Loss for Q2 of FY 2013
BIC CAMERA INC announced that it will record a JPY 2,495 million extraordinary loss on the revaluation of investment securities, for the second quarter of the fiscal year ending August 2013. Full Article
BIC CAMERA INC Decreases Voting Rights of Best Denki Co Ltd
Best Denki Co Ltd announced that it has completed the issue of 80,265,500 new shares of its common stock at the price of JPY 151 per share or JPY 12,120,090,500 in total, to Yamada Denki Co Ltd through a private placement, effective December 13, 2012. As a result, Yamada Denki has become parent company of Best Denki with 51.16% voting rights, up from 7.49%, while BIC CAMERA INC. ha become the second major shareholder of Best Denki with 7.98% voting rights, down from 15.12%, effective December 13, 2012. Full Article
BIC CAMERA INC Lowers Consolidated Full-year Forecast for FY 2012
BIC CAMERA INC announced that it has lowered the consolidated full-year forecast for revenue from JPY 530,000 million to JPY 518,000 million, operating profit from JPY 9,000 million to JPY 4,070 million, ordinary profit from JPY 11,000 million to JPY 6,170 million, net profit from JPY 7,000 million to JPY 4,000 million and earning per share from JPY 4,075.55 to JPY 2,328.89 for the fiscal year ended August 31, 2012. The Company lowered the consolidated full-year outlook due to the downturn in economy and the aggravated order environment. Full Article
BIC CAMERA INC Announces Officer Changes
BIC CAMERA INC announced it has appointed Ryuji Arai as new Chairman of the Company, effective September 1, 2012. Full Article
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