ecash corp to Sell Subsidiaries; Amends Consolidated Full-year Outlook for FY 2012

ecash corp announced that it has decided to sell all its holding 14.8% stake in a Japan-based company, 100% stake in a subsidiary and 50.1% stake in another subsidiary, for JPY 1,260,000, JPY 100 and JPY 102,510 respectively, effective March 30, 2012. In addition, the Company and also lowered its consolidated full-year outlook for revenue from JPY 380 million to JPY 320 million, net profit from a loss of JPY 77 million to a loss of JPY 242 million and earning per share from a loss of JPY 1,180.31 to a loss of JPY 3,709.55, but maintained the outlook for operating profit of a loss of JPY 65 million and ordinary profit of a loss of JPY 65 million, for the fiscal year ending March 2012. The Company lowered the outlook due to the expected record of extraordinary loss on reorganization of subsidiaries.