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GMO Internet Inc. Raises Consolidated Full-year Forecast for FY 2012; Subsidiary to Launch Takeover Bid for Shares of FX PRIME Corporation

Wednesday, 1 Aug 2012 02:30am EDT 

GMO Internet Inc. announced that it has raised the consolidated full-year forecast for revenue from JPY 64,000 million to JPY 68,000 million, operating profit from JPY 8,400 million to JPY 9,000 million, ordinary profit from JPY 8,200 million to JPY 8,900 million, net profit from JPY 4,300 million to JPY 4,400 million and earning per share from JPY 36.50 to JPY 37.34 for the fiscal year ending December 31, 2012. GMO Internet Inc. raised the consolidated full-year forecast due to favorable business performance. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of JPY 68.17 billion and net profit of JPY 4.21 billion for the fiscal year ending December 2012. GMO Internet Inc.'s subsidiary, GMO CLICK Holdings, Inc., has decided to launch a takeover bid for 8,099,910 shares (at least 4,568,500 shares) of FX PRIME Corporation, at the price of JPY 410 per share, during the period from August 2, 2012 to September 12, 2012. The payment will be conducted on September 20, 2012. If GMO CLICK Holdings acquires 8,099,910 shares of FX PRIME Corporation, it will hold a 100% stake in FX PRIME Corporation. 

Company Quote

24.0 +2.06%
2:00am EDT