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KADOKAWA CORPORATION Completes Sale of Stake in Companies by Subsidiary and Sub-subsidiary; Expects Extraordinary Profit for Q2 of FY 2014

Thursday, 15 Aug 2013 09:00pm EDT 

KADOKAWA CORPORATION announced that its wholly owned subsidiary Kadokawa Holdings Asia Limited has completed the sale of a 70% stake in Kadokawa Intercontinental Group Holdings Limited to eSun Holdings Limited, and Kadokawa Intercontinental Group Holdings Limited has completed the sale of a 100% stake in Intercontinental Development and Services Limited to Lai Sun Development Company Limited, on August 15, 2013. As a result, the Company expects the extraordinary profit of approximately JPY 2.5 billion for gain on sale of stake, for the second quarter of the fiscal year ending March 2014. 

Company Quote

-12.0 -0.41%
8:37pm EDT