An unknown buyer acquired FVC Americas, LLC from Future Venture Capital Co., Ltd..
September 29, 2019
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An unknown buyer acquired FVC Americas, LLC from Future Venture Capital Co., Ltd. (JASDAQ:8462) on September 30, 2019. Under the terms, the consideration was nil. Future Venture Capital Co., Ltd. will sell 100% of its stake in FVC Americas. For the year ending March 2019, FVC Americas' had net assets worth ¥1 million, total assets worth ¥2 million, sales of ¥2 million, net income of approximately ¥15 million and operating income of approximately ¥15 million.
An unknown buyer completed the acquisition of FVC Americas, LLC from Future Venture Capital Co., Ltd. (JASDAQ:8462) on September 30, 2019. As a result of this share transfer, an extraordinary loss of ¥6 million (due to the realization of unrealized valuation loss on foreign currency translation adjustment) is expected to be recorded in the consolidated financial statements of Future Venture Capital Co., Ltd. for the first half of the fiscal year ending March 2020.
Future Venture Capital Co., Ltd. is a Japan-based company mainly engaged in the venture capital business. The Company operates businesses in Japan and Colorado, United Stated. Venture Capital business is engaged in the investment and investment advices services to venture companies, the composition, management and operation of investment partnerships, and the selection and development of investment destinations. The Company also addresses other revenue opportunities associated with those activities.