ST. PETER PORT, Guernsey,
November 10, 2017 /PRNewswire/ --
Prospect Co., Ltd (the "Company") hereby announces the
recognition of extraordinary gain (gain on bargain purchase) on a
consolidated basis in the Second Quarter of fiscal year ended
March 31, 2018 as follows.
1. Details of Extraordinary Gain (Gain on Bargain Purchase)
The Scheme of Arrangement for all-share offer therefore came
into effect on July 27, 2017, whereby
the Company acquired the entire issued share capital of The
Prospect Japan Fund Limited ("TPJF") and TPJF became a wholly-owned
subsidiary of the Company. Associated with this, the gain on
bargain purchase of 2,420 million yen
is posted as extraordinary gain in the Second Quarter of fiscal
year ended March 31, 2018. Further,
this gain on bargain purchase is a temporary estimate subject to
changes as the purchase price of the TPJF share has not been
finalized currently.
2. Impact on the Company's Financial Results
Extraordinary gain written above is already incorporated on
Second Quarter Brief Report of Financial Results the fiscal year
ended March 31, 2018 (Consolidated)
published on November 10, 2017.
Media Contact:
Company Name: Prospect Co., Ltd.
Representative: President and CEO Curtis
Freeze
(Security Code: 3528 TSE 2nd Section)
Contact:
Representative Director
Masato Tabata
TEL: 03-3470-8411
SOURCE The Prospect Japan Fund Ltd