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Aucnet, Inc. ( (JP:3964) ) has shared an announcement.
Aucnet, Inc. announced the recognition of an impairment loss on goodwill and a loss on valuation of shares of subsidiaries and associates for the third quarter of the fiscal year ending December 31, 2025. These financial adjustments are due to underperformance at JOYLAB, inc., a subsidiary acquired in April 2024, which led to a significant decline in the fair value of its shares. While these losses impact the non-consolidated financial results, they will be eliminated in consolidation, thus having no effect on the consolidated financial results. The company has also revised its forecast for consolidated results and dividends for the fiscal year.
More about Aucnet, Inc.
Aucnet, Inc. operates in the auction industry, focusing on providing online auction services. The company is listed on the Prime Market of the Tokyo Stock Exchange and is known for its innovative approach to auctioning, leveraging technology to enhance market accessibility and efficiency.
Average Trading Volume: 94,403
Technical Sentiment Signal: Buy
Current Market Cap: Yen92.6B
Learn more about 3964 stock on TipRanks’ Stock Analysis page.