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Wedge HD made several announcements including new business direction and capital increase
Wedge Holdings Co., Ltd. (Wedge HD), a member company of Asia Partnership Fund (APF Group), made several announcements in mid March 2009.
During the company briefing session with individual investors on March 15, Wedge HD made an announcement regarding its new business direction placing more emphasis on business in South East Asian market. The plan is to expand businesses through investment with focus on cooperation with APF Group. Before that, Wedge HD made several announcements: divestiture of a subsidiary in movie business--a non-core business of Wedge HD; a new investment expansion in South East Asia; a business and capital alliance with Apple International Co., Ltd. (a company listed on Mothers Section of Tokyo Stock Exchange) which is expanding into South East Asia; and a capital increase of approximately 700 million yen. The capital increase will be done through private placement. APF Group and Apple International will be subscribers. The aim of Wedge HD is to expand business of its subsidiary--Group Lease, a Thai finance company. The basic agreement is reached regarding a business and capital alliance with Apple International Co., Ltd. which is also doing business in Thailand.
Moreover, based on the announcements, on March 9 Wedge HD made an upward revision of its performance forecast. As a result the company's stocks rose to limit high for 5 consecutive business days after March 9. The upward revision was rapidly accepted by the stock market.
For more information, please see the website below. (Japanese)
http://www.wedge-hd.com/IR/irnews/2010.html
During the company briefing session with individual investors on March 15, Wedge HD made an announcement regarding its new business direction placing more emphasis on business in South East Asian market. The plan is to expand businesses through investment with focus on cooperation with APF Group. Before that, Wedge HD made several announcements: divestiture of a subsidiary in movie business--a non-core business of Wedge HD; a new investment expansion in South East Asia; a business and capital alliance with Apple International Co., Ltd. (a company listed on Mothers Section of Tokyo Stock Exchange) which is expanding into South East Asia; and a capital increase of approximately 700 million yen. The capital increase will be done through private placement. APF Group and Apple International will be subscribers. The aim of Wedge HD is to expand business of its subsidiary--Group Lease, a Thai finance company. The basic agreement is reached regarding a business and capital alliance with Apple International Co., Ltd. which is also doing business in Thailand.
Moreover, based on the announcements, on March 9 Wedge HD made an upward revision of its performance forecast. As a result the company's stocks rose to limit high for 5 consecutive business days after March 9. The upward revision was rapidly accepted by the stock market.
For more information, please see the website below. (Japanese)
http://www.wedge-hd.com/IR/irnews/2010.html
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