GEO HOLDINGS CORPORATION [2681.T]
TOKYO, Mar 27 (Pulse News Wire) – GEO Holdings Corporation (2681.T) announced today that its subsidiary, 2nd STREET (THAILAND) Company Limited, will undergo a capital increase of approximately ¥480 million Thai baht (about $13.8 million). Following this, According to the company's statement, the capital increase aims to strengthen the group’s operational foundation in Thailand.
After the increase, the subsidiary's capital will amount to ¥500 million Thai baht (approximately $14.1 million), making up more than 10% of GEO Holdings' own capital. As a result, 2nd STREET (THAILAND) Company Limited will qualify as a significant subsidiary of GEO Holdings.
Financial highlights of the subsidiary for the last three fiscal years (unit: thousand Thai baht): | Fiscal Year | Net Assets | Total Assets | Revenue | Operating Profit | Net Income | |-------------|-----------|-------------|---------|-----------------|------------| | 2023 | - | - | - | - | 6,708 | | 2024 | - | 58,674 | 38,446 | - | 18,280 | | 2025 | 44,988 | 145,192 | - | - | | The capital increase is scheduled to take place in May 2026. The company expects the impact on the consolidated performance of the current fiscal year to be minor.
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