GMO internet group, Inc. [9449.T]
TOKYO, May 15 (Pulse News Wire) – GMO Internet Group,inc. (9449.T) announced today that its board of directors resolved to dissolve its subsidiary, GMO-Z.com Trust Company, Inc., effective immediately.
As a result, the company expects to report a special loss of May 15, 2026 related to the evaluation of associated company shares in its individual financial statements for the fiscal year ending December 2026. Established in December 2020 with approval from the New York State Department of Financial Services, GMO-Z.com Trust focused on issuing and managing stablecoins linked to the Japanese yen and US dollar across multiple blockchain networks. Following the acquisition of technical expertise, the company decided to dissolve the US entity to focus on future domestic operations.
The special loss will be recognized in the second quarter of the fiscal year ending December 2026. However, due to the wash method used for securities valuation, there could be fluctuations in the amount recorded in the fourth quarter based on stock price conditions. Notably, this loss will be eliminated in consolidated financial results, thus having a minor impact on overall performance.
Going forward, GMO Internet Group will continue to monitor developments and disclose any further significant matters promptly.
🟢 Confidence: High AI-translated content.