GMO internet, Inc.
Notice Regarding Withdrawal from Digital Asset Business of Consolidated Subsidiary in Thailand
GMO Internet, Inc. has resolved to withdraw from the digital asset business of its consolidated subsidiary in Thailand, GMO-Z.com Cryptonomics (Thailand) Co., Ltd. There is a possibility of a bad debt loss of approximately 1 billion yen on loans in the standalone financials, but it is expected to be eliminated in the consolidated financial statements.
Key Figures
- Loans: Approximately 1 billion yen (loan to Thai subsidiary)
- Thailand Subsidiary Revenue: 11,024,034.39 THB (approx. 50,379,837 yen) Fiscal Year Ending December 2025
- Thailand Subsidiary Net Loss: △87,553,692.58 THB (approx. △400,120,375 yen) Fiscal Year Ending December 2025
AI要約
Overview of Business Withdrawal
GMO Internet, Inc. has resolved to withdraw from the digital asset business of its consolidated subsidiary in Thailand, GMO-Z.com Cryptonomics (Thailand) Co., Ltd. The method of withdrawal will be either a transfer of all shares of the Thai subsidiary or business discontinuation, dissolution, and liquidation. After the parent company, GMO Internet Group, acquired shares of 11 companies including the Thai subsidiary in March 2025, the business portfolio was reorganized, and taking into account the market environment of digital assets in Thailand, the withdrawal decision was made.
Future Outlook and Impact
The resolution was made at the Board of Directors meeting on March 18, 2026, and the specific business discontinuation date and share transfer date will be determined through negotiations with the buyer. The impact of this business withdrawal on the consolidated performance for the fiscal year ending December 2026 is expected to be minimal. However, regarding the loan of approximately 1 billion yen from the Company to the Thai subsidiary, there is a possibility of bad debt loss occurring in the standalone financial statements, but it is expected to be eliminated in the consolidated financial statements.
