Latest Tokyo Brief coverage on MIXI, Inc., tracking filings, financial news, and market signals from Japan.
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SBI Holdings made crypto exchange bitbank a wholly owned subsidiary on October 1 after the exchange repurchased shares from MIXI and Ceres, with Ceres reporting ¥8.61bn for its 21,480 shares and about ¥5.7bn in expected special gains.
GREE will first spin the operating business of GREE LP Fund JP2 into a new company, GREE Fund Investments, then sell all of that unit to MIXI on July 31 for about ¥17mn while transferring part of a separate LP stake for about ¥300mn. The carved-out package includes ¥66mn of assets and ¥50mn of liabilities, and GREE says its capital ratio in the fund will fall from 45.9% to 26.7%, ending its execution authority if the deal closes as planned. MIXI says the ¥5.455bn vehicle is expected to become a specified subsidiary, with the new manager due to be renamed MIXI Capital Management and the fund due to be renamed MIXI LP Fund 1. The exact LP slice moving from GREE Capital Management is still not separately disclosed, but the broad point is plain enough: GREE is stepping back from control and MIXI is taking it.