INV Inc, a company operating Australia-based ASIC-licensed prime services provider 26 Degrees Global Markets, underwent delisting from the Tokyo Stock Exchange. Here’s what led to this development:
INV Inc primarily operates 26 Degrees Global Markets, formerly known as Invast Global, contributing significantly to its revenue. Additionally, the company manages Japanese businesses including online brokerage Invast Securities and Invast Capital Management Co.
At the time of delisting, INV Inc’s market capitalization stood at JPY 7.03B (USD $46 million). The delisting was attributed to the company’s implementation of a reverse stock split, resulting in shareholders holding less than one share each.
During the general shareholders meeting in late March, shareholders approved the agenda item concerning the reverse stock split.
Financially, for the nine months ending December 31, 2023, INV Inc reported revenues of JPY 4.976B (USD $32 million), marking an 11% increase from the previous year. For the full fiscal year 2023, the company reported revenues of JPY 6.005B (USD $39 million) and a net profit of JPY 199M ($1 million).
Takeshi Kawaji serves as the President & CEO of INV Inc, also holding a directorship at 26 Degrees. Gavin White, the CEO of 26 Degrees, previously served as a director at INV Inc until 2023.
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