GMO Internet Inc. (TYO:9449) today announces that it expects to record an extraordinary profit in the three-month period to end-December 2020.

The company anticipates to book an extraordinary profit of approximately JPY 6.7 billion related to the sales of investment securities (non-listed) held by the company.

GMO Internet notes that it is closely assessing the impact that this extraordinary profit and other factors will have on the actual financial results for the fiscal year 2020.

Let’s note that, for the nine months ended September 30, 2020, the Group recorded net sales of ¥157,311 million (up 7.0% year-on-year), operating profit of ¥22,518 million (up 13.0% year-on-year), ordinary profit of ¥21,903 million (up 13.5% year-on-year) and net profit attributable to owners of the parent of ¥6,741 million (up 1.9% year-on-year).

During the first nine months of 2020, GMO’s Internet Infrastructure segment showed favorable growth in e-commerce solutions, payment and provider as expansion of stay-at-home consumption and online consumption continued.

In the Internet Finance segment, a low spread strategy in OTC FX aimed at expansion of domestic shares contributed to an increase in transaction volume, but net sales decreased. On the other hand, CFD posted an increase in trading profit due to a significant increase in net sales against a backdrop of an increase in volatility in commodity future market and stock price index and a strong growth of customer base.

In the Cryptoassets segment, while the Cryptoassets exchange business showed strong performance with an increase in altcoin transactions, profitability of the Cryptoassets mining business decreased due to a Bitcoin halving event despite a progress in the business restructuring process.