Sale of A1 Investments Japan for $11,366?

1. Great Voyage

In September 2015 the company’s subsidiary A1 Investments Japan Co., Limited acquired 100% of Great Voyage Co Limited ('Great Voyage') for $682,000 by way of cash transfer. Great Voyage is a company primarily engaged in transport advertising within Tokyo. The purchase of Great Voyage was opportunist as the company had significant potential to be expanded into other Japanese cities and indeed further, using the current model.
Great Voyage has provided revenue in its first 4 months of operations within the group in accordance with its target and we expect the full year revenue to be met and a net profit of A$200,000 to 30 June 2016.
The consolidated entity is examining how we can support the further expansion of Great Voyage in 2016.
A1 Japan is examining other investment opportunities within the Japanese domestic market and we are targeting at least one further acquisition in 2016.

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