Wednesday, October 29, 2008

[News] Keyeast makes profit in 3rd quarter

congratulations to KeyEast!

[KEYEAST] Keyeast makes profit in 3rd quarter

The Asian media and content company Keyeast Co., Ltd. ( has officially announced that it has earned its first quarterly profits since its establishment. Its third quarter sales figure was 912,000,000 Korean Won and the net income totaled 601,000,000 Korean Won, which represents an 88.3% increase in net income as compared with the corresponding July to September period of last year.

One of the main factors behind Keyeast Co., Ltd.'s profitable quarter is the equity method accounting of the business profits of Keyeast Co., Ltd.'s subsidiary, BOF International Inc. Keyeast Co., Ltd. holds 62% of the shares of BOF International Inc.

A member of Keyeast Co., Ltd. stated that "the purpose of establishing a subsidiary in Japan was to set up a profitable bridgehead in a foreign market and that this objective has been achieved." He also stated that "BOF International Inc. and Keyeast Co., Ltd. significantly contributed to the Asian wave." In addition, he said that "during this current global financial crisis, the sales of Keyeast Co., Ltd. have been positively affected by the gains on foreign exchange obtained through BOF International Inc. and that these gains will likely continue for the time being."


No comments: