Oshidori International Holdings Limited, the parent company of Nagasaki IR contender Oshidori International Development Ltd, has issued a positive profit alert on expected profit of HK$2.34 billion (US$302 million) for the year ended 31 December 2020.
The Hong Kong-based firm operates in securities trading, financing services, and credit and lending services. It is also looking to invest in Japan’s burgeoning integrated resort industry as one of seven bidders to develop an IR in Nagasaki, having last year announced the appointment of former MGM Resorts boss Alex Yemenidjian to lead its Japan efforts. A new Chief Operating Officer, Keigo Nakatani, was appointed only last week tasked with further promoting the company’s bid to develop an integrated resort in Nagasaki.
In a Wednesday filing, Oshidori International Holdings Limited said it expects to record an unaudited consolidated profit of HK$2.34 billion for 2020 compared with a consolidated loss of HK$360 million (US$46.5 million) for the year ended 31 December 2019.
The company attributed the reversal to a range of factors but specifically noted progressively improved operating performance in its financial services segment and its credit and lending services segment.
“The Board is confident that the solid growth of these operating segments manifests sufficient operation as well as the sustainable development of the Group,” Oshidori said.