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Japan's kabu.com Securities warns of 30.9% drop in June quarter net income

Kabu.comSecurities Co. Ltd. expects net income for the June quarter to drop30.9% year over year.

The Japanese online stock trading platform provider said in aJuly 19 statement that it estimates net profit for the first three months ofthe fiscal year, which began in April, to fall to ¥1.86 billion from ¥2.69billion in the year-ago period. Revenue is expected to drop to ¥5.61 billionfrom ¥6.75 billion a year ago.

Kabu.com Securities did not provide an explanation for thenet profit fall. The company is scheduled to release results for the Junequarter July 25.

As of July 19, US$1was equivalent to ¥106.36.