Jafco Saw Revenues Fall 49% for 1H

Jafco Co., a Tokyo-based leading venture capital firm announced that it logged an 800 million yen group loss for the April-September term. This was the first red ink in six halves. Revenues plunged 49% year on year to 7.1 billion yen because the company saw only 3 domestic and overseas initial public offerings among its investments. Earnings were also weighed down by losses on stock sales and by an increase in investment loss reserves.