YEAR-END Definition

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YEAR-END is the end of an accounting period; usually a calendar year, but may be a fiscal year. Books are closed at year-end.

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PRIVATE EQUITY is equity securities of unlisted (non-publicly traded) companies. Private equities are generally illiquid and thought of as a long-term investment. Private equity investments are not subject to the same high level of government regulation as stock offerings to the general public. Private equity is also far less liquid than publicly traded stock.

YEN is the currency of Japan. Its subdivisions are 100 sen and 1000 rin.

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