Nippon Steel to implement TOB for Tokyo Rope, increase shareholding ratio to 19.91%
Nippon Steel Corporation announced on January 21 that it will make a public share purchase (TOB) to Tokyo Rope Mfg.Co.,Ltd, Japan's largest wire rope company. Nippon Steel will purchase at 1,500 yen per share and invest 2.4 billion yen to increase its shareholding ratio to 19.91 percent from the current 9.91 percent. (Photo quoted from Nippon Steel’s official website)
On the TOB's reasons, Nippon Steel pointed out that despite the dysfunctional governance structure of Tokyo Rope, it has not taken effective steps to resolve it and its business performance has continued to deteriorate. On top of that, Nippon Steel said that they could not overlook this situation and that it was necessary to restore and improve the corporate value of Tokyo Rope.
(IRuniverse)
Related articles
- 08/02/2024 October 9 (Wednesday), 4th Circular Economy Symposium in TOKYO
- 03/15/2024 The 3rd Circular Economy Symposium in TOKYO on April 4th, Thursday
- 10/11/2023 October 30 (Mon) 2nd Circular Economy Symposium in TOKYO
- 10/28/2021 Pakistan Accuses US-India "Collusion" -Intertwined US-China & Indo-Pakistani Confrontation
- 10/25/2021 Chuck Kawakami’s Eye (#12) －Better to Look a Little Carefully as to Whether the Low Yen will Continue for a Long Time
- 10/25/2021 Cabinet Decision on the 6th Strategic Energy Plan－Nuclear Power Plant Discussion that was not Deeply Dug
- 10/23/2021 Imminent COP26－All Making a Rush Declaration of Carbon Neutral
- 10/21/2021 Kurdish Power Strengthens in Parliament as a Result of Iraqi General Election
- 10/20/2021 The Soaring Price of Natural Gas is An Opportunity－Azerbaijan to Increase Exports to Europe
- 10/13/2021 Can the Move to Improve Relations between Syria and Jordan be a Loophole from US sanctions?
