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MarketScreener Homepage  >  Equities  >  Tokyo  >  Asahi Group Holdings Ltd    2502   JP3116000005

ASAHI GROUP HOLDINGS LTD

(2502)
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Asahi : Change of the Chairman and Representative Director

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02/14/2019 | 01:12am EDT

February 14, 2019

For Immediate Release

Company Name: Asahi Group Holdings, Ltd.

President and Representative Director: Akiyoshi Koji

Stock Ticker: 2502

Stock Listings: Tokyo Stock Exchange, First Section

Contact: Takayuki Tanaka

General Manager

Public Relations Section

Phone: +81-3-5608-5126

Change of the Chairman and Representative Director

Tokyo, Japan - Asahi Group Holdings, Ltd. (the "Company") announced that at its Board of Directors held on February 14, 2019, the Company has resolved that the position of Naoki Izumiya, the Chairman and Representative Director, be dedicated to the Chairman and Director. The change is scheduled to be officially decided at the Annual General Meeting of Shareholders as well as its Board of Directors held on March 26, 2019.

1. Reason of the change

The Company aims to separate the roles of management supervision and business executions clearly for enhancing its governance system. To this end, the Company has moved toward the governance system in which the President, CEO serves as the Representative Director, who takes final responsibility for the execution of management and its results and the Chairman serves as the chairman of the board assuming management supervision role and does not double as the Representative Director. The Company also works on selecting outside directors more than one third of the members of the board of directors and promote diversification of directors. Through these efforts, the Company will strengthen its governance system to make transparent, fair, swift and bold decisions.

This year, the Company introduced the new group philosophy "Asahi Group Philosophy" and updated the Medium-Term Management Policy for embodying the philosophy. Under the new governance system, the Company has enhanced "Glocal Value Creation Management" and aims to achieve sustainable growth and improve our corporate value in the medium to long-term.

2. The name and role of the Representative Director to be changed Name: Naoki Izumiya

New Position: Chairman and Director

Old Position: Chairman and Representative Director

3. Scheduled Date

March 26, 2019

4. Reference: Change of the Representative Director in the operating company

Name: Kenichi Shiozawa

New Position: President and Represent Director in Asahi Breweries, Ltd.

Old Position: Vice President and Director in Asahi Group Foods, Ltd.

Scheduled Date: March 19, 2019

Disclaimer

Asahi Group Holdings Ltd. published this content on 14 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 February 2019 06:11:06 UTC

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Financials (JPY)
Sales 2019 2 142 B
EBIT 2019 228 B
Net income 2019 154 B
Debt 2019 876 B
Yield 2019 2,14%
P/E ratio 2019 14,67
P/E ratio 2020 13,85
EV / Sales 2019 1,52x
EV / Sales 2020 1,44x
Capitalization 2 379 B
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 6 057  JPY
Spread / Average Target 23%
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Managers
NameTitle
Akiyoshi Koji President, CEO & Representative Director
Naoki Izumiya Chairman & Representative Director
Kenji Hamada Chief Financial Officer & Director
Shunjiro Sakano General Manager-Finance
Naoki Tanaka Independent Outside Director
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