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MarketScreener Homepage  >  Equities  >  Tokyo  >  Japan Post Holdings Co Ltd    6178   JP3752900005

JAPAN POST HOLDINGS CO LTD

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Japan Post : sells $2.9 billion shares in insurance unit at bottom of range - filing

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04/15/2019 | 05:23am EDT
FILE PHOTO - A man holding an umbrella is reflected in the logo of Japan Post Group at its headquarters in Tokyo

TOKYO (Reuters) - Japan Post Holdings Co on Monday priced a share sale of its insurance business at the bottom of an expected range, a filing showed, raising $2.9 billion in the sale.

Japan Post sold 136.7 million share at 2,375 apiece, the insurance company said in a filing, representing a 4 percent discount from Monday's closing price of 2,474 yen.

DealWatch had previously reported that the discount was likely to range between 2 percent and 4 percent. That meant a total sale size of 325 billion yen ($2.9 billion), according to Reuters calculations.

Japan Post said earlier this month it would reduce its stake in Japan Post Insurance - part of its effort to advance the privatisation of its group companies - by selling 168 million shares.

The size of the sale was then reduced to 137 million shares last week as Japan Post Insurance bought back 37 million shares, mainly from the holding company.

Japan Post may sell as many as 13.7 million shares in an additional offering depending on the demand of the shares on the market, it has previously said.

Japan Post Holdings, Japan Post Insurance and Japan Post

Bank listed simultaneously in 2015 with the government

raising some $12 billion, marking the country's biggest

privatisation in almost 30 years.

(This story has been refiled to say bottom, not bottle, in headline)

(Reporting by Junko Fujita; Editing by David Dolan)

Stocks mentioned in the article
ChangeLast1st jan.
JAPAN POST HOLDINGS CO LTD -0.81% 1102 End-of-day quote.-11.91%
JAPAN POST INSURANCE CO LTD 1.48% 1785 End-of-day quote.-29.00%
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Financials (JPY)
Sales 2020 12 681 B
EBIT 2020 767 B
Net income 2020 431 B
Finance 2020 52 080 B
Yield 2020 4,72%
P/E ratio 2020 10,1x
P/E ratio 2021 9,90x
EV / Sales2020 -3,76x
EV / Sales2021 -3,77x
Capitalization 4 435 B
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Technical analysis trends JAPAN POST HOLDINGS CO LTD
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 1 389,00  JPY
Last Close Price 1 097,00  JPY
Spread / Highest target 45,9%
Spread / Average Target 26,6%
Spread / Lowest Target 9,39%
EPS Revisions
Managers
NameTitle
Masatsugu Nagato President & Director
Hidetake Kikuhara Executive Officer
Seiji Yukino Executive Officer & Senior Manager-Group IT
Yasuo Suzuki Director & Representative SEVP
Miwako Noma Independent Outside Director
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