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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Members Co., Ltd.    2130   JP3921700005

MEMBERS CO., LTD.

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United Auto Workers union to name new president as U.S. corruption probe widens

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11/21/2019 | 12:53pm EDT
FILE PHOTO: FILE PHOTO: United Auto Workers (UAW) union President Gary Jones addresses UAW delegates at the 'Special Convention on Collective Bargaining' in Detroit,

The United Auto Workers union international executive board will meet to name a new president, the union said on Thursday, a day after the previous president resigned following 17 months in office, but union officials said a date for the meeting had not been set.

The UAW confirmed that Gary Jones had resigned on Wednesday, as the union moved to remove him office and as U.S. prosecutors were widening a criminal investigation into illegal payoffs that so far has seen 10 people plead guilty.

Jones' lawyer Bruce Maffeo told Reuters in a statement Thursday that Jones believed "that his continuing to serve will only distract the union from its core mission to improve the lives of its members and their families."

Separately, a union spokesman confirmed that acting UAW president Rory Gamble has named another union official, Jimmie Williams, as his new chief of staff after Jones' previous chief of staff was assigned to new duties in the president's office.

The union constitution calls for its international executive board to meet and vote on a new president. A UAW spokesman said a date has not yet been set for the meeting.

Earlier on Wednesday the union filed charges under its bylaws against Jones, who had taken a paid leave of absence in early November, accusing him of "false, misleading and inaccurate expense records."

In late October, another UAW official was charged with embezzling hundreds of thousands of dollars in an alleged scheme that a person familiar with the case told Reuters involved Jones.

In documents released Thursday, the UAW leadership said "Jones has demonstrated he should be removed from office and expelled from membership."

The union also filed similar charges against UAW board member Vance Pearson, who was charged in September with conspiring to embezzle union funds.

An attorney for Pearson, N. Scott Rosenblum, did not comment. The union charges against Pearson are still pending.

By David Shepardson

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Financials
Sales 2021 12 650 M 118 M 118 M
Net income 2021 910 M 8,51 M 8,51 M
Net Debt 2021 - - -
P/E ratio 2021 22,3x
Yield 2021 1,04%
Capitalization 20 289 M 191 M 190 M
Capi. / Sales 2021 1,60x
Capi. / Sales 2022 1,37x
Nbr of Employees 1 244
Free-Float 51,9%
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Mean consensus BUY
Number of Analysts 1
Average target price 2 400,00 JPY
Last Close Price 1 579,00 JPY
Spread / Highest target 52,0%
Spread / Average Target 52,0%
Spread / Lowest Target 52,0%
EPS Revisions
Managers
NameTitle
Tadashi Kenmochi President & Representative Director
Akihiko Takano Director & Head-Administration
Kiyoshi Amakasu Independent Outside Director
Masaaki Kanai Independent Outside Director
Shinichi Tamagami Independent Outside Director
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