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    7616   JP3305970000

COLOWIDE CO.,LTD.

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Colowide : boosts Ootoya stake to 46.77% in successful takeover bid

09/08/2020 | 10:58pm EDT

Japanese restaurant chain operator Colowide Co. said Wednesday it has raised its stake in struggling dining chain Ootoya Holdings Co. to 46.77 percent following a hostile takeover bid.

Colowide, which runs a wide range of Japanese-style pubs and restaurants including the grilled beef eatery Gyu-Kaku, has said it plans to immediately send new directors to Ootoya after an extraordinary shareholders' meeting to turn around the latter's business following the takeover bid launched in July and extended in late August.

Colowide said the tender offer successfully ended Tuesday after it received enough offers from Ootoya shareholders to raise its stake in the set-menu eatery above the targeted lower limit of 40 percent.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
COLOWIDE CO.,LTD. 1.98% 1960 End-of-day quote.20.02%
OOTOYA HOLDINGS CO., LTD. -0.07% 2726 End-of-day quote.20.62%
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Financials
Sales 2021 168 B 1 523 M 1 523 M
Net income 2021 -9 728 M -88,1 M -88,1 M
Net Debt 2021 138 B 1 252 M 1 252 M
P/E ratio 2021 -13,9x
Yield 2021 0,26%
Capitalization 147 B 1 333 M 1 332 M
EV / Sales 2020 1,05x
EV / Sales 2021 1,67x
Nbr of Employees 5 625
Free-Float 76,8%
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Income Statement Evolution
Managers and Directors
Kohei Nojiri President & Representative Director
Kaneo Kurodo Chairman
Takahito Takeshima Executive Officer & GM-Corporate Administration
Shinya Fukuzaki Independent Outside Director
Michio Tani Independent Outside Director
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