Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Colowide Co.,Ltd.    7616   JP3305970000

COLOWIDE CO.,LTD.

(7616)
  Report
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

UPDATE2: Colowide to seek Ootoya management change after success in takeover

09/09/2020 | 05:28am EST

Japanese restaurant and bar chains operator Colowide Co. said Wednesday it has requested that Ootoya Holdings Co. convene an extraordinary shareholders' meeting to reshuffle its management following Colowide's successful hostile takeover bid for the struggling dining chain.

Colowide, which runs a wide range of Japanese-style pubs and restaurants including the grilled beef eatery Gyu-Kaku, said earlier in the day it had raised its stake in Ootoya to 46.77 percent, above the targeted lower limit of 40 percent through the hostile tender offer that ended Tuesday.

The Yokohama-based izakaya restaurant operator held a 19.16 percent stake in Ootoya, which operates the set-menu eatery chain, before the takeover bid that was launched in July and extended in late August.

Colowide said in a statement it has requested that Ootoya unveil a new list of directors by next Tuesday while allowing some of the current Ootoya board members to remain to ensure a smooth handover of management.

If talks with Ootoya break up, Colowide said it would propose dismissing all 11 current directors and sending seven new board members to Ootoya at the envisioned extraordinary shareholders' meeting.

The izakaya restaurant operator has said it plans to improve Ootoya's profitability by sharing its central kitchen and other logistics facilities as well as joint procurement and food distribution.

Ootoya, which features healthy and what it calls "mom's food" cooked on-site at each outlet, opposed the takeover bid, saying Colowide's central kitchen system will "clearly lower" the quality of its meals.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
COLOWIDE CO.,LTD. 0.59% 1535 End-of-day quote.-32.11%
OOTOYA HOLDINGS CO., LTD. 9.65% 2171 End-of-day quote.-8.59%
All news about COLOWIDE CO.,LTD.
11/04OOTOYA : reshuffles management after Colowide's hostile takeover bid
AQ
09/09UPDATE2 : Colowide to seek Ootoya management change after success in takeover
AQ
09/09Japan stocks hit 1-1/2-week low as U.S. tech rout turns contagious
RE
09/08UPDATE1 : Eatery operator Colowide boosts Ootoya stake to 46.77% in takeover bid
AQ
09/08Japanese shares hit 1-1/2 week low on U.S. tech selloff
RE
09/08COLOWIDE : boosts Ootoya stake to 46.77% in successful takeover bid
AQ
09/08OOTOYA : Japan's Colowide says it's won fast-food fight to take over rival Ootoy..
RE
09/08COLOWIDE : succeeds in hostile takeover bid over Ootoya
AQ
09/08COLOWIDE : Japan's Colowide says it's won fast-food fight to take over rival Oot..
RE
08/26Japanese shares pause after prior session rally
RE
More news
Financials
Sales 2020 235 B 2 262 M 2 262 M
Net income 2020 -6 447 M -62,0 M -62,0 M
Net Debt 2020 125 B 1 200 M 1 200 M
P/E ratio 2020 -18,4x
Yield 2020 0,31%
Capitalization 115 B 1 105 M 1 107 M
EV / Sales 2019 1,05x
EV / Sales 2020 1,05x
Nbr of Employees 5 420
Free-Float 76,8%
Chart COLOWIDE CO.,LTD.
Duration : Period :
Colowide Co.,Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COLOWIDE CO.,LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Managers
NameTitle
Kohei Nojiri President & Representative Director
Kaneo Kurodo Chairman
Masaki Kurodo Senior Managing Director
Ikuta Fukasawa Director
Hidekazu Seo Director
Sector and Competitors
1st jan.Capitalization (M$)
COLOWIDE CO.,LTD.-32.11%1 105
STARBUCKS CORPORATION11.69%115 257
COMPASS GROUP PLC-26.32%33 440
DARDEN RESTAURANTS, INC.1.44%14 398
SODEXO-32.87%12 332
JOLLIBEE FOODS CORPORATION-12.50%4 401