Log in
E-mail
Password
Show 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
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Mitsui Fudosan Co., Ltd.
  6. News
  7. Summary
    8801   JP3893200000

MITSUI FUDOSAN CO., LTD.

(8801)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Mitsui Fudosan : successfully acquires Tokyo Dome via tender offer

01/19/2021 | 03:17am EDT

Property developer Mitsui Fudosan Co. said Tuesday its friendly tender offer for Tokyo Dome Corp. was successful, clinching the 102.23 billion yen ($980 million) purchase of the operator of a major indoor ballpark.

Mitsui Fudosan will acquire an 84.8 percent stake in Tokyo Dome, seeking to redevelop the popular leisure spot where the stadium operator also has an amusement park and hotel. With a maximum capacity of 55,000, the stadium is the home ballpark of professional Japanese baseball team Yomiuri Giants.

After Mitsui Fudosan makes Tokyo Dome a wholly owned subsidiary, The Yomiuri Shimbun Holdings, the publisher of one of the country's leading newspapers, is scheduled to get a 20 percent stake in the operator.

In the tender offer from Nov. 30 through Monday, Mitsui Fudosan offered 1,300 yen per Tokyo Dome share. The developer said it will purchase some 78 million shares for 102.23 billion yen and turn the operator into one of its consolidated subsidiaries on Jan. 25.

With its expertise in running commercial complexes, Mitsui Fudosan also wants to help Tokyo Dome recover from the fallout of the coronavirus pandemic that has caused event cancellations and a drop in spectators.

Tokyo Dome is projecting a net loss of 18 billion yen for the business year through Jan. 31.

Toyo Dome had faced calls from activist investor Oasis Management Co. to improve its business and remove President Tsutomu Nagaoka and two directors. Other investors, however, rejected the Hong Kong-based fund's proposal for a management shake-up.

After Mitsui Fudosan came forward with its offer, Oasis Management decided to tender its shares in Tokyo Dome, paving the way for the successful bid.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MITSUI FUDOSAN CO., LTD. 0.25% 2621 End-of-day quote.21.43%
All news about MITSUI FUDOSAN CO., LTD.
10/19Mitsui Fudosan Logistics Park Receives Four-Star ESG Integration Rating
MT
10/06MITSUI FUDOSAN : Strengthening the International Competitiveness of Japanese Agriculture -..
PU
10/06MITSUI FUDOSAN : Verification of Technology Developed by the University of Tokyo Utilizing..
PU
10/06MITSUI FUDOSAN : Microsoft Azure Subscriptions to Be Offered Free of Charge to Members of ..
PU
10/06Mitsui Fudosan Logistics Park to Borrow $27 Million to Pay Distributions
MT
10/03MITSUI FUDOSAN : Making a Reality of Digitalization of All Documents and Paperwork for Buy..
PU
10/01Tranche Update on Mitsui Fudosan Co., Ltd.'s Equity Buyback Plan announced on May 14, 2..
CI
09/29MITSUI FUDOSAN CO., LTD. : Ex-dividend day for interim dividend
FA
09/27MITSUI FUDOSAN GROUP'S FIRST PREMIUM : 1.04mb)
PU
09/27GRAND MARINA TOKYO PARK TOWER KACHID : 1.74mb)
PU
More news
Financials
Sales 2022 2 125 B 18 655 M 18 655 M
Net income 2022 163 B 1 428 M 1 428 M
Net Debt 2022 3 472 B 30 470 M 30 470 M
P/E ratio 2022 15,3x
Yield 2022 1,72%
Capitalization 2 516 B 22 132 M 22 083 M
EV / Sales 2022 2,82x
EV / Sales 2023 2,77x
Nbr of Employees 23 992
Free-Float 93,3%
Chart MITSUI FUDOSAN CO., LTD.
Duration : Period :
Mitsui Fudosan Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MITSUI FUDOSAN CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Last Close Price 2 614,50 JPY
Average target price 3 148,75 JPY
Spread / Average Target 20,4%
EPS Revisions
Managers and Directors
Masanobu Komoda President & Representative Director
Hiromichi Iwasa Chairman
Masafumi Nogimori Independent Outside Director
Shinichiro Ito Independent Outside Director
Tsunehiro Nakayama Independent Outside Director