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 JASDAQ  >  OOTOYA Holdings Co., Ltd.    2705   JP3188300002

OOTOYA HOLDINGS CO., LTD.

(2705)
  Report
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Japan dining chain Ootoya ties up with online grocer amid hostile bid

08/14/2020 | 12:54am EST

Japanese restaurant chain Ootoya Holdings announced a partnership with online grocery retailer Oisix Ra Daichi Inc on Friday, aiming to fend off a hostile bid by its rival and largest shareholder, Colowide Co.

Ootoya, which operates a casual dining chain popular for its home-style cooking, has been under pressure to show investors that it has a better plan than the one by Colowide, which offered a 46% premium to the shares' value before the bid.

Under the partnership, Ootoya and Oisix plan to jointly sell food, including meal kits, an increasingly popular item among shoppers who want homemade meals but have little time to prepare them.

The announced deal did not involve an exchange of capital, but the Nikkei financial daily reported that the two may eventually discuss a capital alliance as an alternative to Colowide's plan.

Ootoya shares were unchanged late on Friday at 2,862 yen. They are still trading below Colowide's bid of 3,081 yen per share. The offer by Colowide, which aims to increase its stake in Ootoya to 51.32% from 19.16%, runs until Aug. 25.

Although hostile bids such as Colowide's are still rare, financial analysts say more Japanese companies are turning to such moves as they seek ways of securing growth amid a sluggish economy.

Restaurant groups such as Ootoya and Colowide, which operates a wide range of dining chains such as pubs and sushi restaurants, are struggling with weak sales, as the pandemic has discouraged people from dining out.

Online food delivery services such as Oisix, on the other hand, have become popular this year as the pandemic discouraged people from shopping in crowded supermarkets.

Oisix is one of Japan's biggest online food retailers, specialising in organic vegetables. Its main competitors are consumer cooperatives and the growing e-commerce sites of big supermarkets such as Aeon and Seven & i Holdings.

(Reporting by Junko Fujita and Ritsuko Ando; Editing by Gerry Doyle)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
COLOWIDE CO.,LTD. 0.34% 1766 End-of-day quote.8.14%
NIKKEI 225 0.67% 28822.29 Real-time Quote.4.33%
OISIX RA DAICHI INC. 2.17% 3295 End-of-day quote.5.44%
OOTOYA HOLDINGS CO., LTD. 0.09% 2271 End-of-day quote.0.49%
All news about OOTOYA HOLDINGS CO., LTD.
2020OOTOYA : reshuffles management after Colowide's hostile takeover bid
AQ
2020UPDATE2 : Colowide to seek Ootoya management change after success in takeover
AQ
2020Japan stocks hit 1-1/2-week low as U.S. tech rout turns contagious
RE
2020UPDATE1 : Eatery operator Colowide boosts Ootoya stake to 46.77% in takeover bid
AQ
2020Japanese shares hit 1-1/2 week low on U.S. tech selloff
RE
2020COLOWIDE : boosts Ootoya stake to 46.77% in successful takeover bid
AQ
2020OOTOYA : Japan's Colowide says it's won fast-food fight to take over rival Ootoy..
RE
2020COLOWIDE : succeeds in hostile takeover bid over Ootoya
AQ
2020COLOWIDE : Japan's Colowide says it's won fast-food fight to take over rival Oot..
RE
2020Japanese shares pause after prior session rally
RE
More news
Financials
Sales 2020 24 579 M 237 M 237 M
Net income 2020 -1 147 M -11,1 M -11,1 M
Net cash 2020 445 M 4,29 M 4,29 M
P/E ratio 2020 -12,0x
Yield 2020 1,32%
Capitalization 16 452 M 159 M 159 M
EV / Sales 2019 0,58x
EV / Sales 2020 0,54x
Nbr of Employees 686
Free-Float 47,4%
Chart OOTOYA HOLDINGS CO., LTD.
Duration : Period :
OOTOYA Holdings Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends OOTOYA HOLDINGS CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Managers and Directors
NameTitle
Masaki Kurodo President & Representative Director
Yukihiro Kodo Executive Officer & Manager-Finance
Hiroaki Hamada Director & General Manager-Administration
Masaya Yamamoto Director
Tomohito Mitsumori Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
OOTOYA HOLDINGS CO., LTD.0.49%159
STARBUCKS CORPORATION-2.87%122 332
COMPASS GROUP PLC2.31%33 986
DARDEN RESTAURANTS, INC.2.40%15 897
SODEXO10.95%13 650
JUBILANT FOODWORKS LIMITED-1.61%4 956