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MarketScreener Homepage  >  Equities  >  Tokyo JASDAQ  >  OOTOYA Holdings Co., Ltd.    2705   JP3188300002

OOTOYA HOLDINGS CO., LTD.

(2705)
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Restaurant chain Ootoya joins Japan's growing list of hostile takeover targets

07/09/2020 | 04:30am EST

Japanese casual dining chain Ootoya Holdings rebuffed a takeover move by restaurant group Colowide Co announced on Thursday, becoming the latest in a growing list of hostile takeover targets in the country.

Colowide, which already owns a 19% stake in Ootoya, said in a statement on Thursday that it would launch a tender, seeking to increase its stake to as much as 51%, offering to buy the shares at 3,081 yen, a premium of more than 45% on Wednesday's closing price.

Ootoya said the announcement by Colowide, which runs popular restaurants such as barbecue chain Gyu-Kaku, had come as a surprise and that a majority of shareholders were against the move.

Hostile takeovers are rare in corporate Japan, which values consensus, but increasing pressure on companies to deliver shareholder returns amid a sluggish domestic market have prompted more such moves.

(Reporting by Ritsuko Ando; Editing by Susan Fenton)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
COLOWIDE CO.,LTD. 0.34% 1766 End-of-day quote.8.14%
OOTOYA HOLDINGS CO., LTD. 0.09% 2271 End-of-day quote.0.49%
THE RESTAURANT GROUP -1.13% 65.55 Delayed Quote.2.10%
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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%
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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
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