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    8473   JP3436120004

SBI HOLDINGS, INC.

(8473)
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Japan's SBI to weigh Shinsei majority stake if tender offer succeeds

11/12/2021 | 12:46am EST
FILE PHOTO: The Shinsei Bank logo is pictured at the lobby of the bank in Tokyo

TOKYO, Nov 12 (Reuters) - SBI Holdings Inc on Friday said it would consider taking a majority stake in Shinsei Bank Ltd if it succeeds in its $1.1 billion tender offer to raise its stake in the mid-sized lender to 48% from about 20%.

However, SBI will retract its offer if Shinsei Bank pursues a poison pill defence, the online financial conglomerate said in a statement in response to questions from Shinsei shareholder Deposit Insurance Corp of Japan.

Shinsei opposed SBI's approach last month, saying that the offer could hurt interests of minority shareholders and that the price was too low.

Its possible poison pill defence - in which a company dilutes the value of its shares or takes other action to make itself an unattractive target - has won the support of proxy advisory firms, including Institutional Shareholder Services Inc (ISS) and Glass Lewis & Co.

SBI on Friday said such support "lacks sufficient logic".

It also said that if it retracts its tender offer, it would consider other options, including selling all of its stake in Shinsei Bank.

SBI shares were up 1.7% in afternoon trade, whereas those of Shinsei Bank were flat. The broader Nikkei index was up 1%. (Writing by Christopher Cushing; Editing by Chang-Ran Kim and Gerry Doyle)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SBI HOLDINGS, INC. 0.53% 2830 Delayed Quote.-10.21%
SHINSEI BANK LIMITED 0.87% 2092 Delayed Quote.10.73%
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Financials
Sales 2022 631 B 5 478 M 5 478 M
Net income 2022 114 B 993 M 993 M
Net Debt 2022 605 B 5 248 M 5 248 M
P/E ratio 2022 6,05x
Yield 2022 5,02%
Capitalization 692 B 6 010 M 6 006 M
EV / Sales 2022 2,05x
EV / Sales 2023 2,32x
Nbr of Employees 9 209
Free-Float 98,4%
Chart SBI HOLDINGS, INC.
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Technical analysis trends SBI HOLDINGS, INC.
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 8
Last Close Price 2 830,00 JPY
Average target price 3 601,25 JPY
Spread / Average Target 27,3%
EPS Revisions
Managers and Directors
Yoshitaka Kitao President, CEO & Director
Shumpei Morita Senior MD, Head-Finance & Accounting
Katsuya Kawashima COO, Representative Director & Vice President
Masayuki Yamada Executive Officer & Manager-Legal Affairs
Teruhide Sato Independent Outside Director
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