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. Shinsei Bank, Limited
  6. News
  7. Summary
    8303   JP3729000004

SHINSEI BANK, LIMITED

(8303)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Shinsei Bank : decides to launch defense against SBI's takeover

09/17/2021 | 04:38am EDT

Shinsei Bank said Friday it will launch defensive measures against an unsolicited takeover bid by Japanese online financial firm SBI Holdings Inc. and hold an extraordinary shareholders meeting to seek approval for the plan.

The decision by the bank's board marks a further flare-up in tensions, effectively making a tender offer launched a week ago by SBI hostile.

As part of its defense, Shinsei plans to issue new shares to existing shareholders to dilute SBI's shareholdings, a tactic known as a poison pill to foil the online financial firm's abrupt takeover attempt.

Shinsei said its board will set a date for the extraordinary shareholders' meeting, adding that it is seeking SBI's response to questions regarding the purpose of the takeover bid and ways to boost the value of the bank's shares.

In the tender offer through Oct. 25, SBI is seeking to increase its stake in Shinsei to as high as 48 percent from the current 20 percent. It is offering 2,000 yen ($18) per share, meaning that the takeover could reach 116.4 billion yen.

Shinsei shares ended at 1,896 yen on Friday.

SBI, led by CEO Yoshitaka Kitao, has blamed Shinsei's current management for its failure to improve profitability and repay public funds.

Shinsei, meanwhile, has taken issue with the bid, which was made without prior consultation, and pointed out that SBI gave inaccurate or insufficient explanations. It has argued SBI suddenly launched the bid to raise its stake in the bank, contrary to previous assurances that the financial group did not intend to step up share buying.

Shinsei has also sounded out Sony Group Corp. about the possibility of making a counteroffer, people close to the matter said earlier.

Shinsei is known in Japan for its consumer loans and credit card businesses. It received around 370 billion yen in public funds after its predecessor's collapse in 1998 and repaying it remains a challenge. The Japanese government owns around 20 percent of the bank.

SBI's envisaged takeover comes as Prime Minister Yoshihide Suga, who has underlined the need to reorganize regional banks, is stepping down as his term ends later this month.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SBI HOLDINGS, INC. -0.66% 3015 End-of-day quote.23.21%
SHINSEI BANK, LIMITED 1.05% 1916 End-of-day quote.50.75%
All news about SHINSEI BANK, LIMITED
10/21Analysis-A court battle raises the question - how far will Japan swallow poison pills?
RE
10/21UPDATE4 : Shinsei Bank rejects SBI's tender offer, set for hostile takeover
AQ
10/21KYODO NEWS DIGEST : Oct. 21, 2021 -3-
AQ
10/21UPDATE3 : Shinsei Bank rejects SBI's tender offer, set for hostile takeover
AQ
10/21Japan's SBI rejects new bid conditions sought by Shinsei Bank
RE
10/21UPDATE2 : Shinsei Bank rejects SBI's tender offer, set for hostile takeover
AQ
10/21UPDATE1 : Shinsei Bank officially rejects SBI's tender offer, set for hostile takeover
AQ
10/21SHINSEI BANK : Urgent Headline News
AQ
10/21URGENT : Shinsei Bank rejects SBI's tender offer, set for hostile takeover
AQ
10/21SHINSEI BANK : Japan's Shinsei opposes SBI's $1.1 bln bid, sets conditions for support
RE
More news
Financials
Sales 2022 238 B 2 088 M 2 088 M
Net income 2022 42 213 M 371 M 371 M
Net Debt 2022 - - -
P/E ratio 2022 9,37x
Yield 2022 0,63%
Capitalization 399 B 3 503 M 3 501 M
Capi. / Sales 2022 1,68x
Capi. / Sales 2023 1,65x
Nbr of Employees 5 605
Free-Float 48,5%
Chart SHINSEI BANK, LIMITED
Duration : Period :
Shinsei Bank, Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SHINSEI BANK, LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 1 910,00 JPY
Average target price 1 918,00 JPY
Spread / Average Target 0,42%
EPS Revisions
Managers and Directors
Hideyuki Kudo President, CEO & Representative Director
Michiyuki Okano Head-Group Information Technology
Akira Hirasawa Director, Chief Legal & Compliance Officer
Kyohei Matsumoto Chief Group Legal & Compliance Officer
Minoru Hirayama Senior Manager-Group Finance & Administration
Sector and Competitors