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An update from Avex Inc. ( (JP:7860) ) is now available.
Avex Inc. will transfer its entire 30% stake in SANRIO SOUTHEAST ASIA PTE. LTD., a Singapore-based joint venture with Sanrio Co., Ltd., to Sanrio, leading to the dissolution of the JV and Avex’s exit from equity-method accounting for the entity, while recognizing an extraordinary gain. Having achieved its initial five-year objective of rebuilding Sanrio characters into highly recognized brands in the Southeast Asian character licensing market, the two companies are now shifting from a regional JV model to a broader strategic partnership framework, signing a basic agreement toward a memorandum of understanding that will cover collaboration in music, events and merchandising to further create and expand IP in both Japanese and global markets.
The most recent analyst rating on (JP:7860) stock is a Hold with a Yen1239.00 price target. To see the full list of analyst forecasts on Avex Inc. stock, see the JP:7860 Stock Forecast page.
More about Avex Inc.
Avex Inc., listed on the Tokyo Stock Exchange Prime Market, operates in the entertainment and intellectual property (IP) business, developing and monetizing content such as music, events and character-related merchandising. Through regional subsidiaries like Avex South East Asia Pte. Ltd., the company has pursued overseas expansion and collaborations to enhance the value and reach of Japanese and partner IP in global markets, particularly across Asia.
Average Trading Volume: 169,893
Technical Sentiment Signal: Hold
Current Market Cap: Yen54.64B
See more insights into 7860 stock on TipRanks’ Stock Analysis page.