Daio Paper Corporation ( (JP:3880) ) has provided an update.
Daio Paper Corporation has decided to transfer all shares of its wholly-owned subsidiary, Elleair International Turkey, to Evyap Holding due to unforeseen changes in the business environment, such as the COVID-19 pandemic, the Russia-Ukraine conflict, and increased competition in Turkey. This strategic move is part of Daio’s broader efforts to reform its Home & Personal Care overseas business, aiming to enhance cash flow and corporate value while improving its financial position.
More about Daio Paper Corporation
Daio Paper Corporation is a prominent company in the paper industry, primarily involved in the production and sale of paper products, including sanitary goods. The company has a significant market presence in Japan and Asia, with a focus on expanding its business operations in the MENA region, Russia, and surrounding countries.
YTD Price Performance: 5.37%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €853.1M
Find detailed analytics on 3880 stock on TipRanks’ Stock Analysis page.