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Furukawa Electric Co ( (JP:5801) ) has shared an update.
Furukawa Electric Co., Ltd. has decided to transfer all its equity interest in its wholly-owned subsidiary, Shenyang Furukawa Cable Co., Ltd., to Anhui Wei Guang Wire & Cable Co., Ltd. This decision comes as a response to intensified price competition and slow economic recovery in the Chinese market, which has impacted the subsidiary’s profitability. The transfer aims to deconsolidate the subsidiary and improve the company’s financial positioning by focusing on more profitable ventures.
The most recent analyst rating on (JP:5801) stock is a Buy with a Yen12092.00 price target. To see the full list of analyst forecasts on Furukawa Electric Co stock, see the JP:5801 Stock Forecast page.
More about Furukawa Electric Co
Furukawa Electric Co., Ltd. operates in the electrical equipment industry, primarily focusing on the manufacturing and sale of power cables and accessories. The company has a significant presence in the Tokyo Stock Exchange and has been involved in developing underground power transmission networks, particularly in China.
Average Trading Volume: 7,180,193
Technical Sentiment Signal: Buy
Current Market Cap: Yen708.4B
See more data about 5801 stock on TipRanks’ Stock Analysis page.