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Nisshin OilliO Group, Ltd. ( (JP:2602) ) just unveiled an announcement.
Nisshin OilliO has disclosed details of its relationship with major shareholder Marubeni Corporation, which owns 17% of its voting rights and treats Nisshin OilliO as an equity-method affiliate. The company emphasizes that its board independently oversees management, with no overlapping directorships at Marubeni, reinforcing its autonomy despite the significant shareholding.
The company also outlined transaction terms with Marubeni, covering sales of oils, fats, and meal as well as purchases of raw materials totaling tens of billions of yen annually. It said pricing is set each fiscal term through negotiations based on market levels and costs, under general commercial conditions, as part of measures to prevent any disadvantage to minority shareholders in dealings with the affiliated trading house.
More about Nisshin OilliO Group, Ltd.
The Nisshin OilliO Group, Ltd. operates in the food and agribusiness sector, focusing on edible oils, fats, and related meal products. Listed on the Prime Market of the Tokyo Stock Exchange, the company supplies oils, fats, and raw materials, serving industrial and commercial customers in Japan and abroad, with Marubeni Corporation as a significant shareholder holding 17% voting rights.
Average Trading Volume: 253,694
Technical Sentiment Signal: Buy
Current Market Cap: Yen168.9B
For an in-depth examination of 2602 stock, go to TipRanks’ Overview page.