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Okamura Foods Co. Ltd. ( (JP:2938) ) has issued an update.
Okamura Foods Co., Ltd. announced a correction to its previous notice regarding the acquisition of a majority stake in Riga Bay Aquaculture, AS by its subsidiary Musholm A/S. Initially intended to be a consolidated subsidiary, Riga Bay Aquaculture will instead be classified as a joint venture with SIA Sudrablinis Holdings. Despite this change, Musholm retains a 51% stake. This strategic move is expected to significantly enhance Okamura Foods’ aquaculture business by potentially increasing production capacity in Latvia, addressing previous growth challenges due to licensing limitations in Denmark.
The most recent analyst rating on (JP:2938) stock is a Buy with a Yen1323.00 price target. To see the full list of analyst forecasts on Okamura Foods Co. Ltd. stock, see the JP:2938 Stock Forecast page.
More about Okamura Foods Co. Ltd.
Okamura Foods Co., Ltd. operates in the aquaculture industry, focusing on the farming of fish such as trout. The company is engaged in expanding its aquaculture operations internationally, with current operations in Denmark and Japan, and is listed on the Tokyo Stock Exchange.
Average Trading Volume: 167,527
Technical Sentiment Signal: Strong Buy
Current Market Cap: Yen58.97B
For an in-depth examination of 2938 stock, go to TipRanks’ Overview page.