SAKURA Internet Gains Independence as Sojitz Cuts Stake and Board Members Exit

SAKURA Internet Inc. ( (JP:3778) ) has issued an update.

SAKURA internet Inc. announced board-level changes and a revision of its long-standing business alliance with trading house Sojitz Corporation after Sojitz reduced its stake, ending SAKURA’s status as an equity-method affiliate. Two outside directors and one outside corporate auditor seconded from Sojitz resigned, while the company confirmed it will continue to meet legal requirements for directors and auditors.

The capital alliance aspects of the agreement with Sojitz will be reviewed, but the core business alliance will remain in place, preserving strategic collaboration while enhancing SAKURA’s management independence. Management signaled plans to accelerate growth in the digital infrastructure business by leveraging greater agility, and stated that the governance changes and partial amendment to the alliance are expected to have an immaterial impact on current fiscal-year consolidated results.

The most recent analyst rating on (JP:3778) stock is a Hold with a Yen2685.00 price target. To see the full list of analyst forecasts on SAKURA Internet Inc. stock, see the JP:3778 Stock Forecast page.

More about SAKURA Internet Inc.

SAKURA internet Inc. is a Japan-based information technology company listed on the Tokyo Stock Exchange, operating in the digital infrastructure and internet services sector. The company focuses on data centers, cloud and related infrastructure services, targeting the rapidly expanding digital infrastructure market in Japan and potentially broader Asia.

Average Trading Volume: 675,191

Technical Sentiment Signal: Hold

Current Market Cap: Yen112B

For a thorough assessment of 3778 stock, go to TipRanks’ Stock Analysis page.