SBI Sumishin Net Bank Supports NTT DOCOMO Tender Offer and Forms Strategic Alliance

SBI Sumishin Net Bank Ltd ( (JP:7163) ) has shared an update.

SBI Sumishin Net Bank, Ltd. has announced its support for a tender offer by NTT DOCOMO, INC. for its common shares, recommending shareholders to tender their shares. Additionally, the company has entered into a business alliance agreement with NTT DOCOMO, Sumitomo Mitsui Trust Bank, SBI Holdings, and SBI Securities, aiming to make NTT DOCOMO and Sumitomo Mitsui Trust Bank the sole shareholders, leading to the company’s delisting. This move is expected to consolidate the company’s operations under NTT DOCOMO’s umbrella, potentially enhancing its market positioning and strategic capabilities.

The most recent analyst rating on (JP:7163) stock is a Hold with a Yen3020.00 price target. To see the full list of analyst forecasts on SBI Sumishin Net Bank Ltd stock, see the JP:7163 Stock Forecast page.

More about SBI Sumishin Net Bank Ltd

SBI Sumishin Net Bank, Ltd. operates in the financial services industry, primarily focusing on providing online banking services. The company is a part of the Tokyo Stock Exchange’s Standard Market and is known for its innovative digital banking solutions.

Average Trading Volume: 1,505,525

Technical Sentiment Signal: Hold

Current Market Cap: Yen486.9B

For an in-depth examination of 7163 stock, go to TipRanks’ Stock Analysis page.