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Seiren Co ( (JP:3569) ) has provided an update.
Seiren Co., Ltd. has announced its decision to acquire shares of a new company formed from the split of Unitika Ltd. and Nippon Ester Co., Ltd. This acquisition aims to take over the textile business operated at the Okazaki Plant, which includes significant polyester polymerization facilities. Despite challenges such as declining demand and rising raw material costs, Seiren plans to revitalize the business through structural reforms and investments, leveraging synergies with its existing operations. The company also sees potential in developing a chemical recycling business at the plant, contributing to environmental goals and maintaining local employment.
The most recent analyst rating on (JP:3569) stock is a Buy with a Yen3435.00 price target. To see the full list of analyst forecasts on Seiren Co stock, see the JP:3569 Stock Forecast page.
More about Seiren Co
Seiren Co., Ltd. operates in the textile industry, focusing on the manufacture and sale of nonwoven fabric products, industrial fiber products, filament products, and various polyester chips. With over 130 years of experience in textile technology, the company aims to enhance its corporate value and sustainable growth while addressing social issues like ESG and carbon neutrality.
Average Trading Volume: 137,128
Technical Sentiment Signal: Buy
Current Market Cap: Yen162.8B
See more insights into 3569 stock on TipRanks’ Stock Analysis page.