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Sumitomo Densetsu Co ( (JP:1949) ) has issued an announcement.
Sumitomo Densetsu has resolved to issue a single Class A preferred share worth approximately ¥123.0 billion to Daiwa House Industry through a third-party allotment, alongside a planned reduction of its capital stock and legal capital surplus. The funds raised will be used to secure the resources and distributable amount needed for a planned share buyback of shares held by parent company Sumitomo Electric Industries as part of a broader transaction designed to make Sumitomo Densetsu a wholly owned subsidiary of Daiwa House. This capital measure follows a prior tender offer in which Daiwa House acquired roughly 40.9% of the company but fell short of full ownership, and will be implemented in tandem with a large-scale reverse share consolidation that will leave Daiwa House and Sumitomo Electric as the only shareholders before the subsequent buyback completes the privatization structure.
The most recent analyst rating on (JP:1949) stock is a Buy with a Yen10397.00 price target. To see the full list of analyst forecasts on Sumitomo Densetsu Co stock, see the JP:1949 Stock Forecast page.
More about Sumitomo Densetsu Co
Sumitomo Densetsu Co., Ltd., listed on the Tokyo Stock Exchange Prime Market, operates in the electrical and construction engineering sector, providing installation and related infrastructure services to a broad base of industrial and commercial clients in Japan. The company is part of the Sumitomo group network and maintains close capital ties with Sumitomo Electric Industries, positioning it within a wider industrial conglomerate ecosystem.
Average Trading Volume: 161,361
Technical Sentiment Signal: Buy
Current Market Cap: Yen345.1B
Learn more about 1949 stock on TipRanks’ Stock Analysis page.