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An announcement from Suruga Bank ( (JP:8358) ) is now available.
Suruga Bank has announced a strategic move concerning its controlling shareholder, Credit Saison Co., Ltd., which holds 19.10% of its voting rights. The bank has resolved to acquire treasury shares through a tender offer, reducing Credit Saison’s voting rights to approximately 16%. This move is part of a broader capital and business alliance aimed at enhancing their retail financial solutions. Despite the close relationship, Suruga Bank maintains its management independence and implements robust compliance and risk controls to safeguard shareholder interests. This alliance is expected to strengthen both companies’ positions in the financial sector by combining their expertise and resources.
More about Suruga Bank
Suruga Bank, Ltd. operates in the financial services industry, focusing on retail banking solutions. It collaborates with Credit Saison, a major credit card company, to leverage their combined strengths in the retail sector and aims to become a ‘Neo Finance Solution Company’ providing comprehensive financial solutions.
YTD Price Performance: 21.02%
Average Trading Volume: 693,266
Technical Sentiment Signal: Buy
Current Market Cap: Yen260.1B
For an in-depth examination of 8358 stock, go to TipRanks’ Overview page.