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An announcement from Toho Bank, Ltd. ( (JP:8346) ) is now available.
The Toho Bank, Ltd. has resolved to acquire shares of fellow Fukushima-based regional lender THE DAITO BANK, LTD. from major shareholder HS Holdings Co., Ltd., and has entered into a share purchase agreement that qualifies as a “buying up” transaction under Japan’s Financial Instruments and Exchange Act. By increasing its stake in Daito Bank, which it views as having a solid business base and growth potential, Toho Bank aims to deepen collaboration between the two institutions amid ongoing population decline in Fukushima Prefecture, with a view to strengthening their relationship, supporting local economic development, and enhancing the corporate value of both banks while maintaining healthy competition in the regional financial market.
The most recent analyst rating on (JP:8346) stock is a Buy with a Yen503.00 price target. To see the full list of analyst forecasts on Toho Bank, Ltd. stock, see the JP:8346 Stock Forecast page.
More about Toho Bank, Ltd.
The Toho Bank, Ltd. is a regional financial institution listed on the Tokyo Stock Exchange Prime Market that provides ordinary banking services, with a primary business base in Fukushima Prefecture. Operating under its long-term TX PLAN 2030, the bank positions itself as a contributor to local communities by focusing on enhancing the value of customers’ businesses and improving the lives of individual clients through regional co-creation and growth strategies.
Average Trading Volume: 741,242
Technical Sentiment Signal: Buy
Current Market Cap: Yen134.1B
See more insights into 8346 stock on TipRanks’ Stock Analysis page.