Toho Reaffirms Independence Despite Significant Stake Held by Hankyu Hanshin Holdings

Toho Co ( (JP:9602) ) has provided an announcement.

Toho Co., Ltd. has clarified its relationship with Hankyu Hanshin Holdings, Inc., which holds a combined 22.62% of Toho’s voting rights and is classified as an “other associated company.” Hankyu Hanshin Holdings is a pure holding company at the center of the Hankyu Hanshin Toho Group, and while Toho has no direct business ties with it, Toho conducts building lease and other ordinary transactions with several Hankyu Hanshin group companies.

The president and group CEO of Hankyu Hanshin Holdings, Yasuo Shimada, serves as a non-executive director on Toho’s board, but only one of Toho’s nine directors is affiliated with Hankyu Hanshin. Toho stresses that it is not included in Hankyu Hanshin’s group management scope, shares no common management strategies, faces no business constraints from the affiliation, and sees benefits from the strong “Hankyu” and “Hanshin” consumer brands, while asserting that the relationship does not disadvantage minority shareholders.

Toho further notes there are currently no specific transactions that fall under the category of dealings with a controlling shareholder requiring special measures. The company emphasizes that it has ensured a high degree of independence through what it describes as a modest partnership with Hankyu Hanshin Holdings and H2O Retailing Corporation, and argues that any business relationships within the group are limited in influence and do not undermine protections for minority investors.

The most recent analyst rating on (JP:9602) stock is a Hold with a Yen9300.00 price target. To see the full list of analyst forecasts on Toho Co stock, see the JP:9602 Stock Forecast page.

More about Toho Co

Toho Co., Ltd. is a Japanese entertainment and real estate company best known for its film production and distribution, theater operations, and related content businesses. Listed on the Prime Market of the Tokyo Stock Exchange and the Fukuoka Stock Exchange under securities code 9602, Toho primarily serves general consumers and operates as part of the broader Hankyu Hanshin Toho Group, while maintaining its own management policies and strategies.

Average Trading Volume: 3,423,151

Technical Sentiment Signal: Strong Buy

Current Market Cap: Yen1420.4B

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