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The latest announcement is out from Yodogawa Steel Works ( (JP:5451) ).
YODOKO has canceled its basic agreement to sell all or part of its equity in Chinese consolidated subsidiary Yodogawa-Shengyu (Hefei) High-Tech Steel Co., Ltd. to Shanghai Tsinghen International Trading Co., Ltd., after concluding that STIT’s financial status and actions made the transaction unsuitable. The board determined that withdrawing from the deal is the most reasonable course to protect the interests of YODOKO and YSS stakeholders.
The company has already begun negotiations with a new prospective purchaser in China for the same equity interests, aiming to proceed with a sale that will still generate a consolidated gain on the disposal of subsidiary shares. That anticipated gain has been factored into YODOKO’s earnings and dividend forecasts for the fiscal year ending March 2027, and the company plans to disclose further details once the new transaction terms are finalized.
More about Yodogawa Steel Works
Yodogawa Steel Works, which operates under the brand name YODOKO, is a Japanese steelmaker listed on the Tokyo Stock Exchange Prime Market. The company is involved in manufacturing and processing steel products and operates through domestic and overseas subsidiaries, including high-tech steel operations in China that support its international growth strategy.
YTD Price Performance: 2.35%
Average Trading Volume: 615,892
Technical Sentiment Signal: Buy
Current Market Cap: Yen203.8B
Learn more about 5451 stock on TipRanks’ Stock Analysis page.