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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  DCM Holdings Co., Ltd.    3050   JP3548660004

DCM HOLDINGS CO., LTD.

(3050)
  Report
End-of-day quote. End-of-day quote Tokyo Stock Exchange - 01/15
1082 JPY   -0.64%
01/12DCM SHRIRAM : Board to Consider Interim Dividend on Jan. 28
MT
2020DCM HOLDINGS CO., LTD. : quaterly earnings release
2020DCM HOLDINGS CO., LTD. : quaterly earnings release
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Japan's Nitori considers bid for Shimachu in challenge to DCM offer

10/21/2020 | 02:34am EST

TOKYO (Reuters) - Japanese furniture retailer Nitori Holdings Co said on Wednesday it may bid for Shimachu Co, threatening a plan for the home improvement retailer to be bought by its bigger rival DCM Holdings Co in $1.6 billion deal.

DCM's tender offer, which values Shimachu at 164 billion yen ($1.6 billion) is due to run until Nov. 16 and has the support of Shimachu's management.

Nitori's possible bid could become another test case for Japan's corporate governance, which has been improving as boards come under pressure to give investors higher returns.

Placing a bid without consent from a target has been a long taboo in Japanese corporate culture but in recent years the number of such bids has been on the rise and welcomed as investors tend to support higher bids.

A hostile bid by a travel agent H.I.S. Co to buy hotel operator Unizo Holdings last year was a typical example.

Though the H.I.S. bid eventually failed, it prompted global foreign investment groups to place competing bids, helping the shares surge.

Already an activist fund has emerged as a shareholder in Shimachu. A government filing on Wednesday shows that an investment fund associated with prominent investor Yoshiaki Murakami has boosted its stake in Shimachu to 8.38%.

News of the possible bid by Nitori sent shares in Shimachu surging more than 13% to 4,760 yen in early trade, well above DCM's offer price of 4,200 yen and valuing the company at 185.4 billion yen.

Shimachu said it had not received a proposal from Nitori.

A DCM spokesman said the company would continue with its tender offer as planned, declining to comment on Nitori's announcement. DCM's shares plunged 8.2%.

A bid by Nitori, which sells a range of products from furniture to kitchen tools at affordable prices, highlights efforts by retailers to grow as the coronavirus pandemic slows consumption.

"We are considering possibilities for growth through mergers and acquisitions, including Shimachu," Nitori said in a statement.

Nitori's shares dropped 0.9% while the wider market edged 0.4% higher.

($1 = 105.3800 yen)

(Reporting by Chang-Ran Kim and Junko Fujita; Editing by Edwina Gibbs, Kim Coghill and Gerry Doyle)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DCM HOLDINGS CO., LTD. -0.64% 1082 End-of-day quote.-8.23%
H.I.S. CO., LTD. 0.54% 1682 End-of-day quote.5.26%
NITORI HOLDINGS CO., LTD. 0.04% 22430 End-of-day quote.3.75%
SHIMACHU CO., LTD. 0.00% 5480 End-of-day quote.0.00%
All news about DCM HOLDINGS CO., LTD.
01/12DCM SHRIRAM : Board to Consider Interim Dividend on Jan. 28
MT
2020DCM HOLDINGS CO., LTD. : quaterly earnings release
2020DCM HOLDINGS CO., LTD. : quaterly earnings release
2020DCM Shares Rise 7% Despite Rating Affirmation at D
MT
2020Shimachu Urges Shareholders to Accept Nitori Holdings Tender Offer
MT
2020Japan's DCM says to extend offer for rival Shimachu to December 1
RE
2020DIY retailer Shimachu makes about-face, accepts Nitori's takeover bid
AQ
2020AKIO NITORI : Japan's Shimachu backs Nitori's $2 bln takeover bid
RE
2020Japan's Shimachu accepts Nitori's $2 billion buyout bid over DCM's - Nikkei
RE
2020Japan's Shimachu backs Nitori's $2 bln takeover bid
RE
More news
Financials
Sales 2021 465 B 4 479 M 4 479 M
Net income 2021 20 000 M 193 M 193 M
Net Debt 2021 - - -
P/E ratio 2021 7,39x
Yield 2021 2,96%
Capitalization 166 B 1 600 M 1 600 M
Capi. / Sales 2021 0,36x
Capi. / Sales 2022 0,36x
Nbr of Employees 4 248
Free-Float 73,1%
Chart DCM HOLDINGS CO., LTD.
Duration : Period :
DCM Holdings Co., Ltd. Technical Analysis Chart | 3050 | JP3548660004 | MarketScreener
Technical analysis trends DCM HOLDINGS CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Average target price 2 000,00 JPY
Last Close Price 1 082,00 JPY
Spread / Highest target 84,8%
Spread / Average Target 84,8%
Spread / Lowest Target 84,8%
EPS Revisions
Managers and Directors
NameTitle
Toshihiro Hisada Chairman & Chief Executive Officer
Yasunori Ishiguro President, COO & Representative Director
Hisato Kumagai Director & Senior Manager-Finance
Toshimitsu Shimizu Director & Senior Manager-Personnel
Michio Masukawa Independent Outside Director
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