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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Nitori Holdings Co., Ltd.    9843   JP3756100008

NITORI HOLDINGS CO., LTD.

(9843)
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UPDATE1: Nitori to launch rival takeover bid for Shimachu in Nov.

10/29/2020 | 04:58am EST

Japanese home furnishings retailer Nitori Holdings Co. said Thursday it will launch a rival takeover bid in mid-November to make do-it-yourself and hardware store operator Shimachu Co. a wholly owned subsidiary, triggering a fierce acquisition battle with a major DIY store operator.

Nitori set its bid price at 5,500 yen ($53) per share, surpassing the 4,200 yen per share that its rival DCM Holdings Co., a Tokyo-based operator of DIY store chains, is paying in a tender offer through Nov. 16 worth up to 163.6 billion yen.

Nitori plans to spend a total of 214.3 billion yen on the takeover bid. On the Tokyo Stock Exchange, Shimachu shares closed Thursday's session up 3.5 percent at 5,060 yen.

Given Nitori's higher bid price and Shimachu's recent share price rises, DCM could be forced to raise its offer before its tender offer period ends on Nov. 16.

Nitori Chairman Akio Nitori said in a press conference he will start holding talks with Shimachu's management to gain their support for the planned tender offer.

Domestic retail firms have been struggling to expand amid Japan's rapidly aging population, intensifying cross-industry competition among home furnishings retailers, hardware stores and drugstores.

But Nitori, which is based in Japan's northernmost main island of Hokkaido and is known for its affordable products, has been growing steadily, posting a double-digit rise in sales and profits in the first half of its current business year through next February.

The coronavirus pandemic has helped boost its sales as customers spend more time at home.

Operating about 560 stores across Japan and around 70 overseas as of August, Nitori seeks to expand its operations in Tokyo and surrounding prefectures by acquiring Shimachu to achieve its target of 3,000 outlets in total and 3 trillion yen in revenue. Shimachu, which is based in Saitama, north of Tokyo, has around 60 stores.

For DCM, a successful acquisition of Shimachu will make it the biggest DIY store operator in the country with annual sales of around 500 billion yen, surpassing the current leader Cainz Co.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
NITORI HOLDINGS CO., LTD. 1.36% 21975 End-of-day quote.1.64%
SHIMACHU CO., LTD. 0.00% 5490 End-of-day quote.0.18%
All news about NITORI HOLDINGS CO., LTD.
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2020NITORI : successfully ends tender offer for hardware retailer Shimachu
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2020NITORI HOLDINGS CO., LTD. : quaterly earnings release
2020Shimachu Urges Shareholders to Accept Nitori Holdings Tender Offer
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2020Japan's DCM says to extend offer for rival Shimachu to December 1
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2020DIY retailer Shimachu makes about-face, accepts Nitori's takeover bid
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2020AKIO NITORI : Japan's Shimachu backs Nitori's $2 bln takeover bid
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2020Japan's Shimachu accepts Nitori's $2 billion buyout bid over DCM's - Nikkei
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2020Japan's Shimachu backs Nitori's $2 bln takeover bid
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More news
Financials
Sales 2021 713 B 6 884 M 6 884 M
Net income 2021 91 554 M 884 M 884 M
Net cash 2021 212 B 2 049 M 2 049 M
P/E ratio 2021 27,2x
Yield 2021 0,58%
Capitalization 2 479 B 23 945 M 23 948 M
EV / Sales 2021 3,18x
EV / Sales 2022 2,89x
Nbr of Employees 14 337
Free-Float 71,1%
Chart NITORI HOLDINGS CO., LTD.
Duration : Period :
Nitori Holdings Co., Ltd. Technical Analysis Chart | 9843 | JP3756100008 | MarketScreener
Technical analysis trends NITORI HOLDINGS CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 23 353,85 JPY
Last Close Price 21 975,00 JPY
Spread / Highest target 22,9%
Spread / Average Target 6,27%
Spread / Lowest Target -21,3%
EPS Revisions
Managers and Directors
NameTitle
Akio Nitori Chairman & Chief Executive Officer
Toshiyuki Shirai President, COO & Representative Director
Fumihiro Sudo Director & Vice President
Takao Kubo Director
Takaharu Ando Independent Outside Director
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