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Top related persons:
Yamauchi - 1 Toyo - 1 YFO - 1 YFO's - 1 Makiko Yamazaki - 1 Alexander Smith - 1
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TOKYO
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Japan's Toyo - 1 Toyo - 1 YFO - 1 Thomson - 1

Search resuls for: "YFO"


2 mentions found


☆ Nintendo founder's YFO set to raise Toyo bid -source
  + stars: | 2023-09-25 | by ( Makiko Yamazaki | ) www.reuters.com   time to read: +1 min
It took about nine months for Toyo to form a special committee to assess YFO's offer, which YFO said acted against shareholders' interest. At an annual meeting in June, Toyo shareholders approved seven of nine directors backed by YFO, allowing these directors to form a majority of the board. It had been possible for YFO to hold talks with Toyo since the board reshuffle, the source said. YFO had already notified Toyo of its proposal and believes it could start a tender offer by late December, the source said. Expectations for a sweetened offer from YFO have in recent weeks boosted Toyo shares, which closed at 1,241 yen on Monday.
Persons: Yamauchi, Toyo, YFO, YFO's, Makiko Yamazaki, Alexander Smith Organizations: Japan's Toyo, Toyo, YFO, Thomson Locations: TOKYO
☆ Exclusive: Takeover target of Nintendo family office asks for Japan government probe
  + stars: | 2023-03-27 | by ( Makiko Yamazaki Mariko Katsumura Ritsuko Shimizu | Makiko Yamazaki | Mariko Katsumura | ) www.reuters.com   time to read: +3 min
TOKYO, March 28 (Reuters) - The Japanese construction company targeted for takeover by the family office linked to Nintendo Co's (7974.T) founder is pushing back against the fund and has asked the government to investigate alleged breaches of foreign ownership rules. Toyo Construction Co (1890.T), the marine construction company now 27% owned by Yamauchi-No.10 Family Office (YFO), made the request to the government this month, according to a letter seen by Reuters. YFO has amassed most of its 27% stake through three related investment companies registered in the Cayman Islands, each of them with less than 10%. It said the three investment vehicles were not closely related as defined by law in terms of the capital structure and that all three had different directors. "In both the acquisition of Toyo Construction shares and the formulation of the buyout proposal, we have been in close consultation with regulators throughout.
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