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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: "Yamauchi"


3 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.
☆ Family office of Nintendo heirs says patience is a super power
  + stars: | 2023-03-03 | by ( Mariko Katsumura Makiko Yamazaki Ritsuko Shimizu | Mariko Katsumura | Makiko Yamazaki | ) www.reuters.com   time to read: +4 min
But its tussle with the $620 million Toyo, Japan's third-largest marine construction firm in which it holds 27%, has been anything but whimsical. When asked for comment, Toyo Construction said it intended to set up a committee to consider the takeover proposal. It said it repeatedly requested more information to help it evaluate the offer but the Yamauchi office had not responded. The Yamauchi family office announced its all-cash offer to take Toyo private in May last year, a 30% premium to an earlier bid by Toyo's then largest shareholder. The board supported the lower offer, which later lapsed and the Yamauchi family office says it spent many months trying to engage with the board.
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