Third-Party Allotment of Treasury Shares to Strengthen Ties with Sogo & Seibu and Expand Sales of Branded Products
First written in FY2017-Q3. 1 of 2 entries say "Advanced", first in FY2017. Latest entry: FY2017.
5 other companies' latest entry also says "Advanced".
- FY2017AdvancedAnnual report
「In November last year, the Company disposed of treasury shares through a private placement to Sogo & Seibu Co., Ltd. Through this alliance, the two companies intend to leverage their respective strengths to jointly develop and sell not only the Company's branded products but also "Yokohama Brand" products, thereby contributing together to regional development over the long term.」
The disposal of treasury shares to Sogo & Seibu has been completed, and the scope of the partnership has expanded to include the joint development and sale of Yokohama Brand products in addition to the Company's branded products. - FY2017-Q3First statedAnnual report
「At a meeting of the Board of Directors held on 5 October 2017, the Company resolved to dispose of treasury shares through a private placement. ① Recipient: Sogo & Seibu Co., Ltd. ② Method: Private placement ③ Number of shares disposed of: 38,000 common shares ④ Disposal price: ¥2,999 per share ⑤ Total disposal price: ¥113.962 million ⑥ Disposal date: 10 November 2017. Going forward, the Company judged that it could increase sales of its branded products and, in turn, enhance corporate value by strengthening its relationship with Sogo & Seibu and leveraging Sogo & Seibu's know-how and network in the planning and sale of regional branded products. The Company also judged that the two companies could contribute together to regional development over the long term.」
At its Board of Directors meeting on 5 October 2017, the Company resolved to dispose of 38,000 treasury shares through a private placement to Sogo & Seibu, for a total of ¥113.962 million. The initiative is described as aiming to increase sales of the Company's branded products, enhance corporate value and contribute to regional development by leveraging Sogo & Seibu's know-how and network in planning and selling regional branded products.