After the market close on the 7th, HAGIHARA INDUSTRIES, INC. entered into a capital and business alliance agreement with Development Bank of Japan Inc. The company also announced the details of the alliance, including support from DBJ for its growth strategy, as well as a share allotment, and the news was viewed as a catalyst.
HAGIHARA INDUSTRIES, INC. announced after the market close on the 7th that it had entered into a capital and business alliance agreement with Development Bank of Japan Inc. (DBJ). The alliance is intended to strengthen and improve the execution of growth strategies aimed at enhancing corporate value over the medium to long term, while providing integrated support for the advancement of financial, business and management systems from both financial and non-financial perspectives. As part of the agreement, the companies will also establish a capital alliance under which the company will allot common shares to DBJ.
Under the capital alliance, HAGIHARA INDUSTRIES, INC. will allot 486,600 common shares to DBJ, giving DBJ a voting rights ownership ratio of 3.32%. Through the alliance, DBJ will be positioned to help enhance corporate value not only through financial support but also as part of its management support. The closing price stood at ¥1,998 in trading on the 8th, up ¥97 from the previous day.