ICHIBANYA's share price rose sharply from the previous week's close, moving from the ¥910 range to an intraday high of ¥1,091 and hitting its daily price limit. Meanwhile, reports that HOUSE FOODS GROUP INC. is considering selling its ICHIBANYA shares have fueled speculation about a review of the capital relationship and a restructuring of the business portfolio.
According to reports on 31 August, ICHIBANYA, which operates the Curry House CoCo ICHIBANYA chain, rose ¥150 from the previous week's close to ¥1,091, moving near its daily price limit. The source was the Nikkei online edition, which cited speculative buying in the market as the reason for ICHIBANYA's sharp rise.
Reports on the same day said that HOUSE FOODS GROUP INC. is considering selling its ICHIBANYA shares. ICHIBANYA has historically collaborated with HOUSE FOODS GROUP INC., including in the procurement of raw materials, after becoming its subsidiary, and the potential sale is widely viewed as likely to signify a restructuring of the capital relationship.
The reports said that HOUSE FOODS GROUP INC. aims to review its business portfolio and rebuild its growth strategy. They suggested a policy of moving toward dissolving the parent-subsidiary listing relationship, prompting speculation that capital efficiency would be improved.
The market widely viewed the reports as having revived speculative buying in ICHIBANYA.