TWINBIRD CORPORATION opposed JAPANET HOLDINGS' TOB proposal, but said it plans to review low-profitability issues, scale back unprofitable businesses and review its business structure.
TWINBIRD CORPORATION, a mid-sized home appliance maker based in Niigata, reportedly decided not to consent to JAPANET HOLDINGS' tender offer (TOB), and referred to identifying low-profitability issues through its response to the TOB.
President Nomizu Shigeaki (野水 重明) said in retrospect that the series of actions had "led to a review of low-profitability issues." Looking ahead, he indicated that the company intends to use an operating margin of 10% or higher as a benchmark and scale back unprofitable businesses.
The company appears intent on shifting its business structure by drawing on expertise from the Tsubame-Sanjo area of Niigata Prefecture, where its headquarters are located.