Small-appliance maker Twinbird announced on 31 August that it opposed the tender offer proposal from Japanet Holdings. The proposal was withdrawn, effectively ending discussions between the two companies. President Nomizu Shigeaki (野水 重明) said delivering the new medium-term management plan would be the top priority.
On 31 August, Twinbird announced its opposition to the tender offer (TOB) proposal from Japanet Holdings. In response, Japanet withdrew the proposal, bringing discussions over control of the two companies to a close.
Twinbird President Nomizu Shigeaki (野水 重明), who is from the company’s founding family, explained that the decision to maintain the current management structure had been made through the proper process, and positioned the new medium-term management plan as a matter that must be delivered.
He indicated that the company’s policy going forward would be to complete the new medium-term management plan and demonstrate to shareholders that the current management structure is the best option.