Saint Marc Holdings (Saint Marc HD) shares rebounded after the company announced plans to acquire the TsuruTonTan udon restaurant business for ¥12.8 billion. The shares rose 4.72% from the previous day following the announcement, with K-Express, a subsidiary of Kato Pleasure Group, identified as the acquisition target.
Saint Marc Holdings shares rebounded, reaching ¥2,593 as of 11:15 a.m., up ¥117 from the previous day. The news reported that the company had announced plans to acquire the TsuruTonTan udon restaurant business for ¥12.8 billion.
The acquisition target is K-Express, a subsidiary of Kato Pleasure Group, and the acquisition is reportedly intended to expand the TsuruTonTan business's earnings over the long term. The reported acquisition price is ¥12.8 billion, and the transaction is expected to be carried out through the establishment of a new subsidiary.
Saint Marc Holdings has indicated plans to establish a new company effective the 30th, and the group's business portfolio is expected to change through subsequent business restructuring.