Daily BriefsJapan

Japan: Gremz Inc, World Co Ltd and more

By September 16, 2020 No Comments

In today’s briefing:

  • TOPIX Inclusion Pre-Event Trade (3150 JP): Tachiaigai Bunbai Announced. It’s GREEN.
  • Japan’s Big Apparel Trouble: World to Close 350 More Stores

TOPIX Inclusion Pre-Event Trade (3150 JP): Tachiaigai Bunbai Announced. It’s GREEN.

By Janaghan Jeyakumar, CFA

Gremz Inc (3150 JP) announced (J-only) a tachiaigai bunbai (equity offering) today stating that they intend to work towards achieving the Section Transfer requirements to move from TSE2 to TSE1. 

The shares for sale will be coming from controlling shareholder Masaomi Tanaka’s holdings.  

The Offering will place up to 878,000 shares with a maximum limit of 800 shares per buyer. The Offering is scheduled to take place from 25th September to 2nd October 2020. The Offer Price will be set at a discount to the last close prior to the Offer Date. Usually the Offer Date is the first day in the period.

As always, there is more below the fold. 


Japan’s Big Apparel Trouble: World to Close 350 More Stores

By Michael Causton

Apparel groups are in trouble, as Renown Inc (3606 JP)’s bankruptcy and Sanyo Shokai (8011 JP)’s boardroom battles exemplify, but World Co Ltd (3612 JP) always claimed it was in better shape – particularly just before relisting.

The Kobe-based firm has now admitted even its shopping mall chains need fixing, with a raft of closures due soon but, unlike competitors, it does have real growth businesses including its new Off Price chain, &Bridge and is in much better shape than competitors – but all things are relative, with the apparel sector showing clear signs of dysfunction with more closures and bankruptcies to follow.

Their demise will leave more room for the better-performing retailers and brands.


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