Daily BriefsIndustrials

Daily Brief Industrials: Toyo Construction and more

In today’s briefing:

  • Toyo Construction (1890 JP): YFO Fires Another Salvo at the Board

Toyo Construction (1890 JP): YFO Fires Another Salvo at the Board

By Arun George

  • Due to the inability of getting a fair hearing from Toyo Construction (1890 JP)’s Board, YFO’s strategy now is to replace some of the Board at the June AGM.  
  • YFO’s latest press release also catalogues the Board’s shockingly poor corporate governance in relation to its tender offer at JPY1,000. Crucially, a special committee is yet to be formed. 
  • There is no timeline update on the tender which was set to start in late January. YFO continues to maintain that it will not withdraw its proposal.

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