In today’s briefing:
- Toyo Construction (1890) Investors/Traders Beware
- Takashimaya and H2O Cancel Tie-Up
- Green Lawson: More Eco and Avatars
Toyo Construction (1890) Investors/Traders Beware
- On 13 December, Toyo Construction (1890 JP) suitor YFO issued a press release which was not to the liking of Toyo Construction. A day later, Toyo Construction offered its own.
- YFO responded on the 21st, saying ToyoKen’s PR was inaccurate. Not quite a week after that, ToyoKen announced one tiny subsidiary(Tecos) would absorb another (portable toilet rental co Orient Ecology).
- Synergies? None. Growth? None. Scale? Nope. Was this for some other reason investors need to worry about? Maybe.
Takashimaya and H2O Cancel Tie-Up
- Takashimaya and H2O Retailing entered what felt like a forced engagement of convenience in 2008 when all their other competitors were busy merging.
- Although discussions for a full merger were held, in truth, thea agreement was more about practical collaboration to create more efficiencies.
- With both firms now more secure and cross-shareholdings more problematic, they will sell off their equity in each other but continue to work on joint projects.
Green Lawson: More Eco and Avatars
- Lawson introduced a new store format in Tokyo last month called Green Lawson, touting new ways to save energy and reduce waste.
- The new store also features an early version of a retail advertising system that emulates Familymart Vision.
- The latest updates emphasise the continued investment by the big three convenience stores to remain relevant and improve sales efficiency while also countering the labour shortage.
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