bullish
Daihatsu Diesel's (6023) Big Buyback and Quasi Change of Control
962 Views29 Jan 2025 14:34
Yesterday, Daihatsu Diesel - marine engine sub of Toyota sub Daihatsu - announced better guidance, higher div, and that Daihatsu would sell its stake to a 3rd party and back to the company. It's big.
What is covered in the Full Insight:
- Introduction
- Background on Daihatsu Diesel
- Announcement Highlights
- New Shareholder Structure
- Concluding Thoughts and Future Outlook
Boomeranged on Fri, 21 Feb 2025 10:44
Since the announcement of a Tender to buy back nearly 20% of shares out at a discount, reducing net cash, and upping EPS by 25%, Daihatsu Diesel shares have popped, and dropped. Now -5% to a pro-forma post-tender March 2025 PER of 9x with ~10% of market cap in net cash. Under div payout policy, div likely +20% next year. Still capital room to buy back 15+% crossholdings, and pay higher divs.
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