bullish
Torii Pharmaceutical (4551 JP): Board Opposes Shareholder Proposal for Appropriation of Surplus
280 Views21 Feb 2023 19:55
SUMMARY
- LIM Japan Event Master Fund sent a document to Torii Pharmaceutical (4551 JP) requesting the company to distribute 100% of its surplus to shareholders and conduct a drastic share buyback.
- LIM is of view that Torii has excess cash balances, which is more than the market cap of the company. Inefficient use of capital has led to low single-digit ROE.
- Torii opposes the proposal, as the company thinks it needs adequate cash to pursue business development aka in-licensing of new drugs.
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
- Unlock research summaries
- Follow top, independent analysts
- Receive personalised alerts
- Access Analytics, Events and more
Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.
Upgrade later to our paid plans for full-access.
or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
Rising
Tina Banerjee
Global Healthcare Analyst
Price Chart(Sign Up to Access)
x