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An announcement from Daido Metal Co., Ltd. ( (JP:7245) ) is now available.
Daido Metal Co., Ltd. has announced a financial restructuring plan for its subsidiary, Daido Industrial Bearings Europe Limited, which has been negatively impacted by reduced production volumes due to COVID-19 and increased costs. The plan involves waiving £10 million in loans and underwriting a £19 million capital increase to stabilize the subsidiary’s financial position, with the expectation of increasing production of bearings for marine and industrial engines amid rising demand.
More about Daido Metal Co., Ltd.
Daido Metal Co., Ltd. operates in the industrial sector, primarily focusing on manufacturing non-automotive bearings. The company holds a strategic market position, particularly in Europe, through its subsidiary Daido Industrial Bearings Europe Limited.
YTD Price Performance: -2.67%
Average Trading Volume: 1,189
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €144.7M
For an in-depth examination of 7245 stock, go to TipRanks’ Stock Analysis page.
