Furukawa Electric Co (JP:5801) has released an update.
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Furukawa Electric Co., Ltd. has reached an agreement to not participate in a tender offer for shares of its subsidiary, The Furukawa Battery Co., Ltd., and will instead pursue a share consolidation and subsequent share transfer. Following these transactions, Furukawa Battery will cease to be a consolidated subsidiary of Furukawa Electric. The strategy aligns with Furukawa Electric’s medium-term management plan to optimize its business portfolio and focus on increasing corporate value.
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