Exclusive: Investor group urges Toyo Suisan to focus on instant noodles, exit legacy business [Reuters]
TOYO SUISAN KSHA UNSP/ADR (TSUKY)
Company Research
Source: Reuters
NEW YORK, April 24 (Reuters) - An investor group is urging Toyo Suisan Kaisha to consider exiting its legacy business plus raise its dividend and buy back shares, arguing these steps could roughly double the Japanese ramen noodle maker's share price, a report seen by Reuters says. The group, led by private equity firm Nihon Global Partners Management, owns a 3.8% stake in the company, which owns Maruchan Inc, a hugely popular instant noodle maker. Together the investors submitted four shareholder proposals which, if passed at this year's annual meeting, may lift the share price to roughly JPY 17,300, the report says. Report this ad Nihon Global Partners, which invests in Japanese listed companies that are growing rapidly outside of Japan, said the company should exit its refrigerated warehouse business and consider a sale to strategic buyer or a public listing. It also proposed Toyo Suisan separate its processed foods and seafood trading business, arguing the businesses are n
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