TBS to issue new shares, move seen as takeover defense

TBS to issue new shares, move seen as takeover defense

TOKYO, Japan - Tokyo Broadcasting System Inc. Managing Director Keizo Zaitsu (L) speaks as Executive Director Kenichiro Kidokoro looks on at a press conference in Tokyo on Aug. 31. Zaitsu said TBS will raise a total of about 28 billion yen in September by selling new and outstanding shares to Dentsu Inc. and three other companies to help finance new mobile phone and Internet-related businesses. The step is being regarded as a measure to increase friendly long-term shareholders and discourage a hostile takeover, since an investment fund led by financier Yoshiaki Murakami has reportedly acquired some TBS shares and is eyeing a management buyout.

  • Product Code
  • ILEA001110759
  • Registered date
  • 2005/8/31 00:00:00
  • Credit
  • Kyodo / Kyodo News Images
  • Media source
  • 2005 Kyodo News
  • Media size
  • 1864 × 1228 pixel
  • Resolution
  • dpi
  • Deployment size
  • 347.15(KB)*
  • Special instruction

*File size when opened in Photoshop, etc.

Similar Images & Videos
    TBS to issue new shares, move seen as takeover defense

    TBS to issue new shares, move seen as takeover defense

    TOKYO, Japan - Financier Yoshiaki Murakami (R) speaks at a press conference at the Tokyo Stock Exchange on Aug. 31 after Tokyo Broadcasting System Inc. announced plans to raise a total of about 28 billion yen by selling new and outstanding shares to Dentsu Inc. and three other companies. Murakami tacitly criticized the TBS move, saying, ''In capital increases, it should be taken into account whether there are real fund needs.'' Murakami declined to comment on whether he owns TBS shares.
      TBS to issue new shares, move seen as takeover defense

      TBS to issue new shares, move seen as takeover defense

      TOKYO, Japan - Tokyo Broadcasting System Inc. Managing Director Keizo Zaitsu (L) speaks as Executive Director Kenichiro Kidokoro looks on at a press conference in Tokyo on Aug. 31. Zaitsu said TBS will raise a total of about 28 billion yen in September by selling new and outstanding shares to Dentsu Inc. and three other companies to help finance new mobile phone and Internet-related businesses. The step is being regarded as a measure to increase friendly long-term shareholders and discourage a hostile takeover, since an investment fund led by financier Yoshiaki Murakami has reportedly acquired some TBS shares and is eyeing a management buyout. (Kyodo)