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Nisshinbo Holdings to Sell Two Million Shares in Shikoku Kasei Holdings

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Nisshinbo Holdings (TYO:3105) said it will sell two million shares in Shikoku Kasei Holdings Corp (TYO:4099) through a public offering to improve asset efficiency and strengthen its financial position.

The Japan-based company said that the sale price is expected to be finalized between Sept. 9 and Sept. 14, according to a Tokyo Stock Exchange filing on Tuesday.

The company expects to record extraordinary income from the sale of investment securities in the third quarter of its fiscal year ending Dec. 31.

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