TYO:6135

4 stories mentioning TYO:6135

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Makino Milling Opposes Share Buyback Proposal

Makino Milling Machine (TYO:6135) opposed a shareholder proposal from Futanami Securities calling for a share buyback, according to a Thursday filing on the Tokyo Stock Exchange.The proposal sought the repurchase of up to 1% of outstanding shares at 11,751 yen per share via off-auction trading. The company said the request was unclear in structure and, even when interpreted as a general buyback proposal, was not appropriate.Makino said its capital policy prioritises sustained investment in manufacturing, technology development, production systems and global sales networks, alongside shareholder returns through dividends.The company highlighted its medium-term plan, including 71 billion yen in investments through fiscal 2030 and a total payout ratio target of 60% on average.It also pointed to planned dividend increases, including a year-end payout of 270 yen per share for fiscal 2026 and a total of 340 yen per share for fiscal 2027, compared with 180 yen in fiscal 2025.

$FUTANAMITYO:6135

Asia45d ago

Japan Stocks Gain on Intervention Signals, Yen Rebounds

Japanese shares closed higher on Friday, with sentiment supported after Tokyo signaled readiness to step into currency markets to curb volatility driven by speculative moves in crude-linked trades.The Nikkei 225 rose 0.38%, or 228.20 points, to close at 59,513.12.Atsushi Mimura, Japan's vice finance minister for international affairs, said authorities stand ready to respond to market distortions linked to speculative trading in crude oil futures.Japan moved into the currency market on Thursday to support the yen, according to people familiar with the matter, with U.S. officials alerted in advance in line with Group of Seven practices. The yen traded around 157.19 per dollar in Tokyo on Friday morning, after strengthening to 155.57 the previous day from an intraday low near 160.72.In other economic news, Tokyo core inflation slowed to 1.5% in April, marking a fifth straight deceleration and staying below the Bank of Japan's 2% target, while a key underlying gauge eased to 1.9%.Japan's consumer confidence index fell 1.1 points to 32.2 in April, with weaker sentiment on spending and livelihoods, even as 93.6% of households expected prices to rise over the next year.On the corporate front, Marubeni (TYO:8002) fell 4% after reporting an 8.1% rise in annual profit to 543.85 billion yen and forecasting 580 billion yen for the current year.Makino Milling Machine (TYO:6135) rose 5% after MM Holdings dropped its takeover bid following a government recommendation citing national security concerns.Air Water (TYO:4088) slid 14% after the Tokyo Stock Exchange designated its shares as a security on alert and imposed a listing rule violation penalty.

Nikkei 225TYO:4088TYO:6135TYO:8002

Asia45d ago

MM Holdings' Takeover Bid for Makino Milling Machine Scrapped After Government Pushback

Makino Milling Machine (TYO:6135) said MM Holdings will not proceed with a planned tender offer to acquire its shares after accepting a government recommendation to halt the deal, according to a delayed Friday filing on the Tokyo Stock Exchange.MM Holdings said it accepted a recommendation from Japan's finance and industry ministries under the Foreign Exchange and Foreign Trade Act and terminated its tender offer agreement with Makino, effective April 30.The authorities determined the proposed acquisition raised national security concerns, citing Makino's production of high-performance machine tools used by defense manufacturers and its possession of related technologies and data.MM Holdings said it had engaged with regulators for about 10 months and proposed mitigation measures, but ultimately decided not to proceed.

TYO:6135

Asia53d ago

Market Chatter: Japan Orders MBK Partners to Halt Makino Acquisition in Rare National Security Case

The Japanese government has instructed Seoul-based private equity firm MBK Partners to cancel its planned acquisition of machine tool maker Makino Milling Machine Co (TYO:6135), citing national security concerns, according to media reports on Thursday.Finance Minister Satsuki Katayama told parliament that after reviewing risks to domestic production and technology leakage, the industry ministry deemed the investment a national security threat, Reuters News reported on the same day.The government classifies machine tools as highly sensitive goods with significant potential for military diversion, and the industry is designated a core sector under the Foreign Exchange and Foreign Trade Act, Nikkei Asia said.Machine tools are seen as highly sensitive goods with strong military diversion potential, Bloomberg News reported, citing Makino's exchange filing.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:6135