TYO:6703

Oki Electric Industry Expects 5.1 Billion Yen Gain from Sale of Hulic Shares

Oki Electric Industry (TYO:6703) expects a 5.1 billion yen gain on sale of investment securities, following its decision to participate as a selling shareholder in Hulic's (TYO:3003) secondary offering.The company has finalized the sale of 10 million Hulic shares for a total of 16.2 billion yen. The per-share underwriting price was set at 1,615.26 yen.As a result, it will book the 5.1 billion yen gain as extraordinary income in the first quarter of fiscal year ending March 31, 2027, according to a Tokyo bourse filing on Friday.This anticipated gain has already been factored into the consolidated earnings full-year forecast released on May 13.

Oki Electric Industry to Sell 10 Million Shares in Hulic

Oki Electric (TYO:6703) will dispose of 10 million common shares in Hulic (TYO:3003), as part of the latter's secondary share offering, according to a Thursday filing with the Tokyo Exchange.The sale price will be determined between May 21 and May 22, the filing added.

Nomura Starts Oki Electric Industry at Buy with 4,200 Yen Price Target