Joyful Co., Ltd. (parent company owning 52.46% of shares) is executing a stock consolidation of Friendly Co., Ltd. to take the company private. The consolidation will result in fractional shares held by minority shareholders being sold to Joyful, with minority shareholders receiving 315 yen per reference share as compensation (subject to court approval).
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Summary
Joyful Co., Ltd. (parent company owning 52.46% of shares) is executing a stock consolidation of Friendly Co., Ltd. to take the company private. The consolidation will result in fractional shares held by minority shareholders being sold to Joyful, with minority shareholders receiving 315 yen per reference share as compensation (subject to court approval).