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MARCHE shares firm as company shifts from affiliate to subsidiary of TENPOS HOLDINGS
MARCHE CORPORATION <7524> traded firmly. After the close of trading on the 18th, the company announced it will conduct a third-party allotment of new shares to TENPOS HOLDINGS Co.,Ltd <2751>, raising 986,000,000 yen (net proceeds after deductions). The funds will be allocated to new store openings, costs for transforming existing business models, and expenses for establishing an e-commerce business. As a result, MARCHE will shift from being an equity-method affiliate of TENPOS HOLDINGS to a subsidiary.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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