Daiwa rebounds sharply after 5 sessions on expectations of earnings improvement from Kanazawa New Grand Hotel sale
Daiwa Co.,Ltd. <8247> rebounded sharply, snapping a five-session losing streak, after the company announced following the close of trading on the 1st that it would sell all shares of its consolidated subsidiary, Kanazawa New Grand Hotel, to a third party. The move appeared to attract buying interest from investors anticipating earnings improvements through the company's efforts to focus on its core business.
The buyer and sale price were not disclosed. Kanazawa New Grand Hotel posted a net loss of 1.634 billion yen for the fiscal year ending February 2026, compared with a loss of 370 million yen in the prior fiscal year. The transfer of shares and receivables is scheduled for October 1. Daiwa expects to book an extraordinary loss of approximately 10 billion yen in its consolidated financial results for the fiscal year ending February 2027, related to the loss on transfer of receivables. The company stated that the sale will accelerate its efforts to optimize the allocation of management resources, strengthen its financial base, and improve profitability.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
Related Articles
-
Tokyo Prime market breadth at 3 p.m.: 152 gainers vs. 1,368 decliners
Wed Sep 2, 2026 3:04 pm JST Market -
TIER IV outperforms peers, boosted by autonomous driving demand and TOPIX inclusion speculation
Wed Sep 2, 2026 2:58 pm JST Catalyst -
JGC HOLDINGS shows resilience after subsidiary selected for JAXA next-generation space chamber system feasibility study
Wed Sep 2, 2026 2:57 pm JST Catalyst -
Sumitomo Metal Mining tumbles sharply as gold price decline sparks selling across nonferrous metal stocks
Wed Sep 2, 2026 2:42 pm JST Catalyst -
Sekisui Jushi holds firm as company to book gain on sale of SHIKOKU KASEI HOLDINGS CORPORATION <4099> shares
Wed Sep 2, 2026 2:31 pm JST Catalyst -
jig.jp tops 'rising buy forecasts' ranking on Minkabu individual investor survey
Wed Sep 2, 2026 2:19 pm JST Catalyst -
Zenken shares hold firm as employee review platform 'VOiCE' surpasses 500 corporate clients
Wed Sep 2, 2026 2:05 pm JST Catalyst -
Market breadth at 2 p.m.: 107 gainers vs. 1,421 decliners on TSE Prime
Wed Sep 2, 2026 2:04 pm JST Market -
DAIICHI SANKYO COMPANY shares hold firm after ENHERTU combination therapy receives partial approval in Europe
Wed Sep 2, 2026 1:52 pm JST Catalyst -
Nisshinbo Holdings holds firm as company plans to book extraordinary gain on partial sale of SHIKOKU KASEI HOLDINGS CORPORATION <4099> shares
Wed Sep 2, 2026 1:35 pm JST Catalyst