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Shares of Zensho Holdings decline following the announcement of the passing of its founder, Kentaro Ogawa
Shares of Zensho Holdings <7550> traded lower. Around 9:00 a.m. at the market open, the company announced that Kentaro Ogawa, its founder, Representative Director, and Chairman, passed away on the 6th at the age of 77. Consequently, he stepped down as Representative Director on the same day. Mr. Ogawa founded Zensho in 1982. He assumed the roles of Representative Director, Chairman, and President of Zensho Holdings in 2011, and had served as Representative Director and Chairman since 2025.
The stock tumbled by more than \360 from the previous day's close of \9,351, briefly dipping below the \9,000 level. Selling pressure intensified as some market participants expressed concerns regarding the company's future management outlook and leadership transition following the loss of its long-time leader.
Source: MINKABU PRESS
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