制卧台贸易上兰 金融英语阅读 stake that Ito-Yokado owns in Seven-Eleven Japan as treasury stock,which is normally excluded from calculations of common stock. "It's unfair to Ito-Yokado shareholders,"said Masanao Yoshitake,who holds both Ito-Yokado and Seven-Eleven Japan among the US$I billion in Japanese equities he manages at RCM Japan Ltd in Tokyo.Creating a holding company is "just a good excuse for them"to establish a takeover defense strategy. Denny's shares fell by as much as 4.4 per cent to 1,897 yen. All three companies are based in Tokyo. Ito-Yokado,which began as a family-owned clothing store in 1913,said on April 7 that full-year profit fell by 68 per cent last year as it accounted for the cost of closing shops and the lower value of assets.The company forecast a four-fold profit increase in the current business year to 63.7 billion yen as it starts to see the benefits of a reorganization begun earlier this year.(US$1=107 yen) Hostile bid Fuji Television Network Inc,Japan's biggest broadcaster,agreed on April 18 to pay Internet portal Livedoor Co about 147.4 billion yen to end a two-month hostile bid for radio affiliate Nippon Broadcasting System Inc.Fuji TV will take a 12.8 per cent stake in Tokyo-based Livedoor as part of the settlement. Tokyo-based Nippon Broadcasting's most valuable asset is its 22.5 per cent stake in Fuji TV,which is worth almost two-thirds of its US$1.9 billion market value. Livedoor's Horie targeted Nippon Broadcasting,in part,to possibly influence Fuji TV. "We cannot specifically name them as the direct reason for this move,but it is true that we thought about them,and they were part of the reason to resolve the skewed capital relations,"Ito-Yokado chairman Toshifumi Suzuki said on Wednesday at a press conference when asked if Livedoor's takeover bid influenced the decision to form a holding company. Suzuki said that the companies began planning the change about two months ago. Livedoor began its takeover bid for Nippon Broadcasting on February 8 by buying a 29.6 per cent stake. 第2页共2页金融英语阅读 stake that Ito-Yokado owns in Seven-Eleven Japan as treasury stock, which is normally excluded from calculations of common stock. "It's unfair to Ito-Yokado shareholders," said Masanao Yoshitake, who holds both Ito-Yokado and Seven-Eleven Japan among the US$1 billion in Japanese equities he manages at RCM Japan Ltd in Tokyo. Creating a holding company is "just a good excuse for them" to establish a takeover defense strategy. Denny's shares fell by as much as 4.4 per cent to 1,897 yen. All three companies are based in Tokyo. Ito-Yokado, which began as a family-owned clothing store in 1913, said on April 7 that full-year profit fell by 68 per cent last year as it accounted for the cost of closing shops and the lower value of assets. The company forecast a four-fold profit increase in the current business year to 63.7 billion yen as it starts to see the benefits of a reorganization begun earlier this year. (US$1=107 yen) Hostile bid Fuji Television Network Inc, Japan's biggest broadcaster, agreed on April 18 to pay Internet portal Livedoor Co about 147.4 billion yen to end a two-month hostile bid for radio affiliate Nippon Broadcasting System Inc. Fuji TV will take a 12.8 per cent stake in Tokyo-based Livedoor as part of the settlement. Tokyo-based Nippon Broadcasting's most valuable asset is its 22.5 per cent stake in Fuji TV, which is worth almost two-thirds of its US$1.9 billion market value. Livedoor's Horie targeted Nippon Broadcasting, in part, to possibly influence Fuji TV. "We cannot specifically name them as the direct reason for this move, but it is true that we thought about them, and they were part of the reason to resolve the skewed capital relations," Ito-Yokado chairman Toshifumi Suzuki said on Wednesday at a press conference when asked if Livedoor's takeover bid influenced the decision to form a holding company. Suzuki said that the companies began planning the change about two months ago. Livedoor began its takeover bid for Nippon Broadcasting on February 8 by buying a 29.6 per cent stake. 第 2 页 共 2 页