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TOKYO, November 28, 2022–(BUSINESS WIRE)–Hibiki Path Advisors (“Hibiki” or “We”), a value-oriented engagement investor, despatched our formal letter to the board of Star Mica Holdings Co. Ltd (2975), E’Grand Co. Ltd (3294), and Intellex Co. Ltd (8940) respectively with request measures to revamp company worth on 24 November 2022.
Above three firms have been the most important gamers in second-hand Condominium revitalization and gross sales enterprise since early days. By way of their respective and distinctive enterprise knowledge, they’ve contributed to the Japanese housing market by increasing the availability of high quality assured and fairly priced second-hand condominiums.
Whereas we have now an especially optimistic view when it comes to growth of the second-hand condominium market because of the ongoing up-trend for a sustainability-based consumption, we’re dissatisfied with the present inventory worth valuation of those three firms which are at the moment categorized as “rising actual property corporations”. We consider that it’s obligatory for them to respectively enhance capital insurance policies and IR measures in addition to to additionally take into account dynamic measures or concepts that goes past the extent of particular person firms. As such, we have now proposed the next suggestions for every of the three firms.
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Modified of branding to give attention to “Sustainable Housing (Condominium)”
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Examination of Strategic Alliance between Completely different Teams
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Consideration of Single or Joint MBOs
We’re open to discussing our suggestions with a wider viewers, not solely with the administration of every firm but additionally with different shareholders and enterprise associates. We hereby publish the letter despatched to the businesses on 24 November 2022.
Letter to Star Mica Holdings Co. Ltd.
Letter to E’Grand Co. Ltd.
Letter to Intellex Co. Ltd.
View supply model on businesswire.com: https://www.businesswire.com/information/residence/20221127005005/en/
Contacts
Hibiki Path Advisors Pte. Ltd.
Chief Funding Officer
Yuya Shimizu
www.hibiki-path-advisors.com
data@hibiki-path-advisors.com
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