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Nisshin OilliO Group, Ltd. ( (JP:2602) ) has issued an announcement.
Nisshin OilliO Group, Ltd. has announced the transfer and acquisition of fixed assets as part of its strategic resource optimization and expansion plans. The company will transfer a commercial land asset in Yokohama, generating an estimated gain of 23.1 billion yen, which will be recorded as extraordinary income in the next fiscal year. Concurrently, Nisshin OilliO will acquire a larger commercial land asset to expand its Yokohama Isogo Complex, with a lease-back arrangement allowing the current occupant to vacate by March 2031. These transactions are not expected to impact the current fiscal period’s business results but position the company for future growth.
More about Nisshin OilliO Group, Ltd.
Nisshin OilliO Group, Ltd. operates in the food industry, primarily focusing on the production and distribution of edible oils and related products. The company aims to optimize its business resources and expand its operational sites to enhance its market presence.
YTD Price Performance: -4.05%
Technical Sentiment Consensus Rating: Hold
Current Market Cap: €989.6M
Find detailed analytics on 2602 stock on TipRanks’ Stock Analysis page.