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Article: Kirin Brewery asks Kokudo to buy back Seibu Railway shares.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- November 6, 2004
CopyrightCOPYRIGHT 2004 Kyodo News International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nov. 6--TOKYO -- Kirin Brewery Co. said Monday it has asked Kokudo Corp. to buy back 2 million shares in Seibu Railway Co. it bought from Kokudo, bringing the number of firms publicly announcing their demand for the railway shares to be repurchased to eight.
The brewery, which bought the Seibu Railway shares in late September for 2 billion yen at the request of Kokudo, said it has demanded that the de facto parent of the railway operator return the money as the railway firm's stock price has fallen to its lowest level this year following a scandal involving Seibu Railway's incorrect financial statements.
A total of 36 companies are known to have ...