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Article: Kokudo to buy back Seibu Railway shares from at least 20 firms.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- November 9, 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. 9--TOKYO -- Kokudo Corp. is likely to accept demands by more than 20 companies to buy back the shares in Seibu Railway Co. it sold to them, a senior official of the core company of the Seibu business group said Monday.
Kokudo sold shares in Seibu Railway, a major member of the group, to more than 50 companies earlier this year, and more than 20 of them have demanded that Kokudo repurchase the shares at the price of transactions, he said.
"We have to show sincerity," the Kokudo official said, adding its repurchases will be made either at the price of the earlier transactions or in a way that compensates the firms for the losses incurred from the ...