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Investing.com -- Fuji Media Holdings plans to sell 10.6 million shares of Toei Animation through an overseas secondary offering, representing approximately 5% of outstanding shares.
The transaction will reduce Fuji Media’s ownership stake in the animation company to about 3%, according to details of the planned sale.
This share divestment aligns with Fuji Media’s ongoing strategy to reduce cross-shareholdings. The block placement method chosen for the transaction is designed to avoid putting pressure on the market.
The sale is expected to improve Toei Animation’s liquidity while removing a potential market overhang. Despite the reduction in ownership, the commercial partnership between the two Japanese media companies will remain intact.
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