Following the well-publicised failed attempt by Brother Industries to take-over Roland DG, the wide format manufacturer will delist from the Tokyo Stock Exchange on September 3rd and will thereafter be in private hands, with Taiyo Pacific as the majority stakeholder.
Roland DG Corporation has announced that it will be delisted from the Tokyo Stock Exchange (TSE) Prime Market and will become a private company. This decision follows the approval of a share consolidation and the abolition of the provision on share units at the company’s Extraordinary Shareholders’ Meeting.
As a result of the share consolidation, Roland DG’s common stock will no longer meet the listing criteria of the TSE. The company’s shares will be delisted on September 3rd, 2024.
The decision to go private is part of a management buyout (MBO) led by Taiyo Pacific Partners. This move aims to enhance management efficiency and flexibility, allowing Roland DG to focus on its long-term growth strategy.
Following the delisting, Roland DG will continue to operate under its current name and management, so 'business as usual.' The company will be acquired by a subsidiary of Taiyo Pacific Partners through a tender offer. Taiyo already controls Roland Corporation - maker of musical instruments and amplifiers - with CEO Brian Heywood sitting on both boards.
Business as usual after September 3rd for Roland DG - in private hands
