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Rinnai Corp (5947.T)

5947.T on Tokyo Stock Exchange

9 Dec 2016
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Latest Key Developments (Source: Significant Developments)

RINNAI completes raising stake in GASTAR Co.,Ltd.
Friday, 1 Apr 2016 02:00am EDT 

RINNAI CORP:Completed raising stake in GASTAR Co.,Ltd. to 90.0 pct from 44.1 pct.  Full Article

RINNAI to acquire shares of GASTAR
Monday, 15 Feb 2016 02:00am EST 

RINNAI CORP:To acquire shares of GASTAR Co.,Ltd. (11.1 pct stake owned) from Tokyo Gas and LIXIL, and to hold 451,800 shares in GASTAR up from 133,000 shares.Says will acquire 92,000 shares of GASTAR from LIXIL on March 25 for 1,876 mln yen and to acquire 226,800 shares of GASTAR from Tokyo Gas on April 1 for 4,626 mln yen.Says after this acquisition and GASTAR's share buyback (from Feb. 15 to April 30), the company expected to hold 90 pct voting rights in GASTAR.  Full Article

RINNAI CORP lowers consolidated full-year outlook for FY 2015
Friday, 6 Feb 2015 01:30am EST 

RINNAI CORP:Says the company lowered the consolidated full-year outlook for revenue to 295,000 million yen from 313,000 million yen for the fiscal year ending March 31, 2015.Sees a decrease of operating profit forecast to 30,500 million yen from 36,500 million yen.Sees a decrease of ordinary profit forecast to 33,000 million yen from 37,800 million yen.Sees a decrease of net profit forecast to 20,200 million yen from 23,800 million yen.Sees a decrease of earnings per share to 388.43 yen from 457.64 yen.FY 2015 revenues of 300.89 billion yen, net profit of 21.65 billion yen – Thomson Reuters I/B/E/S.Comments that decreased demand is the main reason for the forecast.  Full Article