Hankyu opposed to listing of Takarazuka Revue.
Hankyu Holdings Inc. President Kazuo Sumi on Friday expressed his firm opposition to a financier's reported plan to propose that the Hankyu group list Takarazuka Revue Co., a popular all-female acting troupe owned by Hankyu, on a stock exchange.
He was answering reporters' questions about the plan by Kenzo Matsumura whose Tokyo-based Privee Zurich Turnaround Group Co. has become the largest shareholder of Hankyu Holdings.
''If Takarazuka Revue is listed on an exchange, it may fail,'' Sumi said. ''We should not allow the troupe with a history of more than 90 years to go under.''
Takarazuka Revue has remained in red ink for a long time, Sumi said, indicating any entertainment company alone has difficulties in producing profit.
But he emphasized that Hankyu should continue to own Takarazuka Revue to maintain its corporate value since the troupe can produce synergy effects with other Hankyu businesses including railway transportation and property development.
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|Publication:||Asian Economic News|
|Date:||Jan 17, 2006|
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