Nintendo family office ends bid for Toyo Construction

Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.

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Dec 22, 2023

9 months ago

The Yamauchi No. 10 Family Office (YFO), which manages the fortune of the founding family of videogame legend Nintendo, ended a long struggle to gain control of the marine engineering firm Toyo Construction.

The decision comes in the wake of Toyo's move last week to reject YFO's latest offer due to a price of 1,255 yen ($8.73) per share, which is lower than the stock price around early December.

The decision surprised some, since YFO-backed directors have had a majority on Toyo's board since June.

The two sides differed in their growth strategies, with Toyo having an ambitious five-year plan that looked beyond Japan and YFO pushing back that the overseas plans were too optimistic.

Toyo's shares hit a year-to-date high of 1,372 yen in November but fell after the company announced its opposition to the tender offer, closing at 1,207 yen Wednesday.

Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.