, Columnist
In Tokyo, Being a Listed Company Is Losing Its Luster
As the country gets serious about boosting stock valuations, more and more businesses are deciding they’d rather not be public firms. That’s to be celebrated.
Out of favor.
Photographer: Akio Kon/BloombergThis article is for subscribers only.
Some of Japan’s most notable companies are feeling somewhat listless about being listed.
That might be the reason for the $5 billion take-private offer for Taisho Pharmaceutical Co., the largest management buyout in Japanese history, announced last week. With the founding Uehara family in control of a majority of shares, most expect the proposal to succeed even in the face of grumblings from minority shareholders, bringing to an end six decades as a public firm.