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Odakyu, Mitsubishi Electric Urge Kokudo to Buy Back Seibu Railway Shares.
(From Jiji)
Tokyo, Oct. 22 (Jiji Press)--Kokudo Corp. is facing demands to buy back Seibu Railway Co. shares that it sold to Odakyu Electric Railway Co. and Mitsubishi Electric Corp. in doubtful deals, informed sources said Friday.
Odakyu earlier Friday urged Kokudo to buy back 2.6 million Seibu Railway shares worth 3 billion yen. Mitsubishi Electric on Thursday called for the repurchase of 200,000 shares for 220 million yen.
Wacoal Corp. , a major women's underwear maker, has already demanded Kokudo buy back 2.82 billion yen of Seibu Railway shares.
Odakyu, Mitsubishi Electric and Wacoal are among more than 30 companies that have purchased Seibu Railway shares from Kokudo at its request in the past few months.
The three companies complained that Kokudo sold the shares without telling them that Seibu Railway has been in a situation in which its shares could be delisted from the Tokyo Stock Exchange.
Seibu Railway has underreported its top ...
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