Asia Development: Tokyo Machinery to Withdraw!! 8% is held, remaining 32% to be shed!!

Asia Development Capital, an investment company that holds shares in Tokyo Kikai Seisakusho, a major manufacturer of newspaper rotary presses, announced on the 25th that it would sell the majority of its stake to six newspaper companies. Of the approximately 40% it owned, 32% will be transferred. Among this, Yomiuri Shimbun Tokyo Headquarters will acquire 25%, becoming the top shareholder. Tokyo Kikai and Asia Development have continued to clash over management control, but the situation is expected to be resolved.