Japan's LIXIL denies delisting move, but stock jumps 7% on news

Japan's LIXIL denies delisting move, but stock jumps 7% on news

Photo: Reuters

LIXIL Group Corp on Monday denied a report it had considered delisting from Japan through a management buyout (MBO) and moving its headquarters to Singapore, but investors welcomed the report anyway, sending the stock up 7 percent.

The Nikkei Business reported on Monday that LIXIL’s board decided last year to consider the plan, which had been opposed by former President and Chief Executive Kinya Seto, who abruptly resigned in late October.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter