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Nojima buys more TAG shares
Japanese electronics retailer, Nojima Corporation bought another 3.7 million shares of Tran Anh Digital World JSC (TAG) on June 8, the Vietnam Securities Depository said.
The buying of the shares, which belonged to Aureos Southeast Asia Fund and are equal to a 21 per cent stake in TAG, has increased the total holding of the Japanese corporation to 30.92 per cent, making it the largest foreign shareholder of TAG.
TAG is one of the leading electronics firms in northern Viet Nam, with a chain of 15 stores. It plans to open seven to nine more stores to serve the northern region.
In Q1, 2015, TAG earned VND872.67 billion (US$40 million) in revenue, an increase of 44 per cent over the same period last year and after-tax profit of VND3.9 billion ($178,899), up 11.5 per cent year on year. It plans to earn total revenue of VND3.3 trillion ($151.3 million) and net profit of VND7.8 billion ($ 357,798) in 2015.
According to Bloomberg.com, Nojima Corporation operates consumer electronic chains that specialise in computers and communication products. The company also sells entertainment-related items such as game software and CDs, and household appliances, and has franchise stores in Kanagawa Prefecture.
Each TAG share closed at VND24,000 ($1.1) on June 10 on the HCM City Stock Exchange.
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