|Bid||12,695.00 x 0|
|Ask||12,720.00 x 0|
|Day's range||12,585.00 - 13,070.00|
|52-week range||9,456.00 - 14,510.00|
|Beta (5Y monthly)||0.60|
|PE ratio (TTM)||37.94|
|Forward dividend & yield||90.00 (0.72%)|
|Ex-dividend date||30 Mar 2021|
|1y target est||N/A|
(Bloomberg) -- A group of hackers executed a ransomware attack on Hoya Corp, marking the second successful attack suffered by the Japanese firm in two years.”We can confirm that Hoya Vision Care US has experienced a cyberattack. Based on our initial forensics, the disruption appears to have been limited to our United States systems,” a Hoya spokesperson said. “After identifying the threat, we quickly took action to contain it and contacted law enforcement. The company has engaged external experts to determine the nature and scope of this event. We will provide updates as more information becomes available.”Hoya, named after the West Tokyo neighborhood where it was founded in 1941, is a glassmaker with about 37,000 employees worldwide and about $5 billion in annual revenue. The company gets last year 65% of its sales from contact lenses and glasses, while the rest comes Information technology devices and services such glass substrate used in the manufacturing of semiconductors and hard disk drives, according to 2020 company’s report.The hacker group called Astro Team said on its blog last week that it targeted Hoya servers and stole about 300 gigabytes of confidential corporate data including finance, production, email messages, passwords and safety reports.In 2019, Hoya suffered a major cyberattack, infectong over 100 computers and forcing the company to shut down its factories for three days.”Ransomware attacks are more disruptive than ever and companies not only have to deal with the encryption of their data, but also the theft and possible release of it,” Brett Callow, a threat analyst for Emsisoft said in an interview. It’s an increasingly common problem with more than 1,300 public and private sector organizations globally having had their data stolen and posted online last year, he added.In late 2019 Hoya offered to spend as much as 147.7 billion yen ($1.36 billion) for NuFlare Technology Inc., seeking control of the Toshiba Corp. affiliate in a rare hostile takeover bid among Japanese companies. Despite it’s higher offer, Hoya was beat by Toshiba that in January of last year succeeded in its tender offer to buy out other shareholders of NuFlare and take the unit private.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Japan’s Kioxia Holdings Corp. is focused on pursuing an initial public offering as soon as this summer, rather than engaging with potential foreign acquirers and navigating foreign regulatory approvals, according to four people familiar with the matter.The maker of memory chips sees an IPO as the most promising route to realizing value for shareholders, including Toshiba Corp. and Bain Capital, said the people, asking not to be named because the deliberations are private. Their comments came after the Wall Street Journal reported Micron Technology Inc. and Western Digital Corp. are each exploring a potential deal for Kioxia.The Tokyo-based company, which makes NAND flash memory chips, has been planning to go public since Toshiba sold a majority stake in the business to a consortium in 2018, including Bain, Apple Inc. and SK Hynix Inc. The timing for an IPO has slipped because of volatility in the memory-chip market, but stakeholders still believe a public offering is the best option for raising cash and rewarding shareholders, the people said.Kioxia could be valued at more than $36 billion in the current market, said Hideki Yasuda, an analyst at Ace Research Institute. Investor appetite for IPOs has surged in recent months, with tech companies such as Coupang Inc. and DoorDash Inc. soaring since their debuts.A Kioxia spokesman said the company won’t comment on speculation, but it would continue to seek the appropriate time for the IPO. Toshiba issued a statement saying it’s aware of media reports on a potential deal, but it’s not familiar with the details of the reports and couldn’t comment.Any potential acquisition would face steep regulatory hurdles, which could delay or kill a deal. The Japanese government opposed the sale of Toshiba’s chip business to a foreign buyer three years ago -- a key reason Toshiba and Japan’s Hoya Corp. together took a majority stake in Kioxia.Perhaps more importantly, the Chinese government would have to sign off on any agreement and its regulators are likely to resist letting an American company take over such a valuable business given the rising tensions between the two countries. A key area of dispute between the U.S. and China is the semiconductor industry, which the Trump administration used to punish Chinese tech players such as Huawei Technologies Co.Applied Materials announced earlier this week that it terminated a plan to acquire Kokusai Electric Corp. as it couldn’t get regulatory approval in a timely fashion.Read More: Applied Materials, Kokusai Electric Acquisition Pact TerminatesA Western Digital or Micron purchase of Kioxia would consolidate the NAND memory market, reducing the number of top players to four from five. That could benefit the companies by lowering costs and improving profits, though it may also draw antitrust scrutiny.“The NAND memory industry may be structurally improved by consolidating if either Micron or Western Digital acquires Kioxia,” Bloomberg Intelligence analysts Anand Srinivasan and Marina Girgis wrote in a research note. “Micron is in a better financial position to pull it off and could benefit more in terms of margins, capacity, technology and capital spending. Regulators, especially in China, would closely eye such a merger.”Micron and Western Digital rose 4.8% and 6.9% in U.S. trading Thursday. Toshiba gained 4.6% in Tokyo Thursday and traded less than 1% higher on Friday.A deal for Kioxia is unlikely, said one of the people familiar with the matter. The company is not engaged in any acquisition talks, though it’s possible shareholders such as Bain are considering alternatives to an IPO, said another person.It’s not clear whether investors would be able to press Kioxia into a potential buyout. Hynix competes in the memory-chip business so it may be reluctant to see Kioxia fall into the hands of a rival.The Nikkei newspaper reported that Western Digital and Micron had queried Kioxia about a possible acquisition, but the talks fizzled.(Updates with analyst comments in tenth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Hoya Corp. (HOCPY) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.