Rex’s appeal was dismissed

May 29, the appeal with permission of Rex Holdings Inc. was dismissed by Supreme Court of Japan.

Rex is a holdings company which have restaurants and stores.

In 2006, Rex’s manager made a tender offer and amended in Articles of Incorporation, finally Rex went private. 

The dissenting shareholders demanded their stocks Rex purchase at the fair price rely on Companies Act.

The agreement about the price was not reached, so the shareholders filed a petition to the court for a determination of the fair price.

Tokyo High Court decided 330 thousand yen to one share, it is higher than that of Tokyo District Court.

Rex was dissatisfied with the price, and filed a appeal with Supreme Court, but it was dismissed.