Major fashion apparel manufacturer World Co. said Monday it will proceed with a management buyout plan in a bid to turn itself into a privately owned company.
If World does delist, it would constitute Japan's first management buyout not intended to restructure a company.
The move by the Kobe-based firm, which is listed on the Tokyo Stock Exchange and Osaka Securities Exchange, is apparently intended to keep hostile takeover bids in check, observers said.
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