House Foods May Sell Curry Restaurant Unit Ichibanya

Tokyo, Aug. 31 (Jiji Press)--Japan's House Foods Group Inc. is considering selling listed subsidiary Ichibanya Co., the operator of the restaurant chain Curry House CoCo Ichibanya, or CoCo Ichi, it was learned Monday.

The major food maker is apparently looking to streamline its group business structure, according to sources familiar with the matter.

In a statement Monday, House Foods said that the company is "considering all available options," including the delisting of Ichibanya, "with a view to enhancing corporate value and shareholder value."

House Foods acquired Ichibanya in 2015 through a tender offer. Ichibanya has remained a publicly listed company since then.

Ichibanya, listed on the Tokyo Stock Exchange's top-tier Prime section, was owned about 51 pct by House Foods as of February this year.

[Copyright The Jiji Press, Ltd.]