4 million driven by proceeds from divestures
in the amount of EUR 79.
Our purpose is not to complement the previously cited literature in evaluating the diversification strategy of Japanese firms, but instead to focus on portfolio restructuring in Japan from the perspective of both divesture activities and related-asset expansion activities.
Firms with close bank ties face less pressure to make abrupt cuts in employees or engage in divesture restructuring because they are assured of funding, even given a poor performance (Hoshi/Kashyap 2001).
TRI expects the divesture to be completed before the end of the year.
Fitch believes that the divesture will have a nominal increase on leverage (increase gross and net leverage by less than 0.
The 142 basis-point increase was driven by higher incentive compensation, store divesture
expenses and continued strategic capability investments to improve the Company's gross profit rate and accelerate the Commercial business.
Adjusted operating income (operating income before loss on product divestures
, litigation settlement and executive severance charges) for the fiscal year rose to $75.
The company should have slightly over 900 million proven boe post divestures
We believe this evaluation and resultant growth strategy will strengthen the Company and produce transactions such as we announced today, as well as complementary acquisitions, potential divestures
and continuing realignment of the Company's operational infrastructure.
Other factors affecting credit quality under current industry conditions include strategic acquisitions and divestures
of noncore assets.