Worth reading
36Immaterial
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
100
% (ownership ratio of issued shares and voting rights in the target company)Wording
Conditional
How definitive the wording is.This transaction
The transaction (establishment of the joint venture and transfer of the generic drug business by the joint venture)CounterpartyDaito Pharmaceutical Co.,Ltd., Development Bank of Japan Inc., KYORIN Pharmaceutical Co.,Ltd.
Disclosing companyMeiji Holdings Co.,Ltd.
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
Manufacture and sale of pharmaceuticals, etc.
Location Kanazawa, Ishikawa PrefectureShare capital ¥100 millionDate of incorporation 15 October 1947
Consideration and expenses
Funding arrangementsInvestment by DBJ through its subscription for preferred shares in the joint venture (the breakdown of the total acquisition funding is not disclosed)
Impact on Business Performance
The impact on Meiji Holdings' consolidated results for the fiscal year ending March 2027 will be immaterial, and no revision will be made to the consolidated earnings forecasts for the current fiscal year.
Procedures and assumptions
Management structure after acquisitionThe joint venture is scheduled to be established in December 2026, with Tsuji Kazumi (辻和美) scheduled to serve as representative director. The ownership ratios will be 49.1% for Daito, 36.0% for Meiji Seika Pharma and 14.9% for DBJ. The joint venture is expected to become an equity-method affiliate of Daito and Meiji Seika Pharma. The target company's corporate name and employee treatment are Not disclosed.
| Item | Details |
|---|---|
| Transaction name | The transaction (establishment of the joint venture and transfer of the generic drug business by the joint venture) |
| Counterparty name | Daito Pharmaceutical Co.,Ltd., Development Bank of Japan Inc., KYORIN Pharmaceutical Co.,Ltd. |
| Name of the Subject Company | キョーリン リメディオ株式会社 |
| Business Description of the Subject Company | Manufacture and sale of pharmaceuticals, etc. |
| Location of the Subject Company | Kanazawa, Ishikawa Prefecture |
| Capital Stock of the Subject Company | ¥100 million |
| Date of Establishment of the Subject Company | 15 October 1947 |
| Number of shares acquired | All issued shares (number of shares to be determined), 100.0% ownership of voting rights |
| Voting rights ownership percentage | Before 100 → after 100 |
| Funding arrangements | Investment by DBJ through its subscription for preferred shares in the joint venture (the breakdown of the total acquisition funding is not disclosed) |
| Impact on Business Performance | The impact on Meiji Holdings' consolidated results for the fiscal year ending March 2027 will be immaterial, and no revision will be made to the consolidated earnings forecasts for the current fiscal year. |
| Date of board resolution | 30 September 2026 |
| Contract Date | 30 September 2026 |
| Execution Date / Effective Date | The effective date of this preliminary transaction is scheduled for 31 March 2027, and the scheduled execution date of the share transfer is 1 April 2027. |
| Management structure after acquisition | The joint venture is scheduled to be established in December 2026, with Tsuji Kazumi (辻和美) scheduled to serve as representative director. The ownership ratios will be 49.1% for Daito, 36.0% for Meiji Seika Pharma and 14.9% for DBJ. The joint venture is expected to become an equity-method affiliate of Daito and Meiji Seika Pharma. The target company's corporate name and employee treatment are Not disclosed. |
Items this document does not state (17)
Net Sales of the Subject CompanyOperating Profit of the Subject CompanyNet Income of the Subject CompanyNet Assets of the Subject CompanyAcquisition priceExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodGoodwill amountAmount of extraordinary income (loss)Valuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to Execution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The parties will establish a platform to build a stable supply system for high-quality, affordable medicines in response to supply concerns in the generic drug industry and inefficiencies caused by the production of many products in small volumes. They aim to eliminate supply concerns at an early stage and establish a sustainable business foundation by consolidating manufacturing sites, integrating product lines, sharing quality-assurance expertise, improving research and development efficiency, and securing a stable supply of active pharmaceutical ingredients.
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