Worth reading
52Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
3
Less than a percentage of the Company's consolidated net assetsWording
Conditional
How definitive the wording is.This transaction
Acquisition of shares (making the company a consolidated subsidiary)CounterpartyTarutani Sanae (樽谷 早苗)
Disclosing companyFirst Brothers 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
Real estate leasing
Location Katori, Chiba PrefectureShare capital ¥50 millionDate of incorporation 17 October 1978 (as stated in the certified copy of the registry)
Net Sales¥293.056 million (fiscal year ended September 2025)
Operating profit¥45.167 million (fiscal year ended September 2025)
Net income for the current fiscal year¥272.293 million (fiscal year ended September 2025)
Net assets¥725.820 million (fiscal year ended September 2025)
Consideration and expenses
Acquisition priceNot disclosed
Impact on Business Performance
The impact on consolidated results for the fiscal year ending November 2026 is currently under review, but is expected to be immaterial.
Procedures and assumptions
Valuation methodologyDetermined following discussions between the parties, taking into reasonable consideration the results of an external expert's valuation of the share value and legal and financial due diligence, among other factors
Management structure after acquisitionThe Group will assume management of the company and use its expertise in and knowledge of commercial real estate operations, together with its capital strength, to advance capital investment and optimize operations. The corporate name, representative and treatment of employees: not disclosed
| Item | Details |
|---|---|
| Transaction name | Acquisition of shares (making the company a consolidated subsidiary) |
| Counterparty name | Tarutani Sanae (樽谷 早苗) |
| Name of the Subject Company | 株式会社サワラシティ |
| Business Description of the Subject Company | Real estate leasing |
| Location of the Subject Company | Katori, Chiba Prefecture |
| Capital Stock of the Subject Company | ¥50 million |
| Date of Establishment of the Subject Company | 17 October 1978 (as stated in the certified copy of the registry) |
| Net Sales of the Subject Company | ¥293.056 million (fiscal year ended September 2025) |
| Operating Profit of the Subject Company | ¥45.167 million (fiscal year ended September 2025) |
| Net Income of the Subject Company | ¥272.293 million (fiscal year ended September 2025) |
| Net Assets of the Subject Company | ¥725.820 million (fiscal year ended September 2025) |
| Acquisition price | Not disclosed |
| Number of shares acquired | 54,200 shares (number of voting rights: 54,200) |
| Voting rights ownership percentage | Before 0.00% → after 100.00% |
| Impact on Business Performance | The impact on consolidated results for the fiscal year ending November 2026 is currently under review, but is expected to be immaterial. |
| Date of board resolution | 30 September 2026 |
| Contract Date | 30 September 2026 |
| Execution Date / Effective Date | 30 October 2026 (scheduled) |
| Valuation methodology | Determined following discussions between the parties, taking into reasonable consideration the results of an external expert's valuation of the share value and legal and financial due diligence, among other factors |
| Management structure after acquisition | The Group will assume management of the company and use its expertise in and knowledge of commercial real estate operations, together with its capital strength, to advance capital investment and optimize operations. The corporate name, representative and treatment of employees: not disclosed |
Items this document does not state (12)
Expenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Independent 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 Company intends to acquire a regional commercial facility and use the Group's expertise in and knowledge of commercial real estate operations, together with its capital strength, to advance capital investment and optimize operations. While maintaining the facility's role as part of the local community's infrastructure, the Company aims to realize its latent value and expand revenue opportunities.
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