Worth reading
71In focus
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
20000000
Shares (approx.)Wording
Avoiding a definitive answer
How definitive the wording is.Decision and Details
Board of DirectorsSale of ordinary shares of LINTEC Corporation through a secondary offering
Decision20 August 2026
Period CoveredImpact on the non-consolidated and consolidated financial statements for the fiscal year ending March 2027. No sales or other dispositions may be made until the date that is the 180th day from the settlement date.
ImplementationThe offering price and other terms are scheduled to be determined on one day between 1 September 2026 and 3 September 2026. The settlement date is scheduled to be the fifth business day after the date on which the offering price and other terms are determined.
Going forwardThe offering price and other terms are scheduled to be determined on one day between 1 September 2026 and 3 September 2026. LINTEC is scheduled to repurchase its own shares between 24 August 2026 and 26 August 2026. If the repurchase is decided upon, 日本製紙 may sell shares in response to part of the repurchase, which could reduce the number of shares sold in this secondary offering. 日本製紙 will disclose the impact on its results as necessary once the gain on sale is finalized.
AmountGain on sale of shares of an affiliated company in the non-consolidated financial statements and gain on sale of investment securities in the consolidated financial statements. The sale price and amount of the gain on sale have not been determined. The upper limit on the total acquisition price for LINTEC's share repurchases is ¥30 billion.
Quantity / scaleApproximately 20 million LINTEC shares, excluding less-than-one-unit shares. The upper limit on the number of shares LINTEC will repurchase is 6,910,000 shares.
Reason
The sale was deemed to contribute to optimizing the balance sheet as set out in the Medium-Term Management Plan 2030, improving capital efficiency, and enhancing the medium- to long-term corporate value of both companies.
Impact on Business Performance
日本製紙 expects to recognize a gain on the sale of shares of an affiliated company and a gain on the sale of investment securities in the fiscal year ending March 2027. 日本製紙 will promptly disclose the information as necessary once the amount of the gain on sale is finalized.
| Item | Details |
|---|---|
| Matter Covered | Sale of ordinary shares of LINTEC Corporation through a secondary offering |
| Decision-Making Body | Board of Directors |
| Decision Date | 20 August 2026 |
| Implementation Date | The offering price and other terms are scheduled to be determined on one day between 1 September 2026 and 3 September 2026. The settlement date is scheduled to be the fifth business day after the date on which the offering price and other terms are determined. |
| Period Covered | Impact on the non-consolidated and consolidated financial statements for the fiscal year ending March 2027. No sales or other dispositions may be made until the date that is the 180th day from the settlement date. |
| Amount | Gain on sale of shares of an affiliated company in the non-consolidated financial statements and gain on sale of investment securities in the consolidated financial statements. The sale price and amount of the gain on sale have not been determined. The upper limit on the total acquisition price for LINTEC's share repurchases is ¥30 billion. |
| Quantity / scale | Approximately 20 million LINTEC shares, excluding less-than-one-unit shares. The upper limit on the number of shares LINTEC will repurchase is 6,910,000 shares. |
| Impact on Business Performance | 日本製紙 expects to recognize a gain on the sale of shares of an affiliated company and a gain on the sale of investment securities in the fiscal year ending March 2027. 日本製紙 will promptly disclose the information as necessary once the amount of the gain on sale is finalized. |
| Reason | The sale was deemed to contribute to optimizing the balance sheet as set out in the Medium-Term Management Plan 2030, improving capital efficiency, and enhancing the medium- to long-term corporate value of both companies. |
| Governing Rule | Provision in the articles of incorporation pursuant to Article 459, Paragraph 1 of the Companies Act, including the provisions concerning LINTEC's acquisition of treasury shares |
| Related previous disclosures | Medium-Term Management Plan 2030, announced on 28 May 2026 |
| Future plans | The offering price and other terms are scheduled to be determined on one day between 1 September 2026 and 3 September 2026. LINTEC is scheduled to repurchase its own shares between 24 August 2026 and 26 August 2026. If the repurchase is decided upon, 日本製紙 may sell shares in response to part of the repurchase, which could reduce the number of shares sold in this secondary offering. 日本製紙 will disclose the impact on its results as necessary once the gain on sale is finalized. |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The sale was deemed to contribute to optimizing the balance sheet and improving capital efficiency as set out in the Medium-Term Management Plan 2030. It was also deemed to contribute to enhancing the medium- to long-term corporate value of both companies.
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