Worth reading
85Important
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
235000
Reverse stock split of shares into 1 shareWording
Conditional
How definitive the wording is.Decision and Details
Board of Directors (resolution on 22 April 2026), subject to approval at an extraordinary general meeting of shareholdersMatters subject to prior disclosure concerning the share consolidation
Decision22 April 2026 (date of Board of Directors resolution)
Implementation15 June 2026 (effective date, scheduled)
Going forwardAn extraordinary general meeting of shareholders is scheduled to be held on 25 May 2026. The shares are scheduled to be delisted on 11 June 2026, 163,900 treasury shares are scheduled to be cancelled on 12 June 2026, and the share consolidation is scheduled to take effect on 15 June 2026. Around late June 2026, the company plans to apply to the court for permission to sell the shares corresponding to the fractional shares, sell those shares to Flowers株式会社 around late July 2026, and pay the sale proceeds to shareholders around late September 2026.
AmountTender offer price and basis for the amount payable for fractional shares: ¥2,285 per share
Quantity / scaleConsolidation of 235,000 shares into 1 share; authorized shares as of the effective date: 72 shares; 163,900 treasury shares scheduled to be cancelled on 12 June 2026
Reason
To make the Offeror and the shareholders who agreed not to tender their shares the only shareholders and take the company's shares private. The Offeror was unable to acquire all of the company's shares through the tender offer.
| Item | Details |
|---|---|
| Matter Covered | Matters subject to prior disclosure concerning the share consolidation |
| Decision-Making Body | Board of Directors (resolution on 22 April 2026), subject to approval at an extraordinary general meeting of shareholders |
| Decision Date | 22 April 2026 (date of Board of Directors resolution) |
| Implementation Date | 15 June 2026 (effective date, scheduled) |
| Amount | Tender offer price and basis for the amount payable for fractional shares: ¥2,285 per share |
| Quantity / scale | Consolidation of 235,000 shares into 1 share; authorized shares as of the effective date: 72 shares; 163,900 treasury shares scheduled to be cancelled on 12 June 2026 |
| Reason | To make the Offeror and the shareholders who agreed not to tender their shares the only shareholders and take the company's shares private. The Offeror was unable to acquire all of the company's shares through the tender offer. |
| Governing Rule | Article 182-2, paragraph 1 of the Companies Act; Article 33-9 of the Ordinance for Enforcement of the Companies Act; Article 180, paragraph 2, Article 235 and Article 234, paragraph 2 of the Companies Act |
| Related previous disclosures | 6 February 2026, “Notice Regarding the Company's Opinion in Favor of and Recommendation to Tender Shares in the Tender Offer for the Company's Shares by Flowers株式会社”; 26 March 2026, “Notice Regarding the Results of the Tender Offer for the Company's Shares by Flowers株式会社 and Changes in Parent Company, Controlling Shareholder, and Major Shareholders”; 27 January 2026, “Summary of Financial Results for the Nine Months Ended 31 March 2026 [Japanese GAAP] (Non-consolidated)” |
| Future plans | An extraordinary general meeting of shareholders is scheduled to be held on 25 May 2026. The shares are scheduled to be delisted on 11 June 2026, 163,900 treasury shares are scheduled to be cancelled on 12 June 2026, and the share consolidation is scheduled to take effect on 15 June 2026. Around late June 2026, the company plans to apply to the court for permission to sell the shares corresponding to the fractional shares, sell those shares to Flowers株式会社 around late July 2026, and pay the sale proceeds to shareholders around late September 2026. |
Items this document does not state (2)
Period CoveredImpact on Business Performance
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.To make the Offeror and the shareholders who agreed not to tender their shares the only shareholders and take the company's shares private. The consolidation will be carried out at the Offeror's request because the Offeror was unable to acquire all of the shares through the tender offer.
How to read this page
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