Worth reading
45Recurring
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
60
SharesWording
Conditional
How definitive the wording is.This transaction
Making the company a subsidiary through a share acquisitionCounterpartyEnokida Eiji (榎田英治), Enokida Hideaki (榎田英明), Enokida Yasuhiro (榎田康宏)
Disclosing companyMIDAC 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.
Date of board resolution3 April 2026
Contract Date3 April 2026 (scheduled)
Execution Date / Effective Date3 April 2026 (scheduled)
Target company
Final disposal of industrial waste (stable-type)
Location Makinohara, Shizuoka PrefectureShare capital ¥3 millionDate of incorporation 27 July 1995
Net SalesThe target company has not disclosed its financial results for the most recent 3 years at the request of the transferors.
Operating profitThe target company has not disclosed its financial results for the most recent 3 years at the request of the transferors.
Net income for the current fiscal yearThe target company has not disclosed its financial results for the most recent 3 years at the request of the transferors.
Net assetsThe target company has not disclosed its financial results for the most recent 3 years at the request of the transferors.
Consideration and expenses
Acquisition priceThe purchase price has not been disclosed because the sellers are individuals. However, the parties agreed on the price after taking into consideration a valuation based on an objective and reasonable valuation method conducted by an independent third-party organization. The total expected consideration for the acquisition does not meet the applicable disclosure thresholds.
Impact on Business Performance
The impact of this transaction on the Company's consolidated results will be immaterial.
Procedures and assumptions
Valuation methodologyValuation based on an objective and reasonable valuation method conducted by an independent third-party organization
| Item | Details |
|---|---|
| Transaction name | Making the company a subsidiary through a share acquisition |
| Counterparty name | Enokida Eiji (榎田英治), Enokida Hideaki (榎田英明), Enokida Yasuhiro (榎田康宏) |
| Name of the Subject Company | 有限会社エノケン工業 |
| Business Description of the Subject Company | Final disposal of industrial waste (stable-type) |
| Location of the Subject Company | Makinohara, Shizuoka Prefecture |
| Capital Stock of the Subject Company | ¥3 million |
| Date of Establishment of the Subject Company | 27 July 1995 |
| Net Sales of the Subject Company | The target company has not disclosed its financial results for the most recent 3 years at the request of the transferors. |
| Operating Profit of the Subject Company | The target company has not disclosed its financial results for the most recent 3 years at the request of the transferors. |
| Net Income of the Subject Company | The target company has not disclosed its financial results for the most recent 3 years at the request of the transferors. |
| Net Assets of the Subject Company | The target company has not disclosed its financial results for the most recent 3 years at the request of the transferors. |
| Acquisition price | The purchase price has not been disclosed because the sellers are individuals. However, the parties agreed on the price after taking into consideration a valuation based on an objective and reasonable valuation method conducted by an independent third-party organization. The total expected consideration for the acquisition does not meet the applicable disclosure thresholds. |
| Number of shares acquired | 60 shares (60 voting rights) |
| Voting rights ownership percentage | Before 0％ → after 100.0％ |
| Impact on Business Performance | The impact of this transaction on the Company's consolidated results will be immaterial. |
| Date of board resolution | 3 April 2026 |
| Contract Date | 3 April 2026 (scheduled) |
| Execution Date / Effective Date | 3 April 2026 (scheduled) |
| Valuation methodology | Valuation based on an objective and reasonable valuation method conducted by an independent third-party organization |
Items this document does not state (13)
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 ExecutionManagement structure after acquisition
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 will make 有限会社エノケン工業 a subsidiary as a "support-oriented M&A" transaction because it faces a succession issue. The transaction is intended to increase the Company's share of stable-type landfill operations in Shizuoka Prefecture, extend the operating life of final disposal sites, and increase processing capacity in the future.
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