Worth reading
69In focus
Scored from 4 of 5 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
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Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.This transaction
Acquisition of the businessCounterparty (target company)株式会社 EV モーターズ・ジャパン
Disclosing companyIKUYO CO.,LTD.
TimelineThe spacing between the points is proportional to the actual number of days.White points represent dates designated as scheduled dates in the document.
Target company
EV bus business
Location 22-1 Koyocho, Wakamatsu-ku, Kitakyushu, Fukuoka PrefectureShare capital ¥4,118 millionDate of incorporation 26 January 1984
Net Sales¥2,714 million (fiscal year ended December 2025)
Operating profitOperating loss of ¥2,690 million (fiscal year ended December 2025)
Consideration and expenses
Acquisition priceThe acquisition price will be disclosed again after obtaining court approval in the civil rehabilitation proceedings.
Impact on Business Performance
The matter is currently under review. We will promptly announce the impact on earnings and other relevant matters as soon as formal court approval is obtained.
Procedures and assumptions
Conditions Precedent to ExecutionCourt approval in the target company's civil rehabilitation proceedings
Management structure after acquisitionUnder our management structure, we will seek to achieve an early improvement in earnings. We will implement and overhaul company-wide manufacturing-grade quality control processes, supplier controls and corporate governance systems.
| Item | Details |
|---|---|
| Transaction name | Acquisition of the business |
| Counterparty name | 株式会社 EV モーターズ・ジャパン |
| Name of the Subject Company | 株式会社 EV モーターズ・ジャパン |
| Business Description of the Subject Company | EV bus business |
| Location of the Subject Company | 22-1 Koyocho, Wakamatsu-ku, Kitakyushu, Fukuoka Prefecture |
| Capital Stock of the Subject Company | ¥4,118 million |
| Date of Establishment of the Subject Company | 26 January 1984 |
| Net Sales of the Subject Company | ¥2,714 million (fiscal year ended December 2025) |
| Operating Profit of the Subject Company | Operating loss of ¥2,690 million (fiscal year ended December 2025) |
| Acquisition price | The acquisition price will be disclosed again after obtaining court approval in the civil rehabilitation proceedings. |
| Impact on Business Performance | The matter is currently under review. We will promptly announce the impact on earnings and other relevant matters as soon as formal court approval is obtained. |
| Date of board resolution | 4 August 2026 |
| Contract Date | 10 August 2026 (予定) |
| Execution Date / Effective Date | Around November 2026 (予定) |
| Conditions Precedent to Execution | Court approval in the target company's civil rehabilitation proceedings |
| Management structure after acquisition | Under our management structure, we will seek to achieve an early improvement in earnings. We will implement and overhaul company-wide manufacturing-grade quality control processes, supplier controls and corporate governance systems. |
Items this document does not state (16)
Net Income of the Subject CompanyNet Assets of the Subject CompanyExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodNumber of shares acquiredVoting rights ownership percentageFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Valuation methodologyIndependent valuation institutionSpecial Committee
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 incorporate vehicle control technology and know-how in integrating autonomous driving systems and accelerate the development of an autonomous driving platform. In addition, to expand the energy management business by leveraging large-capacity storage batteries and power control technology, and to achieve an early improvement in earnings by overhauling the quality assurance and management systems and corporate governance structure.
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