Worth reading
52Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
35
Billion yen (approximately €21 million)Wording
Avoiding a definitive answer
How definitive the wording is.This transaction
Dissolution and liquidation of Reflector Entertainment Ltd.Disclosing companyBandai Namco Holdings Inc.
Date of board resolution10 November 2026
Execution Date / Effective DateLiquidation is expected to be completed once the necessary procedures under local law have been completed. The specific date has not been determined at this time.
Target company
Planning and development of entertainment content, including console games
Location CanadaShare capital C$46,030 thousandDate of incorporation 29 December 2015
Net SalesC$14,663.4 thousand (FY2026)
Operating profitC$2,573.3 thousand (FY2026)
Net income for the current fiscal year-C$1,983.0 thousand (FY2026)
Net assets-C$89,541.5 thousand (FY2026)
Consideration and expenses
Amount of extraordinary income (loss)Extraordinary loss of approximately €21 million (approximately ¥3.5 billion), expected to be recorded in the consolidated accounts from the third quarter of FY2027 onward
Impact on Business Performance
In connection with this matter, an extraordinary loss of approximately €21 million (approximately ¥3.5 billion) is expected to be recorded in the consolidated accounts from the third quarter of FY2027 onward. However, the timing and amount of recognition are currently under review and may change in the future.
Procedures and assumptions
Conditions Precedent to ExecutionCompletion of the procedures required under local law
Management structure after acquisitionReflector's business will cease, followed by its dissolution and liquidation. Change of corporate name, representative and treatment of employees: Not disclosed
| Item | Details |
|---|---|
| Transaction name | Dissolution and liquidation of Reflector Entertainment Ltd. |
| Name of the Subject Company | Reflector Entertainment Ltd. |
| Business Description of the Subject Company | Planning and development of entertainment content, including console games |
| Location of the Subject Company | Canada |
| Capital Stock of the Subject Company | C$46,030 thousand |
| Date of Establishment of the Subject Company | 29 December 2015 |
| Net Sales of the Subject Company | C$14,663.4 thousand (FY2026) |
| Operating Profit of the Subject Company | C$2,573.3 thousand (FY2026) |
| Net Income of the Subject Company | -C$1,983.0 thousand (FY2026) |
| Net Assets of the Subject Company | -C$89,541.5 thousand (FY2026) |
| Voting rights ownership percentage | Before 100.0％ (after not disclosed) |
| Amount of extraordinary income (loss) | Extraordinary loss of approximately €21 million (approximately ¥3.5 billion), expected to be recorded in the consolidated accounts from the third quarter of FY2027 onward |
| Impact on Business Performance | In connection with this matter, an extraordinary loss of approximately €21 million (approximately ¥3.5 billion) is expected to be recorded in the consolidated accounts from the third quarter of FY2027 onward. However, the timing and amount of recognition are currently under review and may change in the future. |
| Date of board resolution | 10 November 2026 |
| Execution Date / Effective Date | Liquidation is expected to be completed once the necessary procedures under local law have been completed. The specific date has not been determined at this time. |
| Conditions Precedent to Execution | Completion of the procedures required under local law |
| Management structure after acquisition | Reflector's business will cease, followed by its dissolution and liquidation. Change of corporate name, representative and treatment of employees: Not disclosed |
Items this document does not state (15)
Counterparty nameAcquisition priceExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodNumber of shares acquiredFunding arrangementsGoodwill amountContract DateValuation 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.As part of a review of the business portfolio and the development structure within the Group aimed at achieving medium- to long-term growth and enhancing corporate value, the decision was made to cease the business after a comprehensive review of Reflector's future business plan, required additional investment, profitability and the possibility of continuing the business.
How to read this page
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