MEDIPAL HOLDINGS CORPORATION's decision to demand the sale of shares in PALTAC CORPORATION, approval of the demand for sale of shares, and delisting of PALTAC CORPORATION shares
PALTAC CORPORATION and MEDIPAL HOLDINGS CORPORATION
Common shares of PALTAC CORPORATION and the Tokyo Stock Exchange Prime Market
As a result of the successful tender offer, MEDIPAL became a special controlling shareholder holding 90% or more of the voting rights of PALTAC's shareholders, enabling the companies to proceed with a series of transactions to make PALTAC a wholly owned subsidiary.
Change in voting rights ownership ratio
The voting rights ownership percentage is the proportion of the voting rights exercisable at a shareholders' meeting held by the shareholder.
31,853,485 shares, representing an ownership percentage of 52.40% (as of 11 May 2026)
56,319,589 shares, representing an ownership percentage of 92.64% of the voting rights (as of 14 July 2026)
Related procedures
Demand for sale of shares under Article 179, Paragraph 1 of the Companies Act and delisting procedures
Tokyo Stock Exchange, Inc.
Company response
Following the delisting, PALTAC shares will no longer be tradable on the Tokyo Stock Exchange Prime Market.
Special Committee (chair: Yoshitake Ichiro (吉武 一郎), established on 22 December 2025; members: Yoshitake Ichiro (吉武 一郎), Oishi Kaori (大石 歌織) and Hikita Kyoko (疋田 鏡子))
The final trading date is scheduled for 7 August 2026, delisting for 10 August, and acquisition of the shares for 13 August. PALTAC and MEDIPAL will discuss and consider the management structure, policies and plans following approval.
| Item | Details |
|---|---|
| Event name | MEDIPAL HOLDINGS CORPORATION's decision to demand the sale of shares in PALTAC CORPORATION, approval of the demand for sale of shares, and delisting of PALTAC CORPORATION shares |
| Date of occurrence | 15 July 2026 (the date on which MEDIPAL decided to demand the sale of shares and the date of PALTAC's Board of Directors resolution approving the demand) |
| Date recognized / date notice received | 15 July 2026 (the date on which PALTAC received notice from MEDIPAL regarding the demand for sale of shares) |
| Subject Entity | PALTAC CORPORATION and MEDIPAL HOLDINGS CORPORATION |
| Target Locations / Products | Common shares of PALTAC CORPORATION and the Tokyo Stock Exchange Prime Market |
| Cause | As a result of the successful tender offer, MEDIPAL became a special controlling shareholder holding 90% or more of the voting rights of PALTAC's shareholders, enabling the companies to proceed with a series of transactions to make PALTAC a wholly owned subsidiary. |
| Type of litigation or proceeding | Demand for sale of shares under Article 179, Paragraph 1 of the Companies Act and delisting procedures |
| Court or authority | Tokyo Stock Exchange, Inc. |
| Date of filing / date of action | Date of demand for sale: 15 July 2026; scheduled delisting date: 10 August 2026 |
| Suspended operations | Following the delisting, PALTAC shares will no longer be tradable on the Tokyo Stock Exchange Prime Market. |
| Investigation structure | Special Committee (chair: Yoshitake Ichiro (吉武 一郎), established on 22 December 2025; members: Yoshitake Ichiro (吉武 一郎), Oishi Kaori (大石 歌織) and Hikita Kyoko (疋田 鏡子)) |
| Voting rights ownership percentage before the change | 31,853,485 shares, representing an ownership percentage of 52.40% (as of 11 May 2026) |
| Voting rights ownership percentage after the change | 56,319,589 shares, representing an ownership percentage of 92.64% of the voting rights (as of 14 July 2026) |
| Outlook | The final trading date is scheduled for 7 August 2026, delisting for 10 August, and acquisition of the shares for 13 August. PALTAC and MEDIPAL will discuss and consider the management structure, policies and plans following approval. |
Items this document does not state (11)
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 purpose is to enhance corporate value over the medium to long term by making integrated use of the management resources of the MEDIPAL Group and PALTAC, including through improved demand insight, logistics, data integration and human resources capabilities. The companies believe that this will eliminate constraints on implementing measures arising from the parent-subsidiary listing structure and that the disadvantages of delisting will be limited.