Notice regarding the dissolution of the consolidated subsidiary 名鉄百貨店, an absorption-type company split with that company, the absorption-type merger of the consolidated subsidiary めいてつカスタマーサービス, and the waiver of receivables
Nagoya Railroad Co., Ltd., 名鉄百貨店, and めいてつカスタマーサービス
名鉄百貨店's gift certificate business, MCS's membership club and credit card payment services businesses, and 名鉄百貨店's main store
Following the closure of 名鉄百貨店's main store on 28 February 2026, the companies have been addressing customers and business partners, settling various services, and carrying out procedures associated with the closure. Nagoya Railroad Co., Ltd. will take over and continue the gift certificate business and related businesses.
A loan of ¥1,540 million to MCS (estimated) is scheduled to be recognized as an extraordinary loss in Nagoya Railroad Co., Ltd.'s non-consolidated financial statements for the fiscal year ending March 2027. A loan of ¥11,520 million to 名鉄百貨店 (estimated) was already provided for as a provision for losses on guarantees in prior fiscal years, and its impact on non-consolidated results will be immaterial. The amounts will be eliminated in the consolidated financial statements, and there will be no impact on consolidated results.
Fiscal year ending March 2027 (non-consolidated financial statements and results)
Corporate taxes and other taxes are expected to decrease in the non-consolidated and consolidated financial statements for the fiscal year ending March 2027, but this impact was already incorporated into the full-year consolidated earnings forecast announced on 15 May 2026.
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.
名鉄百貨店 held 100% of the voting rights in MCS (before the transfer on 31 August 2026)
Nagoya Railroad Co., Ltd. is scheduled to hold 100% of the voting rights in MCS (31 August 2026)
Related procedures
Dissolution and liquidation of 名鉄百貨店, simplified absorption-type company split, simplified absorption-type merger, and waiver of receivables
Company response
Operations at 名鉄百貨店's main store (closed on 28 February 2026)
Nagoya Railroad Co., Ltd. will acquire the shares of MCS from 名鉄百貨店 on 31 August 2026, the absorption-type company split and absorption-type merger will take effect on 1 September 2026, and 名鉄百貨店 will be dissolved. 名鉄百貨店 is scheduled to complete its liquidation once the necessary procedures are completed, but the specific timing has not been determined. If any matter requiring disclosure arises, it will be disclosed promptly.
The company will promptly disclose any matters requiring disclosure that arise in the future.
| Item | Details |
|---|---|
| Event name | Notice regarding the dissolution of the consolidated subsidiary 名鉄百貨店, an absorption-type company split with that company, the absorption-type merger of the consolidated subsidiary めいてつカスタマーサービス, and the waiver of receivables |
| Date of occurrence | 24 July 2026 (date of the Board of Directors' resolution) |
| Subject Entity | Nagoya Railroad Co., Ltd., 名鉄百貨店, and めいてつカスタマーサービス |
| Target Locations / Products | 名鉄百貨店's gift certificate business, MCS's membership club and credit card payment services businesses, and 名鉄百貨店's main store |
| Cause | Following the closure of 名鉄百貨店's main store on 28 February 2026, the companies have been addressing customers and business partners, settling various services, and carrying out procedures associated with the closure. Nagoya Railroad Co., Ltd. will take over and continue the gift certificate business and related businesses. |
| Amount of Impact on Business Performance | A loan of ¥1,540 million to MCS (estimated) is scheduled to be recognized as an extraordinary loss in Nagoya Railroad Co., Ltd.'s non-consolidated financial statements for the fiscal year ending March 2027. A loan of ¥11,520 million to 名鉄百貨店 (estimated) was already provided for as a provision for losses on guarantees in prior fiscal years, and its impact on non-consolidated results will be immaterial. The amounts will be eliminated in the consolidated financial statements, and there will be no impact on consolidated results. |
| Accounting period in which recognized | Fiscal year ending March 2027 (non-consolidated financial statements and results) |
| Impact on Earnings Forecast | Corporate taxes and other taxes are expected to decrease in the non-consolidated and consolidated financial statements for the fiscal year ending March 2027, but this impact was already incorporated into the full-year consolidated earnings forecast announced on 15 May 2026. |
| Type of litigation or proceeding | Dissolution and liquidation of 名鉄百貨店, simplified absorption-type company split, simplified absorption-type merger, and waiver of receivables |
| Suspended operations | Operations at 名鉄百貨店's main store (closed on 28 February 2026) |
| Voting rights ownership percentage before the change | 名鉄百貨店 held 100% of the voting rights in MCS (before the transfer on 31 August 2026) |
| Voting rights ownership percentage after the change | Nagoya Railroad Co., Ltd. is scheduled to hold 100% of the voting rights in MCS (31 August 2026) |
| Outlook | Nagoya Railroad Co., Ltd. will acquire the shares of MCS from 名鉄百貨店 on 31 August 2026, the absorption-type company split and absorption-type merger will take effect on 1 September 2026, and 名鉄百貨店 will be dissolved. 名鉄百貨店 is scheduled to complete its liquidation once the necessary procedures are completed, but the specific timing has not been determined. If any matter requiring disclosure arises, it will be disclosed promptly. |
| Planned follow-up disclosure | The company will promptly disclose any matters requiring disclosure that arise in the future. |
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.Following the closure of 名鉄百貨店's main store, the companies have been addressing customers and business partners, settling various services, and carrying out procedures associated with the closure. Nagoya Railroad Co., Ltd. will take over and continue the gift certificate business and the membership club and credit card payment services businesses.