Mitsuboshi will make Tenshin Shoji, which collects and sells copper scrap, a subsidiary. It will acquire a 51% stake through a combination of a share transfer and cash consideration, aiming to strengthen its copper-focused resource-recycling business.
Mitsuboshi announced plans to make Tenshin Shoji, which collects, imports, exports and sells copper scrap, a subsidiary in order to expand its nonferrous-metal recycling business. Tenshin Shoji has copper scrap sourcing capabilities and a trading network. By combining its expertise with Mitsuboshi's financing capabilities and quality and production management expertise, Mitsuboshi aims to strengthen the profitability of its existing businesses.
The acquisition will be carried out through a combination of a share transfer and cash consideration, with Mitsuboshi acquiring 51% of Tenshin Shoji's issued shares. The share transfer is expected to comprise 173,300 common shares, while the cash consideration is expected to be ¥150 million. Based on a valuation using Tenshin Shoji's share price of ¥866, the closing price on 9 September 2026, the share transfer will be worth approximately ¥150 million, bringing the total acquisition price to approximately ¥300 million. The scheduled acquisition date is 26 October 2026.
Looking ahead, Mitsuboshi plans to enhance its preprocessing operations and expand into higher-value-added processes. It aims to develop a copper-focused resource-recycling business as a new earnings base.