Amvis Holdings' board resolved on September 28 to carve out 47 home hospice facilities centered on western Japan and sell the resulting companies to NSSK-Altair1, a vehicle funded by investment partnerships tied to NSSK. The combined transfer price for the two carve-out companies is planned at ¥17.4bn. A share transfer agreement was signed the same day.
The mechanics run through two new, nearly empty subsidiaries, both wholly owned by Amvis Holdings itself and incorporated on September 1 with capital of just ¥1 each. One will take over the business split off from Amvis Holdings, the other from operating subsidiary Amvis, which directly runs the home hospice facilities; the western Japan business covers paid nursing homes, visiting nursing, visiting care, in-home care support and disability welfare services, and will be transferred into these entities through two absorption-type splits before NSSK-Altair1 buys 100% of both.
| Item | Detail |
|---|---|
| Facilities divested | 47 home hospice facilities centered on western Japan |
| Buyer | NSSK-Altair1, an investment vehicle tied to NSSK |
| Combined transfer price | ¥17.4bn planned for both carve-out companies |
| Divested business revenue (year to September 2025) | ¥11.52bn |
| Shareholder vote, Amvis KK-level split | October 29, 2026 (planned) |
| Shareholder vote, holding-company split and share sale | November 13, 2026 (planned) |
| Planned effective dates | November 1, 2026 (Amvis KK split); November 16, 2026 (holding-company split and share transfer) |
| Deconsolidation start | First quarter of the fiscal year ending September 2027 |
The scale of what is changing hands is disclosed only in pieces. The carved-out business generated revenue of ¥11.52bn in the fiscal year ended September 2025. Based on a June 30, 2026 balance sheet still subject to adjustment before the splits take effect, the holding-company-level split carries ¥18.53bn of assets against ¥9.06bn of liabilities, and the operating-company-level split carries ¥3.00bn of assets against ¥1.13bn of liabilities.
Amvis frames the move as a regional retreat rather than a retreat from hospice care itself. The company says it will concentrate resources on its facilities in the Tokyo metropolitan area and eastern Japan, where it serves terminal cancer patients, ventilator-dependent patients and people with severe neurodegenerative disease, and will use the sale proceeds to strengthen its balance sheet and fund growth investment, including its comprehensive medical support business. NSSK-Altair1 was itself only incorporated on August 12, 2026, wholly owned by an affiliate called NSSK-Altair2.
None of this is finished business. Amvis has set a shareholder vote for October 29 on the operating-company split and a second vote for November 13 on the holding-company split and the share transfer itself, with planned effective dates of November 1 and November 16 respectively. The share transfer is conditional on the splits taking effect. Once complete, the carved-out companies leave Amvis's consolidation scope from the first quarter of the fiscal year ending September 2027, and any gain or loss on the transfer, along with the broader effect on that year's group results, is still being worked out; Amvis says it will disclose any resulting forecast revision as it becomes available.