Chuo Warehouse will pay about ¥6.115bn, costs included, for 700,000 of the 1,000,000 shares in Takara Logistics System, according to its notice of a partial share acquisition. The shares themselves cost ¥5.985bn. Takara Holdings gives the same figure as its sale price and keeps the remaining 30%. The final price will follow the price-adjustment clause in the share transfer agreement.
What Chuo buys
The target offers transport, warehousing, distribution processing, mail-order and promotional-goods logistics, plus non-life insurance and leasing. In the year to March 2026 it reported consolidated sales of ¥12.649bn, operating profit of ¥676mn and net profit attributable to owners of ¥869mn. Chuo says the company's nationwide delivery network and its handling of small-lot, many-item alcohol and food fit the food and beverage logistics field that its eighth medium-term plan, NEXT CS-100, treats as a strategic area.
Why Takara sells
Takara Holdings calls the subsidiary's sales and profit steady. It expects demographics and alcohol consumption trends to cut the volumes the subsidiary handles for a Takara group alcohol company, which makes growth in external customers a key issue. It also cites driver and handling-labour shortages, logistics law changes and rising labour costs, which call for more investment. The company says a new shareholder with logistics as its core business suits that need.
Timing and accounting
Closing is planned for 1 April 2027 and assumes the Japan Fair Trade Commission completes its review of the antimonopoly-law filing. Takara Holdings expects a gain on sale of affiliate shares of about ¥3.625bn in its consolidated results for the year to March 2028. Its extraordinary report puts the gain at about ¥4.885bn in non-consolidated results for the first half of that year. Both figures could move with the final price.
Chuo says the deal does not change its forecast for the year to March 2027 and that the effect on later years is under review. Takara Holdings also filed a corrected shelf registration for corporate bonds of up to ¥20bn, adding the extraordinary report as a reference document. The filing announces no new issue.