Itoham Yonekyu Holdings' New Zealand subsidiary ANZCO Foods completed its purchase of Greenlea Group Limited on September 30, 2026, and the group's interim balance sheet now carries the cost. The deal was not signed in November: the board approved it and the share purchase agreement was signed on June 18.
Price and goodwill
ANZCO paid cash for 100% of Greenlea, a New Zealand meat processor and seller, at a cost of NZ$801mn (¥71.1bn). That figure is provisional because price adjustments under the purchase agreement are not finished. Goodwill from the deal is ¥57.3bn, also provisional because the purchase price has not been allocated. The company plans to amortise it evenly over the period in which the investment pays off, and the amortisation period is still being worked out.
Balance sheet
Goodwill on the balance sheet rose to ¥70.1bn at September 30 from ¥13.6bn at March 31. Short-term borrowings rose to ¥127.3bn from ¥58.4bn, and the company added ¥25bn of commercial paper. Total assets reached ¥609.5bn, the equity ratio fell to 47.9% from 56.2%, and the cash-flow statement shows ¥73.9bn paid for the subsidiary shares.
Earnings timing
The interim results contain only Greenlea's balance sheet, not its profits. The group's presentation says the income statement picks up Greenlea from October 2026, so the second half carries the first earnings.
On the half-year, sales were ¥539.1bn, down 0.6%, and ordinary profit was ¥11.3bn, down 17.0%. Itoham Yonekyu now guides to sales of ¥1.12tn for the year to March 2027, up from ¥1.04tn, with the second-half Greenlea forecast included. Ordinary profit guidance slipped to ¥27.5bn from ¥28.0bn.