Kakaku.com's board voted on September 28 to dissolve the capital alliance it signed with KDDI in August 2018, while keeping the accompanying business alliance in force. A termination agreement, also dated September 28, cancels two governance rights KDDI has held since the deal: the ability to nominate one director candidate for Kakaku.com's board, and the right to advance notice and explanation before charter amendments or corporate reorganizations. The KDDI-appointed outside director had already stepped down at the close of Kakaku.com's annual shareholders meeting on June 18, 2026.
Kakaku.com attributes the unwind to changes in its capital structure, including a tender offer currently under way, and to discussions over its future management direction. The company says the dissolution itself will have only a minor direct effect on the year ending March 2027, but that the effect of the tender offer's outcome remains undetermined.
| Feature | Before September 28 | After September 28 |
|---|---|---|
| Board nomination right | Held by KDDI | Ended |
| Prior notice/consultation on charter or reorganization | Required | Ended |
| KDDI voting stake | 17.70% (35,016,000 shares) | 17.70% (35,016,000 shares), unchanged |
| Shareholder classification | Major shareholder and other affiliated company | Major shareholder only |
| Business alliance (data sharing, media know-how) | Active | Active, unchanged |
What survives is the substance of the partnership. The 2018 business alliance basic agreement is unchanged: the two companies will keep co-developing services using each other's browsing and usage data, sharing media production know-how, and pursuing internet advertising and digital marketing collaboration.
KDDI's economic position is untouched too. It keeps its 35,016,000 shares, 17.70% of voting rights, and its rank as Kakaku.com's second-largest shareholder. What changes is classification: KDDI moves from "major shareholder and other affiliated company" to simply "major shareholder" as of the same date, and Kakaku.com says the related-party relationship is expected to end as a result. KDDI's own largest shareholders include a trust bank holding 15.77% and Kyocera at 14.75%, according to the counterparty profile in the same disclosure.