Kanematsu Electronics, the manufacturing-IT subsidiary of trading house Kanematsu Corporation, has signed a share transfer agreement to take full control of IDAJ, a Yokohama-based specialist in MBD/CAE, model-based development and simulation-analysis software for manufacturers. The stated acquisition cost is about ¥39.0bn for the shares plus roughly ¥0.36bn in advisory fees, for a total of approximately ¥39.4bn, according to the extraordinary report Kanematsu filed with the Kanto Local Finance Bureau. The deal is scheduled to close on October 1, 2026, subject to regulatory approvals and other conditions written into the contract, and the final price is still subject to adjustment at closing.
The structure is layered. Kanematsu Electronics is buying all 52,177 shares, representing 100% of the voting rights, in a special-purpose company called BCJ-61, up from zero shares before the deal. BCJ-61 is owned 50-50 by US private equity firm BCPE Advance Cayman, L.P. and a Japanese investment holding company; BCJ-61 in turn owns a holding entity called BCJ-62, which owns 100% of IDAJ. IDAJ itself wholly owns a smaller unit called IDxL, which wholly owns a still-smaller subsidiary abbreviated RC in the filing. Kanematsu's board delegated final sign-off to its president at a July 10, 2026 meeting; the decision and contract signing both landed on September 18, 2026.
Kanematsu frames the purchase as a move up the value chain. Its manufacturing-IT business currently sells IT infrastructure, business systems, PLM/PDM, MPM and MES tools to manufacturers, but management says it wants to extend into the design and analysis work that happens further upstream so it can support customers "from design through to manufacturing." IDAJ brings simulation expertise, engineering staff and a software portfolio the acquirer plans to cross-sell alongside its own client base, targeting semiconductor, defense, heavy-industry and electrical/electronics customers in addition to its existing automotive base. Kanematsu ties the deal to its medium-term plan, "integration 1.1," which calls for evolving into a broader "solution provider".
The business Kanematsu is buying has been growing. In the year to September 2025, IDAJ's standalone revenue reached ¥14.41bn and operating profit ¥2.78bn, both up from three years earlier.
| Metric | Year to Sept 2023 | Year to Sept 2024 | Year to Sept 2025 |
|---|---|---|---|
| Revenue | ¥11.69bn | ¥13.16bn | ¥14.41bn |
| Operating profit | ¥2.42bn | ¥2.43bn | ¥2.78bn |
| Net assets | ¥4.76bn | ¥6.96bn | ¥8.99bn |
That growth sits alongside weaker units inside the same group. IDxL posted an operating loss of ¥72mn and negative net assets of ¥298mn for the nine months to September 2025, a period shortened by a fiscal-year change; its net assets have been negative since the year to December 2024. RC is smaller still, with negative net assets of ¥9mn despite a small ¥2mn net profit in the same nine-month period. Kanematsu is acquiring the whole group, profitable core and lossmaking units together, not IDAJ in isolation.
Kanematsu said the acquisition's effect on its current-year consolidated results is expected to be minor. Whether that holds once IDAJ, IDxL and RC are consolidated will depend on the terms fixed at closing and on regulatory sign-off still to come before the October 1 completion date.