Keisei Electric Railway, the Chiba-area rail operator, said on September 24, 2026 that it has signed an agreement to buy all 58,899 shares of Chiba Nisseki Co., Ltd., and will make the petroleum retailer a wholly owned subsidiary once the transfer completes, scheduled for October 1, 2026. The purchase price is undisclosed under a confidentiality agreement, and the total consideration falls below the level Keisei must disclose; the company says the figure was set using third-party due diligence.
The rationale is operational, not financial. Keisei expects the acquisition to give its group a more stable, secured supply of fuel, and says it supports the "resilience to external environment change" theme in its medium-term D2 Plan. Chiba Nisseki also runs an auto-maintenance business, which Keisei says overlaps with similar operations already inside its group.
Chiba Nisseki traces its roots to a 1927 founding in Funabashi, Chiba, and was formally established in 1956 with capital of ¥30mn. It sells petroleum products, runs gas stations, and services vehicles. For the year to June 2026, it reported revenue of roughly ¥17.8bn, but operating profit of just ¥233mn, ordinary profit of ¥331mn, and net income of ¥234mn on net assets of ¥2,977mn. Revenue has slipped each of the past three fiscal years, from ¥19.8bn to ¥19.0bn to ¥17.8bn.
There is a small twist: Chiba Nisseki already holds 599,868 Keisei shares, equal to 0.115% of Keisei's own stock, so the deal effectively folds a sliver of Keisei's shareholder register back into the group. The notice's list of major shareholders shows three individual stakes of 32.72%, 32.72%, and 30.14%, plus other shareholders not itemized in the disclosure. Keisei says the effect on its consolidated results is still being reviewed and it will disclose any forecast change promptly.