Meiji Holdings said its board resolved on October 6, 2026 that its operating subsidiary Meiji will sell all of its shares in a Hokkaido frozen-vegetable and retort-food maker to Yoshimura Food Holdings, with the transfer planned for November 1.
A one-share fix
Before the sale, the company plans a third-party allotment of one common share to Meiji, with the stated aim of eliminating negative net assets. The 2,311,748 shares changing hands include that new share. Meiji also plans to take the 7.1% stake held by a wholly owned Meiji subsidiary first; Meiji itself holds 92.9%.
The issue amount is not given. Neither is the sale price: Meiji Holdings cites a confidentiality agreement with the buyer. Yoshimura Food Holdings cites the same agreement, and says it weighed the results of external financial and legal due diligence in arriving at a price it calls reasonable.
What is being sold
The Hokkaido company makes frozen vegetables, led by corn, and retort-pouch foods. In the year to March 2026 it had negative net assets of ¥3.24bn, against negative ¥3.67bn two years earlier. Sales were ¥3.04bn, operating profit ¥209mn and net profit ¥132mn. Negative net assets do not on their own mean insolvency proceedings, and the disclosures describe none.
Why each side says it is doing it
Meiji Holdings says Yoshimura, which supports small and mid-sized food companies, is the right steward for the company's sustained growth. It expects a minor effect on consolidated results for the year to March 2027. Yoshimura, which describes a group of 39 companies, cites the target's high share of the market for domestically produced frozen corn and its Tokachi contract-farm supply. It is still assessing the earnings effect and expects no goodwill.