Oricon Inc. shareholders voted overwhelmingly on September 7 to consolidate the company's stock at a ratio of 2,333,576 shares to one, a step that will end the media-and-chart-data company's run on the Tokyo Stock Exchange. Proposal 1, the share consolidation itself, passed with 120,308 votes in favor against 133 opposed, a 99.38% margin. Proposal 2, covering related changes to the articles of incorporation, cleared with 120,321 votes for and 127 against, or 99.39%.
The consolidation takes effect September 30, 2026. Once it does, Oricon's issued shares fall to just five, with the company's articles capping authorized shares at 20. The filing names three entities that will hold one or more shares afterward: the tender offeror behind the underlying transaction, a second retained shareholder, and Hikari Tsushin Investments Okinawa. The same charter amendments abolish Oricon's 100-share trading unit and delete provisions governing the annual meeting record date and electronic delivery of shareholder materials, both made conditional on the consolidation actually taking effect.
The delisting mechanics run on a tighter clock than the consolidation itself. A separate disclosure confirms Oricon's stock was designated for delisting from September 7 through September 27, with the last day of trading set for September 25 and removal from the TSE Standard market effective September 28. That is two days before the share consolidation formally takes effect.
The TDnet notice does address what happens to the stakes left behind by the consolidation: shares reduced to fractions are to be sold, with court permission, to the tender offeror at a price designed to equal ¥1,370 per pre-consolidation share, the same price used in the underlying tender offer, with proceeds expected to reach shareholders around mid-December 2026. What is confirmed is the vote count, the ratio, the resulting five-share capital structure, the fractional-share cash-out arrangement, and the delisting date now on the calendar for September 28, 2026.