Smaregi, the Osaka-based cloud POS operator listed on TSE Growth, told the exchange on September 25, 2026 that its board had approved an absorption-type company split to take over the net-POS business of CXD Next, a wholly owned subsidiary of Casio Computer. The two companies signed the split agreement the same day, with the transfer set to take effect December 1, 2026.
The price: ¥1. Smaregi's capital does not change as a result of the deal.
| Term | Detail |
|---|---|
| Acquirer | Smaregi, Inc. (TSE Growth: 4431) |
| Target business | CXD Next's net-POS business (register cloud services and cashless payment) |
| Consideration | ¥1 |
| Agreement signed | September 25, 2026 |
| Effective date | December 1, 2026 (planned) |
| Transferred business revenue | ¥191mn (year to March 2026) |
| Exclusions | CXD Next employee contracts; CXD Next's SMB business |
What's changing hands is CXD Next's register-linked cloud services and cashless-payment offering for stores, which generated ¥191mn in revenue in the year to March 2026. Smaregi's own business posted revenue of ¥13.35bn and operating profit of ¥3.22bn for the year to April 2026, so the acquired unit is small next to the buyer.
The catch is built into the deal. CXD Next announced in August 2024 that it would end the net-POS business entirely during 2029. Smaregi says it will keep running the service for existing customers until then, proposing that they migrate to its own cloud POS platform, with the aim of expanding its store-facing customer base.
The split does not carry everything over. CXD Next's employment contracts with its staff, and its separate SMB-focused sales and management-support software business, stay outside the deal. The assets and liabilities Smaregi will assume, covering items such as prepaid expenses, equipment and software, will be valued based on balances as of the day before the effective date, so their specific amounts are not yet stated. Smaregi expects the deal's effect on its results for the year ending in April 2027 to be minor. The notice qualifies for abbreviated disclosure because the projected increase in Smaregi's total assets is expected to stay under 10% of its net assets, and its revenue increase under 3% of sales, from the end of the most recent fiscal year. Separately, the transaction is classified under the Companies Act as a simplified split, so it needs no shareholder vote at Smaregi; CXD Next still needs its own shareholder approval before the December closing.