Solasto Corporation's extraordinary shareholder meeting on July 6, 2026 approved a share consolidation that squeezes out nearly all outside investors, the last formal step in the healthcare and nursing-care operator's buyout by a vehicle backed by MBK Partners.
The mechanics are blunt: every 2,120,340 Solasto shares become one share. Only three holders end up owning a whole share afterward: MP-2605 Co., Ltd., the entity that ran the earlier tender offer; Daito Trust Construction; and Solasto's employee stock ownership association. Everyone else's stake collapses into a fraction of a share, which is where the payout comes in.
Solasto will sell off those fractional holdings and pay shareholders ¥1,119 for each underlying share, matching the price MP-2605 paid in its tender offer that ran from March 25 to May 11, 2026. The company plans to ask a court in late August for permission to sell the fractional shares to MP-2605, expects that sale to close around September, and aims to distribute the cash to shareholders by late November.
| Milestone | Date |
|---|---|
| Shareholders approve share consolidation | July 6, 2026 |
| Stock designated "securities to be delisted" | July 6, 2026 |
| Final trading day | August 5, 2026 (expected) |
| Delisting from TSE Prime | August 6, 2026 (expected) |
| Share consolidation takes legal effect | August 10, 2026 (expected) |
| Court petition to sell fractional shares | Late August 2026 (planned) |
| Fractional shares sold to MP-2605 | Around September 2026 (planned) |
| Proceeds paid to shareholders | Late November 2026 (planned) |
MP-2605's financing lines up familiar names on both sides. Funds serviced by MBK Partners are putting in 49,999 of MP-2605's 50,000 shares, with a holding company tied to Solasto chief executive Toru Noda supplying the rest, and the deal itself is backed by loans from Mizuho Bank, MUFG Bank and Aozora Bank. Solasto says it reviewed the financing and equity certificates attached to MP-2605's March tender filing and confirmed nothing since then threatens the payment.
Once the consolidation takes effect on August 10, Solasto's outstanding share count falls to 42 and its authorized share count to 168, and the company will strip out articles covering its 100-share trading unit and electronic delivery of shareholder-meeting materials, both moot once the stock is unlisted. Solasto filed the underlying notice confirming both resolutions passed as proposed. The company has not disclosed how many shares it will cancel from treasury before the consolidation takes effect, so the exact reduction in total issued shares remains undetermined for now.