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Latest Tokyo Brief coverage on Nippon Sheet Glass Company,Limited, tracking filings, financial news, and market signals from Japan.
TSE:5202
Regulatory clearances are done for Apollo's ¥165.0bn recapitalization of Nippon Sheet Glass, and the company now has a dated sequence: payment on August 31, delisting on September 28, and a share consolidation on September 30 that leaves the Apollo-backed vehicle as sole shareholder.
Nippon Sheet Glass posted a small net profit last quarter on yen weakness and automotive pricing, but the real news is procedural: shareholders have approved Apollo's ¥165bn equity injection and lenders' separate ¥140bn debt-to-equity swap, with the company still targeting completion in the second half of the year to March 2027 pending regulatory sign-off.
The vote passed the authorized-share increase, share consolidation, share-unit rule changes and six-director slate behind a capital restructuring whose October and November milestones remain provisional pending competition, foreign-investment and Foreign Subsidies Regulation procedures.