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WOWOW takes control of Lemino, while buybacks do the talking
Streaming gets more convoluted just as shareholder payouts get more straightforward: WOWOW sketches a four-step Lemino takeover while Tamron and Hoshizaki make capital policy unusually legible.
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lead
Deal of the Day
WOWOW sets up four-step deal to control Lemino with NTT Docomo
WOWOW plans to set up a new company on June 17, have NTT Docomo move Lemino into it via an absorption-type split, then buy 51% of the vehicle so it becomes a joint venture from Oct. 1. In parallel, WOWOW will issue 815,800 new shares to Docomo for gross proceeds of about ¥841.1m, while saying the 51% purchase itself will be funded with WOWOW cash. The structure matters because Docomo will end up both as a 49% partner inside the venture and a direct shareholder in WOWOW outside it. The catch is that the split consideration can still be adjusted, the assets and liabilities moving with Lemino are not yet fixed, and WOWOW says the effect on the year ending March 2027 is still being assessed.
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Capital Moves
Hoshizaki pairs JAC alliance with a buyback cap to offset dilution
The company will place 2,329,100 treasury shares with Japan Activation Capital-serviced funds and use the ¥12,091,003,600 net proceeds for a market buyback of up to the same size. The authorization runs from July 9, 2026 to March 31, 2027 and is expected to start only after Hoshizaki's current buyback program ends, so the anti-dilution logic is clear even if the full offset is not guaranteed.
Tamron lifts dividend to ¥51 a share and rewrites its return policy
The optics maker raised this year's dividend forecast to ¥51 a share from ¥37, lifting the interim payment to ¥20 and the year-end payout to ¥31. From 2027, dividends will be set at whichever is higher, a 60% payout ratio or 8% DOE, and Tamron says it plans about ¥18 billion of additional returns by the end of 2029.
Axelspace lines up new and extended KSAT antenna access for GRUS series
Axelspace agreed on June 16 to a new five-year antenna contract with KSAT, including backup support for satellites already in operation, plus a two-year extension of an existing contract; both are scheduled to be signed on June 23. The company says the contract amounts exceed 10% of consolidated sales in the year ended May 2025, but it left its outlook for the year to May 2026 unchanged.
Intage redraws its reporting lines around Insight and Data Tech
Starting with first-quarter results for the year ending June 2027, the group will move from three segments to two, replacing its two Marketing Support lines and Business Intelligence with Insight and Data Tech. Management says the change is meant to align research, AI and data-use infrastructure with its 2030 plan, but it has not yet provided a historical financial bridge.
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Filing Scoreboard
Daiichi Life’s earnings mix shifts toward investments
Premium and other income rose to ¥6,944,066,000,000 in the year to March 2026, but investment income made the bigger jump, reaching ¥3,735,313,000,000. Ordinary income was nearly flat at ¥753,688,000,000, while total assets ended the year at ¥74,159,096,000,000.
Megmilk Snow Brand keeps sales flat as parent profit jumps
Net sales were ¥615.76 billion in the year to March 2026, essentially unchanged from ¥615.81 billion a year earlier, while ordinary income edged up to ¥20.48 billion. Profit attributable to owners of the parent rose to ¥32.89 billion from ¥13.90 billion, and the filing does not spell out why the bottom line moved so sharply.
Tsugami’s latest year turned higher sales into higher returns
Revenue reached ¥129.14 billion in the year to March 2026, profit before tax rose to ¥35.62 billion and ROE improved to 23.4%. The filing's five-year summary shows the latest year as the high point for both revenue and pre-tax profit, with the owners' equity ratio also rising to 52.0%.
Nisshin OilliO lifted sales, but ordinary income slipped in the year to March
Net sales reached ¥554,251,000,000 in the year to March 2026, up from ¥530,878,000,000 a year earlier, while ordinary income slipped to ¥16,030,000,000 from ¥18,089,000,000. Profit attributable to owners of parent still climbed to ¥23,988,000,000, leaving investors with a bigger business and a less tidy earnings bridge.
Shimizu Bank returns to firmer ground with ¥3.13bn ordinary profit
The bank reported ordinary income of ¥33,674,000,000, ordinary profit of ¥3,134,000,000 and profit attributable to owners of parent of ¥2,000,000,000 for the year to March 2026. Total assets ended the year at ¥1,813,848,000,000, a clear step away from the loss-making year to March 2024.
quick hits
Quick Hits
SAAF says shareholder EGM demand breaches seven-seat board cap
Read moreThe company says shareholder Toshimori Mae's demand would breach its seven-director cap, citing a June 10 Tokyo District Court decision that it says left the incumbent seven directors in office. The annual meeting is set for June 29.
Fukuda Denshi trims AGM board slate after nominee resigns
Read moreAfter director candidate Kotaro Fukuda resigned on June 16, the company cut its June 26 board election proposal to 10 directors from 11. Related pay-cap and stock-compensation proposals were rewritten to match, while votes already cast on Proposal 1 will count only for the remaining 10 nominees.
GO’s listing sell-down cuts DeNA below 5%
Read moreDeNA's voting-rights stake fell to 4.99% from 25.75% and NTT Docomo's to 3.66% from 18.28% after a listing-related share sale. Because GO's issued share count stayed at 77,679,600, this reads as an ownership redistribution story rather than fresh dilution.
Ikuyo becomes major shareholder in Kasai Kogyo after stake rises to 11.61%
Read moreIkuyo raised its holding to 5,263,500 shares, or 11.61%, from 9.54%, while Kasai's own extraordinary report shows 11.79% on a voting-rights basis. Ikuyo describes the position as pure investment plus possible future alliance considerations.
Career Design Center lifts year-end dividend to ¥160, adds ¥20 special payout
Read moreThe company lifted its planned year-end dividend to ¥160 a share from ¥130, split between ¥140 of ordinary dividend and a ¥20 special dividend. Management tied the change to firm trading and expected record cumulative third-quarter revenue and profit.
Artner splits shares in two, says dividend revision is only mechanical
Read moreThe company will split each share into two on Aug. 1, doubling shares outstanding to 21,255,840 and lifting authorized shares to 72 million. Its new ¥21.50 year-end dividend is a post-split figure equivalent to ¥43.00 on a pre-split basis, leaving the annual payout effectively unchanged at ¥86.00.
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Late Filing Readouts
Astellas revenue passes ¥2.1tn as profit and ROE recover
Revenue rose to ¥2,139,245,000,000 in the year to March 2026 from ¥1,912,323,000,000 a year earlier, while profit before tax jumped to ¥376,587,000,000 and net profit attributable to owners of parent to ¥291,535,000,000. ROE reached 17.4%, and a separate internal control report said financial-reporting controls were effective as of March 31.
Capcom nears ¥200bn in sales as profit figures hit five-year highs
Net sales reached ¥195.36 billion, ordinary income ¥74.13 billion and profit attributable to owners of parent ¥54.58 billion, all the top figures in the filing's five-year summary. A separate internal control report said controls were effective and highlighted game software work in progress and deferred revenue tied to free downloadable content as key review areas.