Earnings, deals and disclosures from Japan's listed trading houses & wholesale companies, in English.
Mitsui raised its Nutrinova stake to 89% on November 12, a completed purchase, while its joint Penske Automotive take-private at $212 a share, decided on October 15, still needs shareholder and regulatory approval.
Inabata has decided to pay ULVAC ¥4.9bn for its 65% stake in a mask-blanks maker, lifting its own holding from 35% to 100%, with the share transfer scheduled for December 18.
Kanematsu Electronics now owns all of IDAJ and its subsidiaries at a final cost of ¥49.8bn including advisory fees, below the ¥50.4bn first estimate, with a minor expected effect on current-period earnings.
Toho Holdings has decided to end its examination of acquiring PHC Holdings, which had received a non-binding initial proposal; neither company's October 9 notice gives terms or a reason.
Shinko Shoji shareholders backed a 7,894,651-to-1 consolidation with 95.59% approval; Kaga Electronics is set to become sole owner after delisting expected on October 29, with minority cash of ¥1,580 per share expected in late March 2027.
KPP Group's Antalis has signed to buy nine Papyrus paper wholesalers and German assets with about €215mn in 2025 sales, subject to competition approvals in some countries, with the price undisclosed.
Japan Lifeline plans to pay up to $4.73mn, including a $4mn earn-out, for Cross Vascular, an FDA-cleared developer with no revenue reported for 2023 to 2025, and to inject another $7.27mn to pay its debts and fund operations.
Kanematsu Electronics is buying full control of Yokohama's IDAJ, a model-based design and simulation software specialist, for about ¥39.4 billion, a bet that trading-house manufacturing IT can move upstream into engineering design work, even though two of the target's smaller units are lossmaking with negative net worth.
Under a sponsor agreement signed September 16, Ledax will pay ¥670mn for full ownership of a new company that inherits Harika's roughly 100 stores and 450 corporate clients, while Harika's bank borrowings stay with the renamed original entity and closing is targeted for January 5, 2027.
Hanwa completed its purchase of 50.1% of Associated Steel Group on August 31 for $226mn, against a $347mn full-company benchmark set in June, with DBJ holding the rest and the earnings effect still outside current guidance.
ITOCHU Corporation says a Nikkei report of a planned tender offer didn't come from the company itself, but confirms its board is meeting the same day and will disclose any decision it reaches, promptly.
Metaplanet's board wants to hand over 2,100 Bitcoin and $2.5 million in cash for 95.7% of the votes in Nasdaq's Super League Enterprise, which would be renamed Superplanet and pivot into a bitcoin treasury business once SLE shareholders sign off, expected in the final quarter of 2026.
Kaga Electronics's stake in fellow electronics trader Shinko Shoji jumps from 1.74% to 72.45% after its tender offer cleared the minimum threshold, and a squeeze-out to delist the target from the Tokyo Stock Exchange comes next.
Yokohama Reito is moving four logistics centers into a trust, selling the beneficiary rights to a Bentall GreenOak vehicle for an estimated ¥5.9bn gain, and leasing the buildings straight back to fund new cold-storage capacity near Haneda and along the Ken-O corridor.
Mitsui & Co. and Penske Corporation have submitted a non-binding proposal to buy out the roughly 27.8% of Penske Automotive Group they don't already own, valuing the New York-listed retailer at $13.8bn.
Kaga Electronics lowered the minimum acceptance level in its ¥1,580-a-share tender for Shinko Shoji from 66.67% to 55.73% of shares and pushed the deadline to August 3, after Shinko Shoji's stock traded above the offer price.
Medipal Holdings' stake in PALTAC has climbed to 97.79% after a completed tender offer, and it is now forcing out the rest of the shareholders at ¥6,650 a share, a move that will end PALTAC's Tokyo Stock Exchange listing next month.
Kobe Bussan paid about ¥1.68bn for a 13.28% stake in Makiya to cement a franchise alliance, but it signed a standstill barring further accumulation above the closing-level ratio, plus a lock-up and right of first refusal favoring Makiya.
Closing the Aethon acquisition on July 14 pushed five entities over the 10% capital threshold that makes them reportable specified subsidiaries, from a $2.2bn Houston holding company to a $142mn Delaware asset-holder.
A ¥162.7bn loan-funded tender offer has taken Medipal Holdings' stake in PALTAC past 90%, and the wholesaler now plans to force out remaining shareholders at the same ¥6,650-a-share price.
Medipal's ¥6,650-a-share tender for PALTAC drew nearly three times the shares it needed, taking its stake to 92.64% and opening the door to a squeeze-out that will delist the wholesaler from the Tokyo Stock Exchange's Prime Market.
The move: Kaga Electronics extended its tender offer for Shinko Shoji to July 14, kept the price at ¥1,580 a share, delayed settlement to July 22 and shifted any follow-on shareholder meeting target to late September.
Kaga Electronics extended its Shinko Shoji tender offer to July 14 and pushed any squeeze-out meeting to late September, while saying the ¥1,580-a-share price is not being raised.
The company will absorb wholly owned subsidiary SPZ on Oct. 1, saying changing customer needs and market conditions call for resource optimization and a rebuilt operating structure. No consideration is involved and Solekia says the earnings impact should be minor.