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Tokyo Brief東 京 ブ リ ー フJapan's day, wrapped and delivered by morning.

Japan M&A and Deals

Mergers, tender offers, buyouts and asset sales involving Japanese companies, in English.

  1. TOPPAN to tender its entire artience stake for about ¥45.8bn

    TOPPAN plans to tender all 10,446,988 artience shares in the affiliate's own buyback offer for about ¥45.8bn, with a consolidated gain of about ¥3bn and a parent-only gain of about ¥34.9bn if every share is accepted.

  2. Kadoya bid stays at ¥2,655 as talks with two trading houses go unresolved

    ITG-G's ¥2,655 offer for Kadoya runs to November 26 and assumes no non-tender deal with Mitsubishi Corporation or Mitsui & Co; agreement with both would lift the price to ¥2,944, according to the amended filing.

  3. Skylark agrees ¥12bn purchase of Fukuoka ramen operator Shin-Shin

    Skylark will pay ¥12bn for all of Shin-Shin, a Fukuoka ramen operator with ¥1.79bn of sales in the year to March 2026, planning overseas openings and shared supply; closing is scheduled for 30 November.

  4. Kadoya Sesame Mills keeps backing its tender offer as a rival's raised bid falls outside the deal's escape clause

    Kadoya Sesame Mills says a rival's re-proposal of up to ¥3,044 a share, contingent on shareholder buyback deals, cannot trigger price talks under its tender agreement, and the board still recommends the offer.

  5. Itoham Yonekyu completes ¥71.1bn Greenlea purchase as short-term debt rises

    ANZCO, Itoham Yonekyu's New Zealand unit, completed its Greenlea purchase on September 30 at a provisional ¥71.1bn, adding ¥57.3bn of provisional goodwill and lifting short-term borrowing while the equity ratio fell to 47.9%.

  6. Takara Bio resolves to hand GMP cell-processing business to S-RACMO

    Takara Bio resolved to conclude a basic agreement dated November 2 to transfer its GMP cell-processing contract business to S-RACMO, with a definitive split contract scheduled for November 16 and an effective date of January 1, 2027; the price is undisclosed.

  7. Kadoya Sesame tender offer runs to Nov 13 after rival proposal, ¥2,514 price unchanged

    ITG-G Holdings has lengthened its ¥2,514-a-share offer for Kadoya Sesame Mills to November 13 after a proposal from an unnamed bidder, while higher ¥2,644 and ¥2,620 prices depend on deals with Mitsubishi and Mitsui & Co.

  8. Kadoya Sesame rival bid tops ¥2,514 offer, but the ¥3,000 price needs shareholder deals

    A binding rival proposal for Kadoya Sesame Mills runs from ¥2,654 to ¥3,000 a share against ITG-G's ¥2,514, with the top price tied to non-tender deals with major shareholders, and ITG-G has extended its offer to November 13.

  9. Umios agrees C$804mn cash deal for Canadian seafood processor High Liner Foods

    Umios plans to pay about C$804mn in cash for all of High Liner Foods, hoping to carry its pollock into North American markets as higher-value products; completion is pencilled in for January 2027.

  10. Artnature to sell its whole Philippine wig plant as Bangladesh factory starts up

    Artnature will sell all shares in its Philippine wig-making subsidiary, with transfer planned for December 1, citing a fundamental review of production after its Bangladesh factory began operating; buyer and price are not disclosed.

  11. RenetJapanGroup plans ¥2.15bn share placement, with up to ¥3.34bn more in warrants

    RenetJapanGroup will take ¥2.15bn from share sales to JX Metals CS, SG Holdings and PCS Wireless, while up to ¥3.34bn more depends on PCS affiliates exercising warrants that would lift dilution to 37.92%.

  12. AFC-HD to take Saikaya private at 0.3 shares each, pending a November vote

    Saikaya shareholders vote on November 16 on swapping each share for 0.3 AFC-HD share, with delisting planned for December 11 and the exchange effective December 15, subject to change.

  13. Create Restaurants to sell Hong Kong subsidiary for HK$1

    Create Restaurants Holdings will transfer all shares of its Hong Kong subsidiary, set up in 2012, to a franchise partner for HK$1 on October 29; the company calls the effect on current-year results minor.

  14. Sugi takes control of affiliated drugstore chain years ahead of its 2030 plan

    Sugi Holdings raised its voting stake in an affiliated drugstore and pharmacy operator from 49.0% to 51.0% on 1 September, consolidating it as a subsidiary years before the June 2030 purchase it had first planned.

  15. World and TSI plan a March 2027 merger under Infinity United at a 1-to-0.8 ratio

    Each World share would convert into one Infinity United share and each TSI Holdings share into 0.8, a ratio just above the 0.77 to 0.78 market-price range, if both sets of shareholders approve at meetings planned for 24 December.

  16. Meiji sells negative-net-asset corn processor to Yoshimura after one-share recapitalisation

    Meiji will recapitalise a Hokkaido corn processor with one new share to erase its negative net assets, then transfer the company to Yoshimura Food Holdings on a planned November 1 date, at an undisclosed price.

  17. Pharma Foods agrees ¥5.03bn purchase of a hospital-meal supplier from a buyout fund

    Pharma Foods International will buy 100% of a medical-food supplier to hospitals and school-lunch operators from a buyout fund for ¥5.03bn, with the transfer planned for October 30 pending Japan Fair Trade Commission review.

  18. World and DBJ's joint fund plans a successor company for towel maker Uchino, with the old firm to be liquidated

    W&D, the 50-50 investment company of World and the Development Bank of Japan, plans to move all of Uchino's business and designated financial debts into a new subsidiary on December 1, then liquidate the old company.

  19. Teijin completes textile merger with Asahi Kasei unit, keeps 80% of TA Frontier

    Teijin completed the merger of its textile subsidiary with an Asahi Kasei subsidiary on 1 October 2026; the combined TA Frontier is 80% Teijin and 20% Asahi Kasei, and Teijin's guidance for the year to March 2027 is unchanged.

  20. Pan Pacific signs to take over Toys R Us Japan's stores and online business, pending court approval

    Pan Pacific International Holdings has signed a sponsor deal for the toy retailer's Japanese business, planned to complete on October 30 if the court grants permission, with landlord consent still needed for the stores it wants to keep.

  21. Kyorin signs to hand two generics plants to a Daito-led venture, keeping its authorized generics

    Kyorin Pharmaceutical has signed to sell its generics subsidiary, including the Takaoka and Inami plants, to a venture owned by Daito, Meiji Seika Pharma and DBJ, with closing planned for April 1, 2027 and authorized generics carved out.

  22. Kokuyo's board approves ¥28bn injection for Thien Long purchase vehicle, conditional on Vietnam approval

    Kokuyo's board has approved a ¥28bn capital increase in its Singapore acquisition vehicle to pay for Thien Long shares, but the injection depends on approval from Vietnamese authorities and has no date.

  23. KOURAKUEN to Buy a Sake Brewer Co-Owned by Its Own Chairman

    KOURAKUEN CORPORATION's board has agreed to buy all shares of a Fukushima sake brewer that is 60% owned by the chain's own chairman, at a price it is keeping confidential, as part of its alcohol-product strategy for a planned new line of station-front restaurants under its mid-term growth plan.

  24. Nissha Completes Half of Its Vietnam Medical-Device Exit, Keeps a 10% Tail Through 2028

    Nissha has handed over half its 60% stake in Vietnamese subsidiary USM HEALTHCARE MEDICAL DEVICES FACTORY to a company director, pulling the unit out of consolidation, while the remaining 10% stays on its books for a planned sale between 2027 and 2028, with the resulting gain or loss still under review.