📋 Material Events 1942

Hitachi Construction Machinery Co., Ltd.

6305 · 日立建機株式会社

Hitachi Construction Machinery announced a change in representative executive officers effective April 1, 2026. Yusuke Kajita will step down from his position as Representative Executive Officer and Executive Vice President, while Yoshihiro Narikawa will be promoted to Representative Executive Officer from his current role as Executive Managing Officer. Following this transition, the company will have three representative executive officers: Kotaro Hirano, Masafumi Sakisaki, and Yoshihiro Narikawa.

CrowdWorks, Inc.

3900 · 株式会社クラウドワークス

The company entered into a confidentiality agreement with shareholder Hiroyuki Maki on February 27, 2026, which restricts the shareholder from acquiring, transferring, or disposing of the company's ordinary shares without prior consent for an approximately 3-month period. This agreement is intended to facilitate friendly engagement to maximize corporate value and shareholder interests.

TOIN CORPORATION

7923 · トーイン株式会社

CSRI 5 Godo Kaisha, a special controlling shareholder, has issued a stock sale request (株式売渡請求) under Japan's Companies Act Article 179-3, requiring all minority shareholders to sell their shares at 1,187 yen per share. The company's board approved this request on February 27, 2026, completing the two-step acquisition process to make the target a wholly-owned subsidiary of CSRI 5.

FUTABA INDUSTRIAL CO., LTD.

7241 · フタバ産業株式会社

The company's Board of Directors approved a change in the position of Representative Director and President on February 27, 2026. Yoshihiro Uozumi is retiring as Representative Director and President, and will be succeeded by Toshiyuki Hisatsune, who will be promoted from Executive Officer to the roles of Representative Director and President.

FUTABA INDUSTRIAL CO., LTD.

7241 · フタバ産業株式会社

The company decided to divest its entire ownership stake in Tianjin Shuangxie Machinery Industry Co., Ltd. (天津双協機械工業有限公司) by transferring all equity interests to Chuangzaoshe Trading Co., Ltd. (創造社貿易有限公司) for liquidation purposes. This decision was made on February 27, 2026, as part of the company's strategy to reallocate resources toward high-growth business areas and improve group operational efficiency.

DeNA Co., Ltd

2432 · 株式会社ディー・エヌ・エー

The company resolved on February 27, 2026 to sell 6,000,000 shares of Nintendo Corporation as part of a strategic review of policy-held securities to improve asset efficiency. The sale will reduce Nintendo shareholdings from approximately 8.8 million to 2.8 million shares, with the gain recognized as special profit in individual financial statements for the fiscal year ending March 2026.

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The company announced a change in representative director (代表取締役) effective April 1, 2026. Kazuhiro Chida will be promoted from Senior Executive Officer to Representative Director and President, while Nobuki Iwatate will assume the position of Representative Director and Vice President. Incumbent CEO Shoichi Iwanaga will transition to Chairman.

Yodogawa Steel Works,Ltd.

5451 · 株式会社淀川製鋼所

The company has decided to divest all shares held in Sadoshima Co., Ltd., an affiliated company accounted for under the equity method. The share sale is scheduled for March 18, 2026, and is expected to generate a gain on sale of approximately ¥9,765 million in individual financial statements and ¥1,500 million in consolidated financial statements for the fiscal year ended March 2026.

CHORI CO.,LTD.

8014 · 蝶理株式会社

The company's board of directors resolved on February 27, 2026 to liquidate its consolidated subsidiary Sumocho Corporation and forgive outstanding loans totaling $41.38 million (approximately ¥6,478 million). The debt forgiveness is expected to reduce corporate income taxes by approximately ¥2,178 million in fiscal year ending March 2026, as previously non-deductible loan loss provisions become tax-deductible.

Japan Asia Investment Company, Limited

8518 · 日本アジア投資株式会社

The company terminated two anonymous partnership subsidiaries (合同会社JDIP-8 and JDIP-11) that were engaged in disability group home rental operations. The termination occurred due to a strategic shift from anonymous partnership investment schemes to direct lending schemes for disability group home projects. The company's operational control rights decreased from 100% to 0% in both entities as of February 27, 2026.

3-D Matrix,Ltd.

7777 · 株式会社スリー・ディー・マトリックス

The company's Board of Directors resolved on February 25, 2026 to transition the Representative Director position. Toshihiko Amanuma will become Representative Director and President on April 1, 2026, succeeding Atsushi Okada who will step down on March 31, 2026 and remain as Director.

Resona Holdings, Inc.

8308 · 株式会社 りそなホールディングス

The company's board of directors decided on February 27, 2026, to appoint two new Representative Executive Vice Presidents effective April 1, 2026. Isa Shinichiro and Iwatate Nobuki, both current executives with extensive experience in digital transformation and group strategy roles, will assume their new positions.

Flier Inc.

323A · 株式会社フライヤー

The company decided to acquire all ordinary shares of Zealox Inc., a women-focused web design school operator, and consolidate it as a subsidiary. The acquisition price is 350 million yen plus 47 million yen in advisory fees. The company will finance this acquisition through a 350 million yen loan from Sumitomo Mitsui Banking Corporation with financial covenants, with repayment due by February 28, 2029.

TRADE WORKS Co., Ltd

3997 · 株式会社トレードワークス

The company will replace its external auditor from Shido Audit Corporation (監査法人シドー) to Izumi Audit Corporation (和泉監査法人) effective March 27, 2026, at the conclusion of the 28th ordinary general meeting of shareholders. The change is motivated by the long tenure of the outgoing auditor and the desire to introduce fresh perspectives while maintaining professional expertise, independence, and quality management standards.

The Shibusawa Warehouse Co.,Ltd.

9304 · 澁澤倉庫株式会社

Shibusawa Warehouse Co., Ltd. resolved to partially revise its J-ESOP (Japanese-style Employee Stock Ownership Plan) and approved the issuance of 600,000 common shares to a trust arrangement with Mizuho Trust Bank. The shares, priced at ¥1,386 per share (total value ¥831.6 million), will be held in trust and distributed to eligible employees based on position and grade-based points.

Medical Data Vision Co., Ltd.

3902 · メディカル・データ・ビジョン株式会社

Nippon Life Insurance (Nihon Seimei Hoken) has launched a public tender offer to acquire all outstanding shares of the company. Following the tender offer results, a stock consolidation will be implemented to ensure only Nippon Life, SBI Holdings (as a non-tendering shareholder), and the company itself remain as shareholders.

TS TECH CO., LTD.

7313 · テイ・エス テック株式会社

Yasuta Masanari, the current Representative Director and President, will step down as Representative Director at the conclusion of the 80th Annual General Meeting of Shareholders scheduled for June 2026, with his term expiring. He will remain as a Director until that date, holding 101,000 shares as of January 2026.

SHIKIBO LTD.

3109 · シキボウ株式会社

The company implemented a new borrowing of ¥8.0 billion under a syndicated commitment line contract with 15 financial institutions on February 27, 2026, while repaying ¥6.88 billion of existing debt. The borrowing is unsecured with a repayment deadline of March 31, 2026, and includes financial covenants requiring maintenance of equity above 75% of prior year and consecutive profitable operating results.

MINATO HOLDINGS INC.

6862 · ミナトホールディングス株式会社

Minato Holdings K.K. resolved on February 27, 2026 to acquire 100% of the shares of Fuji Denkou K.K., making it a wholly-owned subsidiary. The acquisition aims to leverage Fuji Denkou's diverse product lineup and strong supply chain in the wire and cable business alongside Minato's digital technology capabilities to enhance customer proposals and expand sales opportunities.

H.I.S. Co., Ltd.

9603 · 株式会社エイチ・アイ・エス

The company's board of directors resolved on February 27, 2026 to transfer all shares of its subsidiary hapi-robo st Co., Ltd. The divestiture is scheduled for March 31, 2026, and will result in the subsidiary no longer being classified as a subsidiary of the company.

SERAKU.,Co.Ltd.

6199 · 株式会社セラク

The company will receive dividend payments totaling 788 million yen from two consolidated subsidiaries (Seraku CCC Co., Ltd. and Seraku Business Solutions Co., Ltd.) on March 10, 2026. The dividend will be recorded as non-operating revenue in the company's individual financial statements for the fiscal year ending August 2026, with no impact on consolidated earnings as these are intra-group transactions.

Nintendo Co., Ltd.

7974 · 任天堂株式会社

The company is conducting a secondary equity offering of common shares through underwriters, with a portion of approximately 32.7 million shares to be sold to overseas investors in Europe and Asia (excluding US and Canada). The offering price and number of shares will be determined between March 9-12, 2026, based on market demand, with delivery scheduled for March 16-19, 2026.

KISSEI PHARMACEUTICAL CO.,LTD.

4547 · キッセイ薬品工業株式会社

Kissei Pharmaceutical Co., Ltd. resolved to introduce a restricted stock grant program through its employee stock ownership association (持株会) to enhance employee engagement and promote value sharing with shareholders. The company will distribute 504,300 shares of common stock with transfer restrictions to eligible employees through the association, with a total issue price of approximately ¥2.4156 billion at ¥4,790 per share.

Open Door Inc.

3926 · 株式会社オープンドア

The company recognized an impairment loss on investment securities due to a significant decline in fair value compared to acquisition cost. The impairment loss of 952 million yen was recorded as an extraordinary loss in the third quarter of fiscal year ending March 2026, affecting both individual and consolidated financial statements.

T&D Holdings, Inc.

8795 · 株式会社T&Dホールディングス

Hirohisa Uehara transitioned from Representative Director and Chairman (代表取締役会長) to Chairman (取締役会長) effective March 31, 2026. He is scheduled to assume the position of Board Chairman (取締役会議長) on April 1, 2026. This management change was decided at a Board of Directors meeting held on February 27, 2026.

SENSHU ELECTRIC CO.,LTD.

9824 · 泉州電業株式会社

Izumi Dengyou has decided to dispose of treasury shares to the Izumi Dengyou Employee Stock Ownership Association (持株会) as part of a restricted stock incentive program for employees. Approximately 30,300 shares will be allocated to eligible employees (606 employees at 50 shares each) with a total value of approximately ¥194,526,000 at ¥6,420 per share, with a restriction period from April 24, 2026 to April 23, 2029.

Nishimatsu Construction Co., Ltd.

1820 · 西松建設株式会社

The company sold a portion of its investment securities holdings between December 2025 and February 2026 to rationalize its policy portfolio and improve asset efficiency in accordance with the Corporate Governance Code. This transaction will result in recording investment securities gain of 5,500 million yen in extraordinary gains for the fiscal year ending March 2026.

ANA HOLDINGSINC.

9202 · ANAホールディングス株式会社

The company's Board of Directors resolved on February 25, 2026, to change its Representative Director (代表取締役) effective April 1, 2026. Nakahori Kimihiro will assume the position of Representative Director and Senior Managing Executive Officer, succeeding Hirasawa Juichi who will transition to Director. Nakahori brings extensive financial and CFO experience spanning 38 years at the company and its parent All Nippon Airways.

YUASA TRADING CO.,LTD.

8074 · ユアサ商事株式会社

The company's Board of Directors resolved on February 19, 2026 to change its representative director (CEO). Hideaki Murayama will become Representative Director and President/CEO in late June 2026 following shareholder approval, while Kenichi Tanaka will retire from his position as Representative Director and Executive Vice President at the same time.

SENKO Group Holdings Co.,Ltd.

9069 · センコーグループホールディングス株式会社

Dalton Investments, Inc., a major shareholder, increased its voting rights from 9.76% to 10.62% of total shareholder voting rights as of February 18, 2026. This extraordinary report was filed pursuant to the Financial Instruments and Exchange Act Article 24-5(4) to disclose the material change in major shareholder composition.

SOFTCREATE HOLDINGS CORP.

3371 · 株式会社ソフトクリエイトホールディングス

The company's board of directors resolved on February 27, 2026 to acquire an additional 75% stake in Meguri Inc., a subsidiary currently 5% owned through its subsidiary ecbeing Inc., thereby consolidating it as a subsidiary. The acquisition is valued at approximately 1,891 million yen (including advisory fees) and is aimed at strengthening omnichannel capabilities and expanding EC solution services.

Osaki Electric Co.,Ltd.

6644 · 大崎電気工業株式会社

Oji Holdings' consolidated subsidiary Osaki Estate Co., Ltd. agreed to sell real estate assets (land and building) located in Minato Ward, Tokyo to Escon Corporation for approximately 6 billion yen in gain on sale. The transaction is scheduled to close in late March 2026, with the gain to be recorded as extraordinary income in the fiscal year ending March 2026.

YURTEC CORPORATION

1934 · 株式会社ユアテック

The company recorded a special loss of approximately 4.7 billion yen related to its Vietnamese subsidiary SIGMA ENGINEERING JSC due to deteriorated profitability caused by prolonged COVID-19 impacts on private sector projects and delayed wind power market investments. The consolidated financial statements will record 2.9 billion yen in special losses comprising 2.0 billion yen in goodwill amortization and 0.9 billion yen in impairment losses on customer-related and operational assets.

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The company completed a third-party allocation of new shares on February 27, 2026, resulting in changes to major shareholders. Four shareholders (Kaneko Seed Co., Ltd., Coshidaka Holdings Co., Ltd., JINS Holdings Co., Ltd., and Yamato Co., Ltd.) had their voting rights diluted from 10.36% to 9.20% due to the issuance of 1,220 new voting rights, though they remain major shareholders.

ZOOM CORPORATION

6694 · 株式会社ズーム

The company is replacing its current statutory auditor Taiyo Limited Liability Audit Corporation with Forvis Mazars Japan Limited Liability Audit Corporation, effective March 26, 2025 (at the conclusion of the 43rd Annual Shareholder Meeting). The change aims to strengthen the group's global audit capabilities, particularly leveraging Forvis Mazars' strong network in Europe and North America where the company has important operations, and to create a more efficient and effective audit framework across the group following the appointment of a Forvis Mazars affiliate as auditor of the German subsidiary in fiscal 2025.

Oji Holdings Corporation

3861 · 王子ホールディングス株式会社

The company's Board of Directors resolved on February 27, 2026 to transition the Representative Director. Kaku Masatoshi will step down from his position as Representative Director & Chairman and assume the role of Director, effective April 1, 2026.

UNITIKA LTD.

3103 · ユニチカ株式会社

The company resolved to dissolve Nihon Ester Co., Ltd., a wholly-owned subsidiary, at a Board of Directors meeting held on February 26, 2026. Following the dissolution, Nihon Ester will cease to be a specified subsidiary of the company. The dissolution date has not yet been determined.

kubell Co.,Ltd.

4448 · Chatwork株式会社

The company recognized significant impairment losses and valuation adjustments totaling approximately 3,733 million yen related to its subsidiaries Minajin Co., Ltd. and Kubell Storage Co., Ltd. following an assessment of recoverability. The charges include goodwill impairment, equity valuation losses, doubtful debt allowances, and guarantee loss provisions recognized in the fiscal year 2024.

H.U. Group Holdings, Inc.

4544 · H.U.グループホールディングス株式会社

H.U. Group Holdings resolved to dispose of 1,120,000 treasury shares to trust accounts: 910,000 shares for the executive performance-linked stock compensation program (BIP Trust) and 210,000 shares for the employee stock ownership plan (ESOP Trust). The shares will be allocated to Japan Master Trust Bank as co-trustee at a price of 3,293 yen per share, totaling approximately 3.688 billion yen, with settlement on March 18, 2026.

TESS Holdings Co., Ltd.

5074 · テスホールディングス株式会社

Tes Engineering Co., Ltd., a consolidated subsidiary, entered into a syndicated loan agreement on February 18, 2026, with Sumitomo Mitsui Bank as the arranger. The loan amount is ¥9,000 million with a repayment deadline of March 31, 2026, subject to financial covenants requiring maintenance of net assets and operating profit thresholds.

TESS Holdings Co., Ltd.

5074 · テスホールディングス株式会社

Tes Engineering Co., Ltd., a consolidated subsidiary, entered into a syndicated loan agreement on January 16, 2026, for 9.0 billion yen arranged by Sumitomo Mitsui Banking Corporation. The loan includes financial covenants requiring maintenance of minimum equity levels and operational profitability, with a maturity date of February 27, 2026, and is unsecured.

TESS Holdings Co., Ltd.

5074 · テスホールディングス株式会社

Tes Engineering Co., Ltd., a consolidated subsidiary, entered into a money lending agreement on November 19, 2025, with a syndicate led by Sumitomo Mitsui Banking Corporation. The loan of 9,000 million yen is unsecured with a maturity date of December 30, 2025, and includes financial covenants requiring maintenance of minimum equity levels and non-negative operating income.

TESS Holdings Co., Ltd.

5074 · テスホールディングス株式会社

Tes Engineering Co., Ltd., a consolidated subsidiary, entered into a money lending agreement on October 17, 2025, with a syndicate arranged by Sumitomo Mitsui Banking Corporation. The loan of ¥8,100 million is unsecured with a repayment deadline of November 28, 2025, and includes financial covenants requiring maintenance of minimum equity levels and non-negative operating income.

TESS Holdings Co., Ltd.

5074 · テスホールディングス株式会社

Tes Engineering Co., Ltd., a consolidated subsidiary, entered into a money loan contract on September 17, 2025, with a syndicate led by Sumitomo Mitsui Banking Corporation. The loan is for 6,930 million yen with a repayment deadline of October 31, 2025, and includes financial covenants requiring maintenance of minimum equity levels and operational profitability.

The Takigami Steel Construction Co.,Ltd.

5918 · 瀧上工業株式会社

Mannenao Investment Business Limited Liability Partnership ceased to be a major shareholder of the company as its voting rights decreased from 12.28% to 9.98% of total voting rights on February 24, 2026. This change is reportable under the Financial Instruments and Exchange Act Article 24-5(4) as the shareholder's ownership fell below the major shareholder threshold.

TESS Holdings Co., Ltd.

5074 · テスホールディングス株式会社

Tes Engineering Co., Ltd., a consolidated subsidiary, entered into a money loan agreement with a syndicate led by Sumitomo Mitsui Banking Corporation on August 18, 2025, for 6,030 million yen. The loan is unsecured with a repayment deadline of September 30, 2025, and includes financial covenants requiring maintenance of minimum equity levels and non-negative operating profit.

TESS Holdings Co., Ltd.

5074 · テスホールディングス株式会社

Tes Engineering Co., Ltd., a consolidated subsidiary, entered into a money lending agreement with a syndicate led by Sumitomo Mitsui Banking Corporation on July 18, 2025. The loan of 6,030 million yen is unsecured with repayment due by August 29, 2025, and includes financial covenants requiring maintenance of minimum equity levels and operating profitability.

TESS Holdings Co., Ltd.

5074 · テスホールディングス株式会社

Tes Engineering Co., Ltd., a consolidated subsidiary, executed a money loan contract with a syndicate led by Sumitomo Mitsui Banking Corporation on June 18, 2025. The loan of 5,220 million yen is unsecured with a repayment deadline of July 31, 2025, subject to financial covenants requiring maintenance of minimum equity and non-negative operating profit.

TESS Holdings Co., Ltd.

5074 · テスホールディングス株式会社

Tes Engineering Co., Ltd., a consolidated subsidiary, entered into a money lending contract with a syndicate arranged by Sumitomo Mitsui Banking Corporation on May 16, 2025. The loan of 6,660 million yen is unsecured with a repayment deadline of June 30, 2025, and includes financial covenants requiring maintenance of minimum equity levels and non-negative operating income.

TESS Holdings Co., Ltd.

5074 · テスホールディングス株式会社

The consolidated subsidiary Tes Engineering Co., Ltd. entered into a money lending agreement on April 18, 2025, with a syndicate arranged by Sumitomo Mitsui Banking Corporation. The loan of 6,030 million yen is unsecured with a repayment deadline of May 30, 2025, and includes financial covenants requiring maintenance of minimum equity levels and operating profit thresholds.