📋 Material Events 2113

Sompo Holdings, Inc.

8630 · SOMPOホールディングス株式会社

SOMPO Holdings announced a management transition effective April 1, 2026, in which Katsushi Tajiri will be promoted from Executive Officer to Representative Executive Officer (Group CFO), while Masahiro Hamada will step down from Representative Executive Officer Deputy President to become a Director and Executive Officer. Tajiri brings extensive international experience in M&A and overseas business operations within the SOMPO group.

RAKUS Co.,Ltd

3923 · 株式会社ラクス

The company has decided to divest all shares of its consolidated subsidiary Raks Partners Co., Ltd. to BREXA Technology Co., Ltd. As a result of this share transfer, Raks Partners will be deconsolidated from the company's financial statements. The company expects to record a gain on sale of affiliated company shares of approximately 16.5 billion yen (consolidated) in the first quarter of fiscal year ending March 2027.

MITSUI MATSUSHIMA HOLDINGS CO.,LTD.

1518 · 三井松島ホールディングス株式会社

The company's Board of Directors meeting held on February 13, 2026 approved a change in representative director position. Shinichiro Kushima, currently serving as Representative Director and Chairman (born June 4, 1951), will transition to an advisory role (Sōdan-yaku) effective June 19, 2026.

ProjectHoldings,Inc.

9246 · 株式会社プロジェクトホールディングス

Project Holdings Co., Ltd. decided to issue 962 units of stock acquisition rights (6th series) to directors, executive officers, and employees of the company and its subsidiaries. The rights have an issue price of 900 yen per unit, with an exercise price of 1,154 yen per share, exercisable between April 1, 2029 and March 17, 2036, contingent on EBITDA performance targets being met during fiscal years 2028-2030.

Advance Create Co.,Ltd.

8798 · 株式会社アドバンスクリエイト

The company has recognized a special loss due to decreased profitability of fixed assets. This resulted in an impairment loss of 60,344 thousand yen and an addition to the provision for guarantee losses of 4,564 thousand yen, totaling approximately 64,908 thousand yen in charges against earnings.

EnBio Holdings,Inc

6092 · 株式会社エンバイオ・ホールディングス

The company decided to withdraw from its biomass gasification power generation business in Turkey as of February 13, 2026. This business exit resulted in special losses of 478 million yen (provision for doubtful accounts) in individual financial statements and 915 million yen (business withdrawal loss) in consolidated financial statements for the fiscal year ending March 2026.

PUNCH INDUSTRY CO.,LTD.

6165 · パンチ工業株式会社

The company recognized a material impairment loss of 411 million yen on shares of its consolidated subsidiary ASCe due to a significant decline in their fair value. The impairment was recorded as an extraordinary loss in the third quarter of fiscal year ending March 2026, though it will be eliminated in consolidation with no impact on consolidated earnings.

INTRANCE CO.,LTD.

3237 · 株式会社イントランス

The company recorded a derivative valuation loss of 27 million yen in the third quarter of fiscal year ending March 2026, resulting from a self-stock price forward contract transaction. This non-operating expense materially affects the company group's financial position, operating results, and cash flow situation.

Yashima & Co., Ltd.

7677 · 株式会社ヤシマキザイ

The company's Board of Directors resolved on February 13, 2026, to change its representative directors effective April 1, 2026. Shōichirō Seki will be promoted to Representative Director and President, while Masahiro Abe will be appointed as Representative Director and Vice President. Incumbent representatives Atsushi Satō and Kazuaki Takada will step down from CEO roles, transitioning to non-executive director positions.

AVANTIA CO., LTD.

8904 · 株式会社AVANTIA

The company established an overseas subsidiary, Avantia USA Inc., in Delaware on December 26, 2025, through a capital investment that resulted in the subsidiary becoming a specified subsidiary (特定子会社). The investment gives the parent company 100% voting rights, with the subsidiary's capital of $2.5 million meeting the threshold of at least 10% of the parent company's capital.

J Trust Co.,Ltd.

8508 · Jトラスト株式会社

The company has decided to divest all shares of TA Asset Management Loan Company (TA資産管理貸付株式会社), a consolidated subsidiary based in Seoul, South Korea. The divestiture is scheduled for March 13, 2026, and will result in the subsidiary being deconsolidated from the company's financial statements.

Kuroda Group Co., Ltd.

287A · 黒田グループ株式会社

The company's three specified subsidiaries—Kuroda Filtration Systems Technology (Shenzhen) Co., Ltd., Shanghai Kuroda Trading Co., Ltd., and Kuroda Manufacturing Vietnam Co., Ltd.—underwent capital reductions that resulted in their capitalization falling below 10% of the parent company's capital. Consequently, these three subsidiaries no longer qualify as specified subsidiaries under financial instruments exchange law. The capital reductions became effective on July 9, July 16, and October 8, 2025, respectively.

FRIENDLY CORPORATION

8209 · 株式会社フレンドリー

The company recorded an impairment loss on fixed assets as an extraordinary loss in the third quarter of the 72nd fiscal period. The impairment loss of 7,657 thousand yen was recognized following a Board of Directors resolution on February 13, 2026, due to a significant impact on the company's financial position and operating results.

DENTSU GROUP INC.

4324 · 株式会社電通グループ

The company reported significant impairment losses totaling 310.12 billion yen on goodwill in the EMEA and Americas regional segments for Q4 FY2025 (IFRS), reflecting economic headwinds and future risks in overseas operations. Additionally, the company recorded 118.55 billion yen in equity valuation losses and 171.86 billion yen in loan loss provisions for subsidiary Dentsu International Limited due to impaired recoverability of subsidiary investments and related party loans.

Milbon Co., Ltd.

4919 · 株式会社ミルボン

The company's audit firm will be changed from Gyosei Audit Corporation to EY Shinnihon Limited Liability Audit Corporation effective March 27, 2026, following the 66th Annual Shareholders Meeting. The change is driven by the auditor's lengthy 30-year tenure and the desire for fresh audit perspectives, coupled with expansion of global business operations.

WAKACHIKU CONSTRUCTION CO.,LTD.

1888 · 若築建設株式会社

Wakatsu Construction entered into a capital and business alliance agreement with Aso Corporation and ACVE Holdings on February 12, 2026, whereby ACVE Holdings will conduct a public tender offer for Wakatsu shares. The transaction aims to expand business domains through synergies in port infrastructure, disaster prevention/mitigation, and human capital development between the two groups.

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Mitsui Sumitomo Aioi Fire and Marine Insurance Company will acquire Aioi Nissay Dowa Insurance Company through an absorption merger, with the merged entity to be renamed Mitsui Sumitomo Aioi Insurance Company, effective April 1, 2027. Both companies are wholly-owned subsidiaries of MS&AD Insurance Group Holdings. The merger aims to create a stronger damage insurance company with enhanced governance and risk solutions capabilities.

INTERTRADE CO.,Ltd.

3747 · 株式会社インタートレード

The company recorded an equity method investment loss of 47,692 thousand yen from its equity method affiliates Digital Asset Markets Co., Ltd. and AndGo Co., Ltd. in the first quarter of fiscal year 2026. Additionally, the company recognized a gain on equity interest change of 230,114 thousand yen resulting from Digital Asset Markets' capital increase.

Cominix Co.,Ltd.

3173 · 株式会社Cominix

Kawanobe Seisakusho Co., Ltd., a consolidated subsidiary of the company, sold a portion of its investment securities holdings in December 2025 to strengthen financial condition and optimize management resources. The sale is expected to generate approximately ¥248 million in gains on sale of securities to be recorded as extraordinary profit in the fiscal year ending March 2026.

Sharing Innovations Inc.

4178 · 株式会社Sharing Innovations

The company announces a planned change in representative director (代表取締役社長) effective March 25, 2026. Tsutsumi Takahiro will assume the role of Representative Director and President, replacing Nobuta Masato who will step down. The transition is subject to approval at the scheduled general shareholders meeting on March 25, 2026.

NOVARESE,Inc.

9160 · 株式会社ノバレーゼ

The company recognized a deferred tax asset of approximately 1.497 billion yen in individual financial statements for the fiscal year ended December 2025, and recorded an impairment loss of 186 million yen in consolidated statements related to certain fixed assets in the bridal business segment due to identified impairment indicators.

GAKKEN HOLDINGS CO., LTD.

9470 · 株式会社学研ホールディングス

Gakken Holdings resolved to dispose of treasury shares to the Gakken Employee Shareholding Association as part of a restricted stock incentive program for employees. A maximum of 273,473 shares will be allocated at ¥1,097 per share (up to ¥300 million total) with a 36-month restriction period from June 2, 2026 to June 1, 2029.

NOVARESE,Inc.

9160 · 株式会社ノバレーゼ

The company announces the replacement of its audit firm. Limited Liability Auditor Azsa will retire as the accounting auditor on March 19, 2026, upon completion of the company's 10th regular shareholders meeting. Limited Liability Audit Corporation Deloitte Touche Tohmatsu has been selected as the new accounting auditor to align with the parent company TKP's auditor and improve audit effectiveness and governance efficiency.

GMO Internet Inc.

4784 · GMOアドパートナーズ株式会社

GMO Internet Group has recognized impairment losses on goodwill and fixed assets of three subsidiaries (GMO-Z.com Mongolia LLC, GMO-Z.com Cryptonomics (Thailand) Co., Ltd., and GMO-Z.com Philippines, Inc.) totaling 242 million yen in consolidated results for fiscal year ending December 2025. The impairment resulted from a reassessment of business positioning and roles as part of portfolio restructuring, with more conservative assumptions applied to future outlooks.

Fukui Computer Holdings,Inc.

9790 · 福井コンピュータホールディングス株式会社

Fukui Computer Holdings announced a planned merger with Daitech Holdings, effective April 1, 2027, with Fukui Computer as the surviving company. The merger aims to create synergies in CAD systems, cloud services, and IT infrastructure by combining complementary business domains in the construction industry. The share exchange ratio is 1 Fukui Computer share for every 0.68 Daitech Holdings shares.

JMC CORPORATION

5704 · 株式会社JMC

The company will replace its accounting auditor from Azusa Audit Corporation (有限責任 あずさ監査法人) to Ark Audit Corporation (アーク有限責任監査法人) effective March 27, 2026, following the expiration of the current auditor's term. The decision was made by the Audit & Supervisory Board on February 13, 2026, and will be subject to shareholder approval at the 34th Annual General Meeting of Shareholders scheduled for March 27, 2026. The replacement was made after comparative evaluation of audit firms based on professional expertise, independence, quality control systems, and appropriateness of audit fees relative to the company's business scale.

Photosynth inc.

4379 · 株式会社Photosynth

Photosynth Inc. resolved to issue 9,386 stock acquisition rights (warrants) to its directors and employees on February 13, 2026. The warrants have an issue price of 243 yen per warrant, with an exercise price of 412 yen per share, and are exercisable from April 1, 2027 to March 31, 2032, contingent upon meeting specified consolidated revenue targets over three fiscal years.

ELECOM CO.,LTD.

6750 · エレコム株式会社

The company acquired all shares of Nihon Antenna Co., Ltd. through a stock exchange on November 25, 2025, making it a consolidated subsidiary. The acquisition resulted in the recognition of negative goodwill (bargain purchase gain) of ¥7,648 million as an extraordinary gain in the Q3 FY2026 consolidated financial results.

TABIKOBO Co. Ltd.

6548 · 株式会社旅工房

The company received an insurance payout of 50 million yen from its Directors and Officers (D&O) liability insurance policy. The claim was filed for external consulting expenses incurred during a special investigation committee related to employment adjustment subsidies and emergency employment stabilization subsidies. The insurance proceeds were recorded as extraordinary profit in Q2 FY2026 financial statements.

GALA INCORPORATED

4777 · 株式会社ガーラ

The company recorded impairment losses on fixed assets of subsidiary Treeful Co., Ltd. due to declining operational capacity and uncertain capital recovery prospects. Additionally, the parent company recorded evaluation losses on affiliate company stocks and provisions for potential losses from affiliate business operations totaling 270,627 thousand yen on an individual basis.

Nihon M&A Center Holdings Inc.

2127 · 株式会社日本M&Aセンターホールディングス

The company has resolved to establish a new subsidiary, J-Capital Co., Ltd., as an intermediate holding company for its fund business operations effective April 1, 2026. The fund business rights and obligations will be transferred to the newly established company through a simplified share split, with J-Capital becoming a 100% subsidiary of the parent company. This reorganization aims to clarify decision-making authority, develop management talent, and maximize group enterprise value.

HAMAI INDUSTRIES LTD.

6497 · 株式会社ハマイ

The company is replacing its statutory auditor due to the delisting of the incumbent auditor from the Japan Public Accountants Association's list of auditors for listed companies. Touko Limited Liability Audit Corporation will replace Audit Corporation Mahoroba, effective March 24, 2026, at the 94th Annual Shareholders Meeting.

Living Platform, Ltd.

7091 · 株式会社リビングプラットフォーム

The company will receive dividend payments totaling 500 million yen from two consolidated subsidiaries, with the board resolution dated February 13, 2026, and expected receipt in March 2026. The dividend will be recorded as dividend income in the individual financial statements for the fiscal year ending March 2026, but will have no impact on consolidated earnings due to the subsidiary consolidation elimination.

Infomart Corporation

2492 · 株式会社インフォマート

The company entered into a capital and business alliance agreement with Dai-ichi Life Holdings on February 13, 2026, involving a third-party allocation of new shares and disposal of treasury shares. Dai-ichi Life Holdings will acquire approximately 15.06% voting rights and obtain the right to nominate one director candidate, while agreeing to hold shares for 5 years and maintain the company's management autonomy through anti-dilution provisions.

AMUSE INC.

4301 · 株式会社アミューズ

Amuse Inc. has decided to implement changes to its executive and employee stock compensation programs through Board Incentive Plan (BIP) and Employee Stock Ownership Plan (ESOP) trusts for the three fiscal years ending March 31, 2026-2028. The company will dispose of 588,880 treasury shares (270,000 newly allocated plus existing trust holdings) valued at approximately ¥1.22 billion to these trusts at ¥2,079 per share.

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4425 · Kudan株式会社

The company recognized foreign exchange gains of ¥327.095 billion and German government R&D subsidies of ¥9.89 billion as non-operating revenue in Q3 FY2025, resulting from currency fluctuations in GBP/EUR/USD and research development activities. These material gains significantly impact the consolidated financial results for the third quarter ended March 2025.

Headwaters Co., Ltd.

4011 · 株式会社ヘッドウォータース

The company decided on February 14, 2026 to replace its external auditor. Koa Audit Corporation (興亜監査法人) will be replaced by Taiyo Limited Liability Audit Corporation (太陽有限責任監査法人) effective March 27, 2026, following the expiration of the current auditor's term. The change was approved by the Audit Committee, with the final decision pending shareholder approval at the 21st Annual General Meeting on March 27, 2026.

Synspective Inc.

290A · 株式会社Synspective

Synspective resolved to issue two series of stock options (warrants) to its directors and employees. The 6th series comprises 702 warrants for 70,200 common shares allocated to 215 employees at no issuance price, exercisable from March 6, 2026 to March 5, 2031 at ¥1 per share. The 7th series comprises 4,038 warrants for 403,800 common shares allocated to 5 directors and 1 employee at ¥100 per warrant, exercisable from April 1, 2028 to March 5, 2032 at ¥1,252 per share, with exercise contingent on revenue targets of ¥27-33 billion.

ICHIKAWA CO., LTD.

3513 · イチカワ株式会社

Ichikawa Corporation announced the acquisition of 71,000 treasury shares through a Board Benefit Trust (BBT) mechanism to fund performance-linked stock compensation for directors and executive officers. The trust will acquire shares at ¥3,680 per share (total ¥261.28 million) to align executive compensation with medium to long-term business performance and corporate value enhancement.

ESCRIT INC.

2196 · 株式会社エスクリ

The company is being absorbed as the disappearing company in a merger with Novarese Co., Ltd., with an effective date of April 1, 2026. As a result, the company recorded merger-related costs of 115 million yen and impairment losses of 279 million yen as special losses, along with a 257 million yen deferred tax asset adjustment.

AI CROSS Inc.

4476 · AI CROSS株式会社

The company announced a change in its external auditor effective March 26, 2026, at the conclusion of the 11th annual shareholder meeting. Tōyō Audit Corporation will be replaced by Taiyo Limited Liability Audit Corporation as the company's accounting auditor, following a comprehensive evaluation of audit responsiveness and cost efficiency relative to the company's business scale.

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5571 · エキサイトホールディングス株式会社

The company's board of directors approved an absorption merger between its subsidiary Excite Corporation (surviving company) and iXIT Corporation (disappearing company) effective April 1, 2026. As a result of this merger, iXIT Corporation will be dissolved and cease to be a specified subsidiary of the company.

Ferrotec Corporation

6890 · 株式会社フェローテックホールディングス

Fellowtech Corporation's board of directors (February 12, 2026) approved the issuance of 21,332 restricted stock units to directors and employees of the company's overseas subsidiaries under its post-grant equity compensation plan. The shares will be issued at ¥6,100 per share (based on February 10, 2026 closing price) via in-kind contribution method, with total estimated value of approximately ¥130.1 million.

TECHNOLOGIES, Inc.

5248 · 株式会社テクノロジーズ

The company will receive a dividend of 142 million yen from its consolidated subsidiary, Eco Kaku Co., Ltd. on February 19, 2026. This dividend will be recorded as non-operating revenue in the individual financial statements for the fiscal year ending January 2027, with no impact on consolidated results.

Kirin Holdings Company, Limited

2503 · キリンホールディングス株式会社

Kirin Holdings will implement an employee stock ownership plan (ESOP) trust program targeting approximately 140 senior management employees across the company and subsidiaries. The program will distribute 540,900 shares (or equivalent cash) over a three-year period from fiscal year 2026 through 2028, with share allocations based on achievement of key management performance indicators in the medium-term business plan. The trust will be managed by Mitsubishi UFJ Trust Bank as trustee and Japan Mastertrust Bank as co-trustee.

&Do Holdings Co.,Ltd.

3457 · 株式会社And Doホールディングス

The company executed an absorption spin-off of the remodeling business operated by subsidiary House Do Japan to subsidiary DO, and subsequently sold 100% of the shares of the remodeled entity to Shin Denki Co., Ltd. for 1.5 billion yen on February 5, 2026. The transaction is expected to generate a one-time gain on sale of related company shares to be recognized as extraordinary profit in the fiscal year ending June 2026.

SEGA SAMMY HOLDINGS INC.

6460 · セガサミーホールディングス株式会社

The company recognized a significant impairment loss of 31.3 billion yen on goodwill and other intangible assets related to Rovio Entertainment Ltd, acquired in September 2023. The impairment was triggered by deteriorating business performance and changing market conditions in the global mobile game sector, which prevented Rovio from achieving initially projected financial targets.

Meiho Holdings,Inc.

7369 · 株式会社メイホーホールディングス

The company has decided to acquire all shares of Amano Construction Co., Ltd., a civil engineering contractor based in Gifu Prefecture, through a board resolution on February 13, 2026. The acquisition is valued at approximately 332.96 million yen (including advisory fees) and is expected to close on March 2, 2026, to expand the company's business platform in the Tokai region and support regional SMEs.

OKAYA ELECTRIC INDUSTRIES CO.,LTD.

6926 · 岡谷電機産業株式会社

The company sold a portion of its investment securities (one listed equity security) on February 6, 2026, to reduce policy holdings and improve capital efficiency in accordance with the Corporate Governance Code. This transaction resulted in an investment securities gain of 178 million yen to be recorded as extraordinary profit in the fiscal year ending March 2026.

Remixpoint,inc.

3825 · 株式会社リミックスポイント

The company conducted a fair value revaluation of its business-use cryptocurrency assets held as of December 31, 2025, resulting in a decrease in reported sales. This revaluation for the third quarter cumulative period of fiscal year ending March 2026 resulted in a revenue reduction of 1,017 million yen on both consolidated and non-consolidated bases.