📋 Material Events 1086

kuribayashi steamship co.,ltd.

9171 · 栗林商船株式会社

Kurin Shosen Co., Ltd. (parent company) and Sanriku Transport Co., Ltd. (subsidiary) resolved on January 20, 2026 to execute a stock exchange agreement whereby Kurin Shosen becomes the complete parent company and Sanriku Transport becomes the complete subsidiary. The transaction is scheduled to become effective on April 1, 2026, with an exchange ratio of 4.38 Kurin Shosen shares per 1 Sanriku Transport share.

FRIENDLY CORPORATION

8209 · 株式会社フレンドリー

Joyful Co., Ltd. (parent company owning 52.46% of shares) is executing a stock consolidation of Friendly Co., Ltd. to take the company private. The consolidation will result in fractional shares held by minority shareholders being sold to Joyful, with minority shareholders receiving 315 yen per reference share as compensation (subject to court approval).

譬ェ蠑丈シ夂、セ繧オ繝シ繝舌�シ繝ッ繝シ繧ッ繧ケ

4434 · 株式会社サーバーワークス

BS Asset Management Co., Ltd. increased its voting rights stake in the company from 10.00% (7,700 voting rights) to 17.07% (12,700 voting rights) as of January 19, 2026. This material change in major shareholder composition is being reported in accordance with the Financial Instruments and Exchange Act Article 24-5(4) and related cabinet office regulations.

The Japan Steel Works, Ltd.

5631 · 株式会社日本製鋼所

Japan Steel Works Ltd. (日本製鋼所) will absorb its wholly-owned subsidiary Japan Steel Works M&E Co., Ltd. through an absorption merger effective April 1, 2026. The merger aims to streamline operations, accelerate synergies in defense-related products, advance GaN crystal technology development, and strengthen corporate governance by consolidating the materials and engineering business into the parent company.

Aplix Corporation

3727 · 株式会社アプリックス

Applix Corporation announced a stock exchange transaction on January 16, 2026 whereby it will become the complete parent company and acquire all issued shares of GlobalCast Corporation (based in Nagoya, Aichi). The transaction is scheduled to be effective on April 1, 2026, following shareholder approval at both companies' general meetings. Post-acquisition, Applix plans to transition to a holding company structure to enhance synergies and accelerate business growth.

Next Generation Technology Group, Inc.

319A · 株式会社技術承継機構

The company's consolidated subsidiary NGTG17 has decided to acquire all issued shares of Horikoshi Seiki Co., Ltd., a precision cutting machine manufacturer, for 2,612 million yen as of January 16, 2026. The acquisition is intended to preserve and transmit Horikoshi Seiki's cutting technology to the next generation as part of the company's continuous acquisition business model in the manufacturing sector.

SAINT-CARE HOLDING CORPORATION

2374 · セントケア・ホールディング株式会社

The company's board of directors resolved on January 16, 2026 to hold an extraordinary shareholders' meeting on February 18, 2026 to approve a stock consolidation (5,905,149 shares into 1 share) as part of a management buyout (MBO) transaction. Color Inc. has already acquired 40.74% of the company's shares through a tender offer completed on December 29, 2025 at 1,070 yen per share, with plans to acquire all remaining shares excluding certain non-tendering shareholders.

HINO MORTORS,LTD.

7205 · 日野自動車株式会社

The company has decided to sell its entire stake in HOTAI MOTOR CO., LTD. to Toyota Motor Corporation. The sale is expected to generate a special gain of approximately 30.1 billion yen in the fiscal year ending March 2026, with the transaction constituting part of a broader management integration initiative involving Mitsubishi Fuso Truck and Bus.

TORICO Co.,Ltd.

7138 · 株式会社TORICO

Teitz Co., Ltd. (株式会社テイツー), a major shareholder of the reporting company, has reduced its voting rights stake from 12.06% (15,000 voting rights) to 5.59% (8,242 voting rights) as of January 13, 2026. This divestiture results in Teitz Co., Ltd. ceasing to be classified as a major shareholder following the company's third-party capital allocation and capital-business alliance agreement announced on December 17, 2025.

Barcos Co., Ltd.

7790 · 株式会社バルコス

The company's board of directors resolved on January 15, 2026 to acquire all issued shares of Tōyō Bussan Co., Ltd. (excluding shares held by its parent company and treasury shares) to make it a wholly-owned subsidiary. The company will also acquire all shares of T.H. Management Co., Ltd., the asset management and parent company of Tōyō Bussan, to achieve 100% subsidiary status. This acquisition is part of the company's medium-term management plan (2026-2028) targeting growth through M&A to reach a 30 billion yen enterprise.

DAICEL CORPORATION

4202 · 株式会社ダイセル

Daicel Corporation resolved to integrate all business operations of its wholly-owned subsidiary Polyplastics Co., Ltd. through an absorption merger effective April 1, 2026. The merger aims to strengthen engineering plastics business, enhance synergies through knowledge sharing, and optimize corporate functions to maximize enterprise value.

COPRO-HOLDINGS. Co., Ltd.

7059 · 株式会社コプロ・ホールディングス

The company acquired all shares of Torait K.K., which wholly owns Torait Engineering K.K., a staffing and personnel placement service provider for the construction industry. The acquisition aims to strengthen the company's position in the construction technical staffing market by combining operational expertise, customer bases, and digital marketing capabilities to achieve industry-leading status.

FUJITEC CO., LTD.

6406 · フジテック株式会社

The company's board has decided to convene an extraordinary shareholders' meeting on February 20, 2026, to approve a stock consolidation as part of a going-private transaction. Bospolder 1 Corporation (backed by EQT AB) has launched a tender offer and currently holds 79.31% of shares (61,919,990 shares) following its tender offer completion on December 22, 2025. The company established a special committee of independent outside directors to ensure fair process and conducted a competitive bidding process involving multiple investment candidates.

譬ェ蠑丈シ夂、セ�シウ�シィ�シゥ�シヲ�シエ

3697 · 株式会社SHIFT

Stride Digital Group K.K., a consolidated subsidiary, resolved to conduct an absorption merger on January 14, 2026, whereby Simtech K.K. will be the surviving company and Airitech K.K. and Madeal K.K. will be the dissolving companies. Both Airitech and Madeal are specified subsidiaries of the reporting company, triggering disclosure requirements under the Financial Instruments and Exchange Act.

譬ェ蠑丈シ夂、セ�シウ�シィ�シゥ�シヲ�シエ

3697 · 株式会社SHIFT

SHIFT's consolidated subsidiary, SHIFT Growth Capital, has decided to acquire 100% of the outstanding shares of Nissay Com for approximately 20.486 billion yen, scheduled to close on April 1, 2026. The acquisition aims to strengthen SHIFT's presence in the health insurance sector and customer base outside the Tokyo metropolitan area, while leveraging synergies between Nissay Com's development capabilities and SHIFT's testing and quality assurance services.

Japan Asia Investment Company, Limited

8518 · 日本アジア投資株式会社

The company acquired additional ordinary shares in KIC Holdings Co., Ltd., resulting in the reclassification of four entities (KIC Holdings, KIC Asset Management, KIC Noda Special Purpose Company, and KIC Kasuga 2 Special Purpose Company) as specified subsidiaries. The acquisition was completed on January 14, 2026, with the parent company's ownership stake in KIC Holdings increasing from 16.69% to 60.00%.

PostPrime Inc.

198A · PostPrime株式会社

The company entered into a capital and business alliance agreement with Cybridge LLC on January 14, 2026. The agreement grants Cybridge the right to nominate director candidates up to a majority of the board and requires the company to obtain Cybridge's prior written consent before dismissing Cybridge-nominated director Kei Daniel Takahashi, subject to fiduciary duties.

PostPrime Inc.

198A · PostPrime株式会社

The company's major shareholder DAN TAKAHASHI LLC has agreed to transfer its ordinary shares to Cyberbridges LLC (サイブリッジ合同会社) in an off-market transaction, effective January 19-21, 2026. This transfer results in a change of the principal shareholder, with Cyberbridges LLC acquiring 2,029,500 shares representing 19.80% of total voting rights.

Inforich, Inc.

9338 · 株式会社INFORICH

The company decided to acquire 49% of the issued shares of CHARGESPOT (THAILAND) COMPANY LIMITED on January 7, 2026, converting it into a consolidated subsidiary. The acquisition aims to strengthen strategic investments, improve operational efficiency, and accelerate market expansion in Thailand, a key ASEAN hub for the mobile battery sharing service.

INEST,Inc.

7111 · INEST株式会社

The company's Board of Directors resolved on January 13, 2026 to execute an absorption merger whereby Renxa Co., Ltd. (a consolidated subsidiary/grandchild company) will be the surviving entity and FLC Premium Co., Ltd. (the specified subsidiary) will be the dissolving entity, effective March 1, 2026. Prior to the merger, the company will transfer all shares of FLC Premium Co., Ltd. to INT Co., Ltd. (another consolidated subsidiary) on January 16, 2026, making FLC Premium an indirect holding of the company at the time of merger execution.

譬ェ蠑丈シ夂、セ�ショ�ス擾シ趣シ�

3562 · 株式会社No.1

株式会社No.1 announced a planned absorptive merger of its wholly-owned subsidiary, No.1 Digital Solutions, scheduled for March 1, 2026. The merger aims to optimize management resources and improve operational efficiency within the No.1 Group through reorganization. As a simplified merger under the Companies Act, shareholder approval is not required for either the parent or subsidiary company.

YASUHARA CHEMICAL CO.,LTD.

4957 · ヤスハラケミカル株式会社

Yahoo Japan Corporation is conducting a management buyout to acquire all publicly held shares of the company and delist it from the Tokyo Stock Exchange Standard Market. The acquisition price was negotiated through multiple rounds from October 1-23, 2025, ultimately settling at 1,375 yen per share. A stock consolidation is planned for a shareholders' meeting scheduled for February 10, 2026 to facilitate the delisting.

TSURUHA HOLDINGS INC.

3391 · 株式会社ツルハホールディングス

The company acquired Welcia Holdings Inc. as a consolidated subsidiary through a stock exchange on December 1, 2025. This acquisition resulted in a gain of 10,583 million yen from step acquisition, which will be recorded as extraordinary profit in the consolidated financial statements for the fiscal year ending February 2026.

SUMITOMO DENSETSU CO.,LTD.

1949 · 住友電設株式会社

Daiwa House Industry Co., Ltd. has launched a tender offer to acquire all shares of the company (excluding treasury stock and non-tendered shares held by Sumitomo Electric Industries, the parent company) with the objective of making the company a wholly-owned subsidiary. The acquisition involves a stock consolidation to squeeze out minority shareholders, followed by treasury stock acquisition at a separately determined price.

AEON Co.,Ltd.

8267 · イオン株式会社

The filing company completed a tender offer for all ordinary shares of Tsuruhaholdinglings Co., Ltd. (ツルハホールディングス) during the period from December 3, 2025 to January 6, 2026. As a result, the company will acquire 50.11% voting rights on the settlement date of January 14, 2026, making the target company and its subsidiary Welcia Pharmaceutical Co., Ltd. (ウエルシア薬局株式会社) subsidiaries of the filing company. Welcia Pharmaceutical qualifies as a specified subsidiary due to its net assets exceeding 30% of the filing company's net assets.

AEON Co.,Ltd.

8267 · イオン株式会社

The company completed a tender offer for common shares of Tsuruhа Holdings Co., Ltd. (an equity-method affiliate) from December 3, 2025 to January 6, 2026. Following settlement on January 14, 2026, Tsuruhа Holdings will become a consolidated subsidiary, and the company expects to recognize a step acquisition gain as extraordinary income in the February 2026 fiscal year results.

ROHTO PHARMACEUTICAL CO.,LTD.

4527 · ロート製薬株式会社

The company's board of directors approved on January 7, 2026 the acquisition of ordinary and preferred shares of Thann Oryza Co., Ltd. through a subsidiary, resulting in the target becoming a subsidiary with 51% ownership. The acquisition is scheduled to be completed on March 31, 2026 and triggers mandatory disclosure as the target qualifies as a specified subsidiary.

TSURUHA HOLDINGS INC.

3391 · 株式会社ツルハホールディングス

Aeon Corporation completed a tender offer for Welcia Holdings' ordinary shares during the period from December 3, 2025 to January 6, 2026. Following the acquisition of 40,727,772 shares, Aeon's voting rights will exceed 50% of total shareholder voting rights, making it the new parent company of Welcia effective January 14, 2026.

Silver Egg Technology CO.,Ltd.

3961 · シルバーエッグ・テクノロジー株式会社

株式会社イルグルム (Ilgloom Inc.) completed a public tender offer for the company's ordinary shares and stock acquisition rights from November 17, 2025 to January 6, 2026. Following the acquisition of 1,864,500 shares, Ilgloom will become the parent company with 62.63% voting rights (18,645 votes) as of the settlement date of January 14, 2026.

YRGLM Inc.

3690 · 株式会社イルグルム

The filing company completed a public tender offer for all common shares and warrants of SilverEgg Technology Co., Ltd. from November 17, 2025 to January 6, 2026. As a result of the acquisition, SilverEgg Technology will become a specified subsidiary of the filing company with 62.63% voting rights as of January 14, 2026 (settlement date).

VECTOR INC.

6058 · 株式会社ベクトル

Shoji Nishie, the company's representative director, chairman and president CEO, has divested 13,105,745 shares (27.95% of total voting rights) to Freeway Co., Ltd., an asset management company controlled by Hiroshi Hashimoto (company advisor), making Freeway the new largest shareholder. The divestiture occurred through two off-market private transactions on December 23-24, 2025, totaling approximately 11.53 billion yen, with a buyback option for Nishie until July 31, 2026.

Fines, Inc.

5125 · 株式会社ファインズ

The company has decided to acquire all shares of Orpla Co., Ltd. and Nexil Co., Ltd. through a board resolution on December 26, 2025, making both companies wholly-owned subsidiaries. The acquisitions are part of the company's strategic expansion into direct talent acquisition and recruitment services to complement its existing DX support business. The combined acquisition value is approximately ¥1,096 million including advisory fees.

SANYU CONSTRUCTION CO.,LTD.

1841 · サンユー建設株式会社

Cabalo Kikaku Co., Ltd. successfully completed a public tender offer for ordinary shares from November 13 to December 25, 2025, acquiring 1,526,163 shares. As a result of the acquisition, Cabalo Kikaku will become the parent company and controlling shareholder of the target company with 49.86% voting rights as of the settlement date of January 6, 2026.

OSAKA GAS CO.,LTD.

9532 · 大阪瓦斯株式会社

The company's subsidiary Sabine Oil & Gas Corporation will be absorbed and merged into Sabine Energy Inc., another subsidiary of the company, effective January 1, 2026 (U.S. time). This merger will result in Sabine Oil & Gas Corporation ceasing to be a specified subsidiary of the company. The merger involves a natural gas development and investment company based in Houston, Texas with $800 million in capital.