Wakita (8125), a Tokyo Stock Exchange Prime-listed seller and renter of construction machinery, said on Sept. 24 its board approved an absorption-type merger of wholly owned subsidiary Korudia, effective Jan. 1, 2027, with no new shares, no capital increase and no cash consideration.
Korudia owns part of the land under Wakita's hotel and leases it to the parent. Wakita also holds rental office buildings and rental apartments through its real estate business. The merger is intended to consolidate real estate ownership within the group, the company said.
Wakita will be the surviving company and Korudia will be dissolved. The deal is a simplified merger for Wakita under Article 796, Paragraph 2 of Japan's Companies Act and a short-form merger for Korudia under Article 784, Paragraph 1, so neither side needs shareholder approval of the merger agreement. Wakita's trade name, head office, representative, business lines, capital and fiscal year-end will not change.
Korudia, a real estate leasing company with capital of ¥86 million and 65,000 shares outstanding, reported the following for the year ended December 2025 (non-consolidated):
| Item | Amount |
|---|---|
| Net sales | ¥26 million |
| Operating profit | ¥21 million |
| Net income | ¥17 million |
| Net assets | ¥105 million |
| Total assets | ¥108 million |
Wakita posted consolidated net sales of ¥93.2 billion and net income of ¥3.45 billion for the year ended February 2026, with total assets of ¥146.9 billion. It expects the impact on its consolidated results for the year ending February 2027 to be minor and said it will promptly disclose any further required matters.
Next steps: The merger agreement is scheduled to be signed on Oct. 19, 2026, and the merger is scheduled to take effect on Jan. 1, 2027.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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