Namura Zosensho (7014) said on Sept. 30, 2026 its board approved absorbing wholly owned subsidiary Imari Tekko Center, which unloads, stores and processes shipbuilding steel, in a merger scheduled to take effect April 1, 2027, with no shares or other assets allotted.
Imari Tekko Center has served as the steel center for Namura's core newbuilding business, unloading, sorting, storing and processing shipbuilding steel and supplying it to Namura's plants. The company said further expanding the newbuilding business and strengthening its competitiveness requires integrated operation of steel unloading, storage, processing and quality assurance. Combining the two organizations is intended to speed decision-making, optimize the allocation of management resources, secure and develop personnel and make production processes more efficient.
Namura will be the surviving company and Imari Tekko Center will be dissolved. The deal qualifies as a simplified merger for Namura and a short-form merger for the subsidiary, so neither company will hold a shareholders' meeting to approve the merger agreement. Because the target is wholly owned, no shares or other assets will be allotted. Namura's name, address, representative, business, capital and fiscal year-end will not change.
Imari Tekko Center, based in Imari, Saga Prefecture, was established on Feb. 8, 1973 and has capital of ¥200 million. Results for the fiscal year ended March 2026 (¥ million):
| Item | Namura (consolidated) | Imari Tekko Center (non-consolidated) |
|---|---|---|
| Net sales | 159,035 | 569 |
| Operating profit | 28,085 | 34 |
| Net profit | 21,590 | 29 |
| Total assets | 266,148 | 1,283 |
| Net assets | 137,441 | 574 |
Namura said the impact on its consolidated results will be minor.
Next steps: the merger agreement is dated Oct. 1, 2026, and the merger is scheduled to take effect on April 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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