Takara Holdings Inc. (2531) said on Oct. 5 it will sell a 70% stake in wholly owned logistics unit Takara Butsuryu System Co. to Chuo Warehouse Co. (9319) for ¥5.985 billion and expects to book an estimated ¥3.625 billion extraordinary gain.
Takara Holdings' board approved the sale of 700,000 shares, or 70% of the unit's voting rights, and the two companies signed a share transfer agreement the same day. Takara Holdings' stake will fall to 300,000 shares, or 30%, from 1 million shares. The deal involves a change in the group's consolidated subsidiaries.
Takara Holdings said the sale is part of efforts to select and concentrate management resources under its Takara Group Medium-Term Management Plan 2030, announced May 13, 2026. Takara Butsuryu System, which focuses on transport and warehousing and operates a nationwide network, has posted steady sales and profit. However, volumes from group company Takara Shuzo Co. are expected to decline over the medium to long term due to Japan's demographic trends and alcohol consumption patterns. Driver and labor shortages, changes to logistics regulations and rising labor costs also call for further investment in facilities, labor-saving systems and personnel. The company concluded that a new shareholder with logistics as its core business would better support the unit's growth and job security.
| Takara Butsuryu System (FY to March 2026) | Amount |
|---|---|
| Net sales | ¥12.649 billion |
| Operating profit | ¥676 million |
| Net profit attributable to owners of parent | ¥869 million |
| Net assets | ¥2.55 billion |
Takara Holdings owns 164,350 Chuo Warehouse shares (0.86%), while Chuo Warehouse holds 634,000 Takara Holdings shares (0.32%).
Next steps: The share transfer is scheduled for April 1, 2027. Takara Holdings expects to book a gain on the sale of affiliate shares of about ¥3.625 billion as extraordinary income in its consolidated results for the fiscal year ending March 2028. The final sale price will be set after adjustments under the agreement, and the gain may change.
| 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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