Shareholders of Shinko Shoji Co. (8141) approved a 7,894,651-for-1 share consolidation on Oct. 9 that will cash out minority holders at ¥1,580 per share, with the stock to be delisted from the Tokyo Stock Exchange on Oct. 29, 2026.
All proposals at the extraordinary general meeting, including the share consolidation, abolition of the share-unit rule and amendments to the articles of incorporation, were approved as proposed. As a result, the shares meet the TSE's delisting criteria and are designated as securities to be delisted from Oct. 9 to Oct. 28, the last trading day.
The consolidation is part of a series of transactions to make tender offeror Kaga Electronics Co., Ltd. the sole shareholder and take Shinko Shoji private. Holdings of all shareholders other than Kaga Electronics will become fractions of less than one share. Shinko Shoji plans to sell the aggregated fractional shares to Kaga Electronics with court approval and distribute the proceeds. The price is to be set so that holders receive ¥1,580, the same as the tender offer price, multiplied by the number of shares recorded in the shareholder register as of Oct. 30, 2026, though the actual amount may differ if court approval is not obtained or rounding adjustments are needed. Kaga Electronics plans to fund the purchase with a loan from MUFG Bank.
| Item | Figure |
|---|---|
| Consolidation ratio | 7,894,651 shares into 1 |
| Shares outstanding before | 29,347,657 |
| Shares outstanding after | 3 |
| Authorized shares after | 12 |
The pre-consolidation count excludes 1,662,909 treasury shares slated for cancellation on Oct. 30. Conditional on the consolidation taking effect, the amended articles cut authorized shares to 12 and delete provisions including those on share buybacks and the 100-share trading unit.
Next steps: The consolidation and article amendments are scheduled to take effect on Nov. 2, 2026. Shinko Shoji plans to petition the court around mid-November, sell the fractional shares to Kaga Electronics around mid-December, and pay shareholders around late March 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 |
Summaries of public disclosures by Japanese listed companies. Not investment advice; accuracy not guaranteed. Figures and dates in the TDnet originals prevail.
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