Owell Co., Ltd. (7670), a paint and coatings trader listed on the Tokyo Stock Exchange Standard Market, said its board on Oct. 14, 2026 approved an absorption-type merger of wholly owned subsidiary Meiho Shoji Co., Ltd., set to take effect on April 1, 2027, with no shares or cash to be allotted.
Owell acquired all shares of Meiho Shoji, a paint distributor based in Mito, Ibaraki Prefecture, at the end of October 2025 to expand its domestic paint sales business within its coating-related operations, in line with the M&A growth strategy of its "MAP24-26" medium-term management plan. The company said the merger aims to expand the value it offers Meiho Shoji's customers and to use management resources more efficiently.
Owell will be the surviving company and Meiho Shoji will be dissolved. As a simplified merger under Article 796, Paragraph 2 of the Companies Act, it does not require approval at a shareholders' meeting. Owell's name, address, representative, business, capital and fiscal year-end will remain unchanged.
| Item | Owell (FY to March 2026, consolidated) | Meiho Shoji (FY to Aug. 2025, non-consolidated) |
|---|---|---|
| Net sales | ¥68.27 billion | ¥401 million |
| Operating profit (loss) | ¥1.26 billion | (¥7 million) |
| Net profit (loss)* | ¥1.80 billion | (¥155 million) |
| Net assets | ¥22.82 billion | ¥364 million |
*Attributable to owners of the parent.
Owell said the impact of the merger on its consolidated results will be minor.
The merger agreement is scheduled to be signed on Oct. 15, 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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