Kyowa Dengyo Co., Ltd. (6853) said its board approved on Oct. 26, 2026 a merger absorbing three wholly owned subsidiaries, with the deal scheduled to take effect on Jan. 1, 2027.
The decision follows a basic agreement announced on July 27, 2026. Kyowa Dengyo signed the merger agreement on Oct. 26 with Yamagata Kyowa Dengyo, Kofu Kyowa Dengyo and Kyowa Service Center, all of which will be dissolved. Because the subsidiaries are wholly owned, no new shares will be issued and no merger cash will be paid. The deal is a simplified merger for Kyowa Dengyo under Article 796, Paragraph 2 of the Companies Act and a short-form merger for the subsidiaries under Article 784, Paragraph 1, so no shareholder approval will be sought.
Under the group's vertically integrated structure, the parent plans, develops, produces and sells products and services, the Yamagata and Kofu units handle production, and Kyowa Service Center provides repair, calibration and other after-sales services. The company said folding production and after-sales functions into the parent will help it respond quickly to a fast-changing market and growing orders, create synergies across the value chain, and improve management efficiency, capital efficiency and governance.
| Absorbed company (FY Dec. 2025, non-consolidated) | Net sales | Net income |
|---|---|---|
| Yamagata Kyowa Dengyo | ¥2,828 million | -¥30 million |
| Kofu Kyowa Dengyo | ¥2,010 million | ¥69 million |
| Kyowa Service Center | ¥737 million | ¥243 million |
Kyowa Dengyo reported consolidated net sales of ¥16.27 billion and net income attributable to owners of the parent of ¥1.03 billion for the year ended December 2025. It said the impact on consolidated results will be minor, and its name, head office, representative, business, capital and fiscal year-end will not change.
Next step: 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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