JPMC (3276) will hold an extraordinary general meeting of shareholders on Nov. 27, 2026, to vote on a share consolidation that would complete its management buyout, with its stock scheduled to be delisted from the Tokyo Stock Exchange on Dec. 29, 2026.
The board resolved on Oct. 27 to convene the meeting at KDDI Hall in the KDDI Otemachi Building in Chiyoda-ku, Tokyo. The agenda comprises the share consolidation and a partial amendment to the articles of incorporation, including abolition of the share-unit provision. The process will cause the shares to meet the exchange's delisting criteria, after which they can no longer be traded on the TSE Prime Market.
Under the MBO announced on Aug. 3, 2026, and amended on Sept. 15, Amsterdam1 and Amsterdam2 ran a tender offer from Aug. 4 to Oct. 5. As of Oct. 13, each held 4,528,768 shares, or 27.05%. Muto Enterprise 2, the asset management company of CEO Hideaki Muto and the largest shareholder as of Dec. 31, 2025, did not tender and has agreed to sell all its shares to JPMC as treasury stock after the consolidation takes effect. Hikari Tsushin group entities also agreed not to tender, with 1,452,100 shares to be distributed in kind to HTIO and then repurchased by the company.
The board also resolved to cancel 992,448 treasury shares, or 5.60% of issued shares before the cancellation and all treasury stock held as of Oct. 14, 2026, leaving 16,733,152 shares issued. The cancellation is conditional on shareholder approval of the consolidation.
Next steps: the EGM at 10 a.m. on Nov. 27, 2026; designation as securities to be delisted from Nov. 27 to Dec. 28; delisting on Dec. 29; treasury share cancellation on Dec. 30; and the share consolidation taking effect on Jan. 4, 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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