Future Corporation (4722) will hold an extraordinary shareholders' meeting on Nov. 30, 2026 to vote on a share consolidation aimed at taking the company private following a management buyout, with its shares set to be delisted from the Tokyo Stock Exchange on Dec. 23.
Keywest Network, the tender offeror, came to hold 73,452,702 shares, or 82.78%, as of Sept. 17, the settlement start date of a tender offer that ran from July 30 to Sept. 10. Yasufumi Kanemaru, who proposed the deal, on Sept. 11 placed all 5,558,700 shares that were not tendered into a trust with the offeror as trustee, which exercises the voting rights.
The meeting will vote on the share consolidation, a partial amendment to the articles of incorporation including abolition of the share-unit provision, and a capital reduction. The stock will be designated as a security to be delisted from Nov. 30 through Dec. 22.
The board also approved canceling 6,648,879 treasury shares, or 6.97% of issued shares before the cancellation, conditional on approval of the share consolidation. Issued shares will total 88,679,121 afterward.
Future also reported results for the January-September period:
| Item | Amount | YoY |
|---|---|---|
| Revenue | ¥58.4 billion | +5.7% |
| Operating profit | ¥11.2 billion | -4.2% |
| Net profit attributable to owners of parent | ¥7.8 billion | -1.1% |
Profit declined against a high base of initial license fees booked in the previous year from multiple financial institutions adopting its next-generation banking system; excluding those fees, revenue and profit rose year on year. The full-year forecast was unchanged at ¥80.6 billion in revenue and ¥17.5 billion in operating profit, with a year-end dividend forecast of zero yen.
The extraordinary meeting is set for 3 p.m. on Nov. 30. The shares are scheduled to be delisted on Dec. 23, the treasury shares canceled on Dec. 24, and the share consolidation to take effect on Dec. 25.
| 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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