Kanematsu Corporation (8020) said on Oct. 30 that subsidiary Kanematsu Electronics will sell its entire stake in Global Security Expert (GSX) through a GSX share buyback after a tender offer by Accenture, lifting profit attributable to owners of the parent for the fiscal year ending March 2027 by about ¥14.5 billion.
Kanematsu's board resolved on Oct. 27, 2026 to have consolidated subsidiary Kanematsu Electronics sign a non-tender agreement with Accenture (アクセンチュア株式会社), the tender offeror for GSX shares, and delegated the final terms to President Yoshiya Miyabe. Miyabe set the final terms on Oct. 30, and Kanematsu Electronics signed the agreement with Accenture the same day.
GSX is an equity-method affiliate of Kanematsu Electronics. Under the agreement, Kanematsu Electronics will not tender its GSX common shares into the offer. Instead, once the tender offer succeeds, it will respond to a share buyback to be conducted by GSX and transfer all of its GSX shares. The notice classifies the gain as share of profit of investments accounted for using the equity method.
| Item | Detail |
|---|---|
| Shares sold | All GSX common shares held |
| Timing | After tender offer succeeds (planned) |
| Impact on profit attributable to owners of parent | About ¥14.5 billion (estimate) |
| Fiscal year | Ending March 2027 |
Kanematsu said the group is working to raise corporate value by optimizing its business portfolio and improving capital efficiency. After reviewing the terms of the tender offer and the series of transactions planned after it, the company concluded that selling the GSX stake through the buyback would contribute to group corporate value.
Because the sale is contingent on the tender offer succeeding at the planned offer price, the gain is not included in Kanematsu's consolidated forecast for the fiscal year ending March 2027. The company said it will promptly announce any forecast revision required as a result of the sale.
| 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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