Satudora Holdings (3544) shareholders approved a 2,487,400-for-1 reverse stock split that will take the drugstore operator private, with its shares set to be delisted on Nov. 25, 2026 and minority holders expected to receive ¥1,260 per share.
Both proposals at the Nov. 6 extraordinary shareholders' meeting, the share consolidation and a partial amendment to the articles of incorporation, were approved as submitted. Holdings of all shareholders other than tender offeror Tera Co. and Tommy Corporation will become fractions of less than one share, as part of a series of transactions to leave those two as the only shareholders.
The stock was designated for delisting from Nov. 6, with the last trading day on Nov. 24. It will be removed from the Tokyo Stock Exchange Standard Market and the Sapporo Securities Exchange main market on Nov. 25.
| Item | Figure |
|---|---|
| Shares outstanding before | 13,780,262 |
| Shares outstanding after | 5 |
| Authorized shares after | 20 |
The pre-split figure assumes the cancellation of 456,302 treasury shares on Nov. 26. Fractional shares will be sold to Tera with court approval at a price designed to pay holders ¥1,260 per share, equal to the price in Tera's tender offer that ran from June 22 to Aug. 3, 2026. The actual amount may differ if court approval is not obtained or rounding adjustments are needed. Tera plans to fund the purchase with loans from Aozora Bank and an investment from its parent, Luna Co.
The amended articles, which cut authorized shares to 20 and abolish the 100-share trading unit, take effect on Nov. 27, conditional on the consolidation.
Next steps: the consolidation takes effect Nov. 27. The company plans to seek court approval in mid- or late December 2026, sell the fractional shares in early or mid-January 2027, and distribute proceeds around early March 2027 to holders of record as of Nov. 26.
| Hob Co., Ltd. | |
| Offer price | ¥1,140 per share |
| Shobunsha Holdings | |
| Offer price | ¥752 per share |
| Charm Care Corporation | |
| Tender offer price | ¥1,970 per share |
| GEOSTR Corporation | |
| H1 net profit | ¥951 million (up 118.9%) |
| Dai Nippon Toryo Co., Ltd. | |
| H1 net profit attributable to owners | ¥3.43 billion (up 144.2%) |
| Shinto Paint Co., Ltd. | |
| Share exchange effective date | Feb. 25, 2027 (scheduled) |
| Up Garage Group | |
| Maximum shares to be purchased | 880,000 shares (11.09%) |
| Nakku | |
| H1 net income | loss of ¥62 million |
| M&A / TOB | 23 |
| Guidance | 83 |
| Buybacks | 28 |
| Dividends | 22 |
| Capital | 11 |
| Earnings | 275 |
| People | 2 |
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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