Japan Stock IR Daily – September 24, 2026 (22 reports)

• iFreeETF TOPIX High Dividend 40 (1651) announced its financial results for the August 2026 fiscal period (February 11, 2026, to August 10, 2026).
• As of August 10, 2026, net assets totaled ¥94,433 million (a decrease of ¥18,269 million from the previous period), and the net asset value per unit was ¥3,232.31 (an increase of ¥137.23 from the previous period).
• During the period, creation units were 8,140 thousand units, redemption units were 15,339 thousand units, and outstanding units were 29,215 thousand units.
• The distribution per unit for the August 2026 fiscal period was ¥5 (per trading unit).
• Total operating revenue was ¥5,380,871,414, and net income for the period was ¥5,233,861,633.

The FY2026 August results for iFreeETF TOPIX High Dividend 40 show a decrease in net assets while the net asset value per unit increased compared to the previous period. This dynamic may suggest that the reduction in outstanding units influenced the per-unit value. Furthermore, redemptions significantly exceeded creations, indicating net outflows from the fund, which could be a key point for investors to monitor.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.

• iFreeETF China STAR50 (STAR50) (Code: 2628) released its interim financial results for the fiscal year ending February 2027 (period: February 11, 2026, to August 10, 2026) on September 24, 2026.
• Total net assets at the end of the interim period (as of August 10, 2026) were ¥1,390 million. This represents a decrease compared to ¥3,061 million at the end of the previous period (as of February 10, 2026).
• Net asset value per unit increased to ¥3,960.5 at the end of the interim period, up from ¥3,201.9 at the end of the previous period.
• The number of outstanding units was 351 thousand units at the end of the interim period, compared to 956 thousand units at the end of the previous period. 50 thousand units were newly issued, and 655 thousand units were redeemed.
• Total operating revenue was ¥471,323,766, comprising ¥179,972 in interest income, ¥398,601,776 in securities trading gains/losses, and ¥72,542,018 in foreign exchange gains/losses.

In this interim period, while total net assets decreased, the net asset value per unit increased. This divergence appears to be significantly influenced by a reduction in outstanding units. Furthermore, operating revenue was substantially boosted by securities trading gains and foreign exchange gains/losses, indicating that market conditions and currency fluctuations played a key role in the fund’s performance. Investors may find it worthwhile to monitor how these factors might influence future fund operations.

• Nextware Co., Ltd. announced on September 24, 2026, its decision to introduce a shareholder benefit program.
• Eligible shareholders are those holding 500 shares (5 units) or more, as recorded in the shareholder registry as of September 30, 2026.
• The shareholder benefits consist of two types: “Streaming Tickets” and “Theater Tickets.”
• “Streaming Tickets” grant access to online streams of OSK independent performances and Brooklyn Parlor Theater performances from January 1, 2027, to June 30, 2027, requiring no application process.
• “Theater Tickets” are for live performances by OSK independent performances and Brooklyn Parlor Theater performances, available on a first-come, first-served basis through the OSK ticket reservation system, with eligibility varying based on the number of shares held and facial recognition registration.

This announcement introduces a new shareholder benefit program, aiming to show appreciation to shareholders and enhance investment appeal. By offering tickets to OSK Nippon Revue Company performances, the company appears to be encouraging a deeper understanding of its group’s business activities. The requirement of holding 500 or more shares might influence the target shareholder demographic and their engagement with the benefit program.

• For the cumulative 2Q of FY2026, the travel business performed generally within expectations despite impacts from the Chinese government’s travel restrictions to Japan and the Middle East situation. The hotel business, despite the closure of T-Mark City Hotel Sapporo, secured profits exceeding expectations at its three existing hotels excluding Sapporo.
• The bus business underperformed due to intensified competition, leading to a year-on-year decrease in both revenue and profit for the cumulative 2Q.
• The full-year business and dividend forecasts remain unchanged, factoring in an anticipated increase in demand from autumn onwards.
• A full recovery of the Chinese market is not assumed for the current fiscal year and is not incorporated into the earnings forecast. A recovery in the Chinese market is considered a potential upside factor for performance.
• To increase inbound visitors from Europe, North America, and Oceania (OEA), the company plans to strengthen sales activities at overseas travel expos and with local travel agencies, expand API integration for its B2B travel product sales site “Gorilla,” and utilize a new system to efficiently capture FIT demand.
• The new system, pre-launched in May 2026, is not expected to make a significant profit contribution this fiscal year, with profitability anticipated from the next fiscal year onwards.
• Regarding the former T-Mark City Hotel Sapporo site, redevelopment as a hotel is being considered as a priority option, with discussions progressing with the parent company.

The company attributes its decline in revenue and profit, despite high overall inbound visitor numbers, to a combination of factors including the slowdown in the Chinese market, increased competition in the bus business, and lower hotel sales prices. The strategic focus on OEA markets and the introduction of a new system for operational efficiency may be key initiatives for diversifying revenue streams and achieving sustainable growth. The success of these efforts, alongside improvements in existing businesses, could be crucial for achieving full-year performance targets.

• Axis Co., Ltd. resolved at its Board of Directors meeting today (September 24, 2026) to acquire all shares of Work Prime Contract Co., Ltd., making it a subsidiary.
• Work Prime Contract’s business involves the introduction, setup, maintenance, and repair of IT equipment, with a capital of 15 million yen, and its representative is Ayako Yoshinari.
• The number of shares acquired is 300 (100.0% of voting rights), and the acquisition price for Work Prime Contract’s common shares is 300 million yen, with a total estimated cost of 322 million yen including advisory fees.
• The share transfer execution date is scheduled for October 1, 2026, which is expected to lead Axis to transition to consolidated financial statements starting from the fiscal year ending December 2026.
• Work Prime Contract’s performance over the past three fiscal years (March 2024 to March 2026) shows revenue ranging from 339 million yen to 396 million yen, and net income ranging from 14 million yen to 22 million yen.

This acquisition appears to be a strategic move by Axis to strengthen its network-related service business, aligning with its mid-term management goal of expanding into high-value-added areas. The integration of Work Prime Contract could enhance Axis’s customer base, expand its operational scope in IT infrastructure, and increase its pool of network and IT solution engineers. The specific impact on consolidated performance is currently under review, and future disclosures in this regard will be worth monitoring.

• Crestec Co., Ltd. announced a partial correction to its “Consolidated Financial Results for the Fiscal Year Ended June 30, 2026 (Japanese GAAP),” originally published on August 14, 2026.
• The reason for the correction was the discovery of errors in some disclosure contents during the preparation process for the Annual Securities Report.
• The correction includes the addition of “(net)” to the description of “Expenditure for acquisition of shares of subsidiaries resulting in change in scope of consolidation” on page 4 of the attachment, under “1. Overview of Business Results (2) Overview of Financial Position for the Current Period ② Cash Flow Status.”
• On page 6 of the attachment, under “3. Consolidated Financial Statements and Principal Notes (1) Consolidated Balance Sheet,” “Notes receivable” under current assets was changed from “¥126,712 thousand” to “¥10,536 thousand” and “Electronically recorded monetary claims” was changed from “—” to “¥116,175 thousand” for the previous consolidated fiscal year. For the current consolidated fiscal year, “Notes receivable” changed from “¥71,501 thousand” to “—” and “Electronically recorded monetary claims” was added as “¥71,501 thousand.”
• On page 12 of the attachment, under “3. Consolidated Financial Statements and Principal Notes (4) Consolidated Statements of Cash Flows,” “Expenditure for acquisition of shares of subsidiaries resulting in change in scope of consolidation” was corrected from “△¥165,861 thousand” to “△¥182,318 thousand,” and “Income from acquisition of shares of subsidiaries resulting in change in scope of consolidation” of “¥16,456 thousand” was newly added.
• Despite these corrections, the total “Cash flows from investing activities” remained unchanged at △¥297,763 thousand for the previous consolidated fiscal year and △¥743,801 thousand for the current consolidated fiscal year.

This correction by Crestec primarily involves reclassifications within the consolidated balance sheet and additional detail for subsidiary share acquisitions in the consolidated statement of cash flows, identified during the preparation of the Annual Securities Report. For investors, this ensures that the financial statements provide more accurate information, reflecting the company’s commitment to transparent disclosure. It is worth noting that the core performance figures for cash flows from investing activities remained unchanged, suggesting the revisions are largely descriptive rather than indicative of a change in underlying financial performance.

• NEXT FUNDS FTSE Japan ex-REITs High Income Cash Flow 50 Index ETF (Code: 518A) announced its earnings report for the fiscal period ended August 2026 (March 2, 2026, to August 15, 2026) on September 24, 2026.
• Total net assets for the period amounted to JPY 8,433 million.
• Primary invested assets are stocks, totaling JPY 8,382 million, representing 99.4% of total assets.
• The number of issued units at the end of the fiscal period was 4,060 thousand units, with a Net Asset Value per 100 units of JPY 207,680.
• The dividend payment per 100 units was JPY 500, with the payment commencing on September 18, 2026.

This earnings report provides insight into the operational status of the NEXT FUNDS FTSE Japan ex-REITs High Income Cash Flow 50 Index ETF. The significant proportion of stocks in net assets suggests the fund is maintaining its index-tracking portfolio composition. The announced dividend payment per 100 units may be a key consideration for investors seeking income from their holdings.

• G-Basis announced a partial correction to its “Consolidated Financial Results for the Fiscal Year Ended June 30, 2026 [Japanese GAAP]” on September 24, 2026.
• The reason for the correction is stated as calculation errors in parts of the FY2026 consolidated and non-consolidated performance, future outlook, consolidated balance sheet, consolidated statements of income and comprehensive income, and consolidated cash flow statements.
• The company explicitly stated that there is no impact on the overall consolidated financial results.
• The corrected content includes the “Diluted Earnings Per Share” for FY2026, which was changed from a numerical value to “-” for both consolidated and non-consolidated results.
• The adjusted EBITDA target for the final year (June 2030) of the Mid-term Management Plan 2030 was revised from 1,380 million yen to 1,348 million yen.
• Other corrections include the value of “Investment securities” on the consolidated balance sheet as of June 30, 2025, from “－” to “0”, a reordering of “Non-operating income” on the consolidated statements of income and comprehensive income, and specific adjustments in the consolidated cash flow statements.

This correction primarily addresses calculation errors in specific figures and reporting methodologies, with no stated impact on overall consolidated performance. However, the revision of the adjusted EBITDA target, a key KPI in the mid-term management plan, could influence market perceptions of the company’s future growth strategy. Investors may wish to monitor how these corrections are interpreted in relation to the company’s operational strategy and financial health moving forward.

• TOSHIN HOLDINGS CO., LTD. has announced its consolidated financial results for the period ended May 8, 2026.
• This consolidated fiscal period covers a very short duration, from May 1, 2026, to May 8, 2026 (8 days).
• Revenue for the period was ¥340 million, operating loss was ¥48 million, ordinary loss was ¥232 million, and net loss attributable to parent company shareholders was ¥236 million.
• Total assets stood at ¥20,966 million, net assets at ¥893 million, and the equity ratio was 3.9%.
• Due to the commencement of corporate reorganization proceedings by the Tokyo District Court on May 8, 2026, no dividend will be paid.

Toshin Holdings’ financial results for the May 8, 2026 period are presented for an unusual 8-day fiscal year, prompted by the company’s corporate reorganization proceedings. Investors should consider these figures within the context of this shortened period, which is not comparable to standard annual results. The progress of the corporate reorganization and future business restructuring plans are key areas for investors to monitor going forward.

• OOMITSU Co., Ltd. announced its consolidated financial results for the first quarter of the fiscal year ending May 2027 (June 1, 2026 – August 31, 2026).
• Net sales for the cumulative first quarter period reached ¥20,603 million, marking a 9.4% increase compared to the same period of the previous year.
• The company reported an operating loss of ¥3 million (compared to an operating profit of ¥42 million in the prior year), ordinary profit of ¥9 million (down 71.3% YoY), and net loss attributable to parent company shareholders of ¥9 million (compared to a profit of ¥4 million in the prior year).
• By segment, Wholesale Business sales were ¥14,236 million (up 14.8%) with an operating profit of ¥99 million (down 2.5%). Amica Business sales were ¥5,782 million (up 1.2%) with an operating profit of ¥145 million (down 26.3%). Marine Products Business sales were ¥624 million (down 15.2%) with an operating profit of ¥1 million (down 69.3%).
• There are no revisions to the consolidated financial forecasts or dividend forecasts for the fiscal year ending May 2027 from those most recently announced.

OOMITSU’s Q1 FY2027 results show an increase in net sales but a shift to operating and net losses. This could potentially be influenced by changes in gross profit margins or cost structures across its various business segments. The confirmation of no revisions to the full-year forecasts suggests that the company anticipates performance improvements in subsequent quarters, making it a point for investors to monitor.

• Septeni Holdings Co., Ltd. resolved on September 24, 2026, to acquire shares of Media House Holdings Co., Ltd. (MH Co.) and make it a consolidated subsidiary.
• The acquisition involves 954,900 shares, representing 100.0% of voting rights, with an estimated total acquisition cost of approximately ¥10,838 million, including ¥10,781 million for MH Co. common shares and ¥57 million for advisory fees.
• MH Co. operates in human resources recruitment support and web marketing, specializing in providing comprehensive solutions to small and medium-sized enterprises.
• Septeni Holdings aims to strengthen its group’s share in the performance-based recruitment advertising market, maximize proposal and purchasing power for customers, and establish a robust business foundation by acquiring MH Co.’s SME customer base and sales network.
• The scheduled share transfer date is November 4, 2026. The impact on Septeni Holdings’ consolidated performance for the fiscal year ending December 2026 is expected to be minor.

This acquisition appears to be a strategic move by Septeni Holdings to reinforce its HR marketing domain, aligning with its mid-term management plan focused on “deepening existing businesses” and “exploring new businesses.” By integrating MH Co.’s SME client base and sales capabilities, Septeni Holdings may solidify its position in the growing performance-based recruitment advertising market and generate synergies with its current customer segments. The impact on consolidated results for the fiscal year ending December 2027 will be a key area for investors to monitor.

• Oracle Japan announced its financial results for the first quarter of fiscal year 2027 (June 1, 2026, to August 31, 2026).
• Net sales for the quarter reached 74,861 million yen, an increase of 13.0% compared to the same period last year.
• Operating income was 25,918 million yen, marking a 22.7% increase year-on-year.
• Ordinary income stood at 26,689 million yen (+24.9% YoY), and quarterly net income was 18,245 million yen (+23.2% YoY).
• Sales, operating income, ordinary income, and quarterly net income all achieved record highs for a first quarter.
• For the full fiscal year 2027, the company forecasts net sales to increase by 6.0% to 10.0% year-on-year, and diluted earnings per share to be between 525.00 yen and 540.00 yen, with no revisions from previous forecasts.

Oracle Japan’s strong first-quarter performance, achieving record highs in both sales and profits, appears to be driven by robust IT investment demand and the company’s focus on cloud services and enterprise AI solutions. The emphasis on leveraging AI for customer innovation and business transformation could be a key factor in sustaining this growth trajectory. Furthermore, the expansion of sovereign cloud offerings, addressing geopolitical and economic security risks, may represent a significant strategic move for future market positioning.

• Adventure Inc. announced a partial correction to its “Consolidated Financial Results for the Fiscal Year Ended June 2026 [IFRS]” that was originally released on August 13, 2026, at 3:30 PM.
• The reason for the correction is that certain matters requiring revision were identified after the initial disclosure.
• The corrected sections include numerical data for “1. Consolidated Operating Results for the Fiscal Year Ended June 2026,” “(1) Consolidated Operating Results,” “(2) Consolidated Financial Position,” “(3) Consolidated Cash Flows,” and “2. Dividends” in the financial statement, as well as “Notes (1) Significant changes in the scope of consolidation during the period.”
• In consolidated operating results, revenues for FY2026 were stated as 25,634 million yen (previously: 25,634,193 thousand yen), operating profit as 1,100 million yen (previously: 1,100,296 thousand yen), and profit attributable to owners of the parent as 465 million yen (previously: 465,710 thousand yen), indicating a rounding of figures from thousands to millions of yen.
• The dividends section for FY2026 now newly states a year-end dividend of 15.00 yen, a total dividend of 15.00 yen, total dividends paid of 107 million yen, a dividend payout ratio of 23.7%, and a dividend on equity attributable to owners of the parent of 1.2%.

This correction primarily involves a change in the presentation of numerical data in the financial statement, specifically rounding from thousands to millions of yen, and the addition of certain information, notably regarding dividends. While the core figures for consolidated operating results do not show substantial changes, the inclusion of dividend information may be of particular interest to investors. The note on changes in the scope of consolidation also warrants attention for understanding the context of future business developments.

• Asuka Corporation has announced its consolidated financial results for the third quarter of the fiscal year ending November 2026 (December 1, 2025, to August 31, 2026).
• Consolidated cumulative results showed net sales of ¥35,061 million (up 2.3% year-on-year), operating profit of ¥1,757 million (up 20.4%), ordinary profit of ¥1,945 million (up 27.8%), and profit attributable to owners of parent of ¥1,373 million (up 31.5%).
• By segment, the Automotive Parts business recorded net sales of ¥27,654 million (up 3.2% year-on-year) and operating profit of ¥1,168 million (up 25.8%). The Robot System business reported net sales of ¥3,995 million (up 2.0%) and operating profit of ¥428 million (up 26.2%). The Motorsports business saw net sales of ¥1,214 million (up 21.3%) and operating profit of ¥107 million (up 265.3%). Conversely, the Control System business experienced a decrease in sales to ¥2,156 million (down 15.6%) and an operating loss of ¥42 million.
• Regarding the consolidated financial position, total assets at the end of the third consolidated quarter were ¥43,797 million (an increase of ¥3,411 million from the end of the previous consolidated fiscal year), and net assets were ¥16,427 million (an increase of ¥1,892 million). The equity ratio stood at 37.5% (compared to 36.0% at the end of the previous consolidated fiscal year).
• The full-year consolidated earnings forecast for the fiscal year ending November 2026 remains unchanged from the figures announced on January 13, 2026.

Asuka’s Q3 FY2026 results show an increase in both net sales and profits compared to the prior year, primarily driven by strong performance in the Automotive Parts business due to new model launches and growth in the Motorsports segment. However, the Control System business faced a decline in sales and an operating loss, which may indicate varying market conditions across its segments. The decision to maintain the full-year earnings forecast suggests the company considers the current progress to be aligned with its initial projections. This could be worth monitoring for any future updates on the outlook.

• B&P disclosed its Q&A session regarding the FY2026 October Q3 financial results on September 24, 2026.
• The cumulative Q3 performance achieved approximately 70% of the full-year forecast, supported by promotional demand related to the FIFA World Cup and other factors.
• The company anticipates no significant deviation from the full-year earnings forecast, with Q4 also expecting orders related to the Asian Games.
• The M&A of Shinwa Co., Ltd. is part of the “market share expansion,” “function expansion,” and “domain expansion” strategies, aiming to strengthen production capacity, proposal capabilities, and expand order opportunities in the Tokyo metropolitan area.
• The generative AI video content production business aims for performance contribution from FY2027 October and early profitability, utilizing existing personnel and customer bases.
• Regarding the spread of generative AI, the company views it as an opportunity to enhance content production efficiency and expand creative expression, while also addressing competitive environment changes and legal risks.

The detailed explanation regarding the Q3 progress provides crucial insights for investors to assess the likelihood of achieving full-year earnings forecasts. Furthermore, the discussion of new ventures, such as M&A and generative AI utilization, indicates the company’s stance on future growth strategies and revenue diversification. The company’s approach to generative AI, focusing on leveraging existing resources while minimizing initial investment, may suggest a balanced consideration of investment risk and growth opportunities.

• Geocode Co., Ltd. announced that it has decided to enter into a business alliance agreement with Lead Plus Inc. in the internet advertising sector, effective September 24, 2026.
• The purpose of this alliance is to improve operational efficiency and profitability for small-scale internet advertising projects.
• Geocode aims to provide high-quality and efficient advertising operation services for small-scale projects by leveraging Lead Plus’s technology, expertise, and operational framework.
• The alliance includes mutual customer introductions, collaborative promotional activities such as joint seminars, and exploration of new service/product development utilizing both companies’ knowledge.
• The company stated that the impact of this business alliance on Geocode’s consolidated performance for the fiscal year ending February 2027 is minor.

This business alliance can be seen as a strategic move to enhance Geocode’s capabilities in handling small-scale internet advertising projects within a growing market, aiming to improve overall business productivity and profitability. While it has the potential to strengthen Geocode’s Web Marketing business competitiveness, the specific synergy effects and market impact from this partnership may warrant close monitoring of future developments and financial performance.

• Tanaka Shoji announced on September 24, 2026, that its Board of Directors resolved to revise the interim dividend forecast for the record date of September 30, 2026.
• The interim dividend forecast for the fiscal year ending March 2027 has been revised upwards from ¥10.00 per share (announced on May 12, 2026) to ¥17.00 per share.
• Consequently, the full-year dividend forecast per share is expected to be ¥38.00, revised from the previous forecast of ¥31.00.
• The reason for the dividend forecast revision is stated as a comprehensive consideration of business performance forecasts, management environment, internal reserves, and capital policy.
• The actual interim dividend for the previous fiscal year (ended March 2026) was ¥10.00 per share, with a year-end dividend of ¥21.00 per share, totaling ¥31.00 per share.

Tanaka Shoji’s revision of its interim dividend forecast suggests a commitment to shareholder returns, which is often viewed favorably by investors. This decision may indicate a positive outlook on the company’s performance and financial health. The increase in the annual dividend forecast could be a factor for investors to consider in their future investment decisions.

• G-GMO Commerce announced a revision (increase) to its dividend forecast for the fiscal year ending December 2026.
• The year-end dividend forecast has been revised from ¥50.56 per share to ¥52.12 per share, an increase of ¥1.56.
• The total annual dividend will also be ¥52.12 per share, up from the previous forecast of ¥50.56.
• The revision is due to an upward revision of the consolidated earnings forecast for the fiscal year ending December 2026, as announced in “Notice of Acquisition of Shares (Subsidiary) of GMO NIKKO and GMO Insight for the Construction of an AI-Era Marketing Platform” and “Notice of Revision of Consolidated Earnings Forecast for the Fiscal Year Ending December 2026.”
• The company’s dividend policy, which is “a consolidated dividend payout ratio of 65% or a consolidated dividend on equity (DOE) of 8% or higher, whichever is greater,” remains unchanged.

This dividend increase aligns with the upward revision of the company’s consolidated earnings forecast, reflecting a direct correlation between operational performance and shareholder returns. The steadfast adherence to their stated dividend policy, without alteration to the core criteria, may suggest a consistent and transparent approach to shareholder distribution. Investors might view this as an indication of the company’s commitment to returning profits through a predefined framework.

• Meito Co., Ltd. announced a 1-for-2 stock split of its common shares, with the record date set for December 31, 2026, and the effective date for January 1, 2027.
• Concurrently with the stock split, the company will amend Article 6 of its Articles of Incorporation to increase the total number of authorized shares from 50 million to 100 million, effective January 1, 2027.
• The maximum number of shares that can be acquired under the self-share acquisition program has been changed from 800,000 shares to 1,600,000 shares.
• The year-end dividend forecast for the fiscal year ending March 2027 has been revised from ¥40.00 per share to ¥20.00 per share (equivalent to ¥40.00 before the stock split). The second quarter-end dividend remains ¥40.00.
• The shareholder benefit program has also been partially revised, modifying the gift criteria and content for shareholders on record as of September 30 and March 31. A new long-term holding benefit (for shareholders holding shares continuously for 2 years or more) has been established, and a special one-time gift is planned.

Meito’s announcement appears to aim at lowering the investment unit through a stock split, potentially expanding its retail investor base and enhancing stock liquidity. The simultaneous adjustment of the self-share acquisition program, revision of dividend forecasts, and expansion of the shareholder benefit program suggest a continued commitment to strengthening shareholder returns. These measures could be interpreted by investors as a positive indication of the company’s efforts to enhance corporate value.

• Wakita Co., Ltd. announced that its Board of Directors resolved to absorb and merge its consolidated subsidiary, Cordia Co., Ltd.
• The merger will be an absorption-type merger, with Wakita as the surviving company and Cordia as the absorbed company.
• The purpose of this merger is to centralize real estate ownership within the Wakita Group.
• The merger schedule includes the Board of Directors’ resolution date for approval of the merger agreement on September 24, 2026, the merger agreement signing date on October 19, 2026 (planned), and the effective date of the merger on January 1, 2027 (planned).
• As Cordia is a wholly-owned subsidiary, this is a simplified and short-form merger, meaning no new shares will be issued, no capital will be increased, and no merger consideration will be paid.

This merger, involving a wholly-owned subsidiary, aims to streamline real estate ownership within the Wakita Group. The use of simplified and short-form merger procedures suggests a potentially swift execution process. While the company indicates a minor impact on its consolidated performance for the fiscal year ending February 2027, the long-term implications of real estate business efficiency could be a point of interest for investors.

• Keisei Electric Railway Co., Ltd. announced on September 24, 2026, its decision to acquire all shares of Chiba Nisseki Co., Ltd., making it a wholly-owned subsidiary.
• Chiba Nisseki, established in 1927, operates in petroleum product sales, gasoline station (SS) management, and automotive maintenance services.
• The acquisition’s rationale includes ensuring stable fuel supply within the Keisei Group, strengthening services addressing local living needs as part of the “D2 Plan” medium-term management plan, and synergy with existing group companies in automotive maintenance.
• Keisei will acquire 58,899 shares, resulting in a 100.0% voting rights ownership in Chiba Nisseki.
• The share transfer execution date is scheduled for October 1, 2026.

This acquisition can be viewed as a strategic move by Keisei Electric Railway to stabilize its fuel supply and bolster its local lifestyle service businesses. It aligns with the company’s “D2 Plan,” suggesting an intent to diversify its business portfolio and enhance resilience against external environmental changes. Investors may monitor how Chiba Nisseki’s operations integrate into the Keisei Group and contribute to its overall performance going forward.

• G-GMOTE-HD has decided to merge its wholly-owned subsidiaries, GMO TECH Inc. (surviving company) and GMO Design One Inc. (disappearing company), effective January 1, 2027 (planned).
• The merger was resolved at the Board of Directors meeting held on September 24, 2026.
• The purpose of this merger is stated as deepening business collaboration, expediting decision-making, and improving management efficiency after the initial business integration.
• This merger is expected to contribute to achieving the targets outlined in the mid-term management plan, which include consolidated net sales of 16.0 billion yen and consolidated operating income of 2.0 billion yen for the fiscal year ending December 2028.
• The impact of this merger on the fiscal year ending December 2026 is expected to be minor, with the outlook for the fiscal year ending December 2027 to be disclosed in February 2027 during the announcement of the December 2026 financial results.

This merger represents an internal reorganization within the G-GMOTE-HD consolidated group, aiming for improved management efficiency and enhanced competitiveness. As it involves wholly-owned subsidiaries, no new shares will be issued, nor will there be an allocation of other assets. Investors may consider monitoring the potential for synergistic effects as a result of this initiative, which is presented as a step towards achieving the company’s mid-term management plan objectives.