TYO:8125

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Wakita & Co. to Absorb Wholly Owned Subsidiary Cordia in Simplified Merger

Wakita & Co. (TYO:8125) has resolved to pursue an absorption-type merger with its wholly owned consolidated subsidiary, Cordia, effective Jan. 1, 2027, according to a Tokyo bourse filing on Thursday.The merger aims to centralize real estate ownership within the group, as Cordia owns a portion of the land on which Wakita's hotel is located and both companies are involved in real estate leasing.The merger will be carried out as a simplified and short-form merger without shareholder approval since Cordia is wholly owned.As the surviving company, Wakita will issue no new shares or pay any merger consideration.

TYO:8125

Asia76d ago

Wakita & Co.'s Fiscal Q1 Attributable Profit Falls 5.5%

Wakita & Co.'s (TYO:8125) profit attributable to owners of the parent fell 5.5% to 1.10 billion yen in the three months ended May 31, compared with 1.16 billion yen a year ago.The construction machinery distributor reported earnings per share of 22.05 yen, down from 23.52 yen a year earlier.Net sales grew 6.5% to 24.62 billion yen from 23.10 billion yen in the year-ago period.For the full fiscal year ending Feb. 28, 2027, the company expects attributable profit of 3.60 billion yen, profit per share of 72.39 yen, and net sales of 100 billion yen.The company plans to pay a year-end dividend of 50 yen per share for the fiscal year.

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