Japan Pallet Rental Corporation completed the acquisition of remaining 98.74% stake in Nippon Pallet Pool Co., Ltd. from Nippon Express Holdings, Inc., Japan Freight Railway Company, Masanori Yoshida, Kyoko Suenaga, Yoshiaki Masuda and others.
Japan Pallet Rental Corporation proposed to acquire remaining 98.74% stake in Nippon Pallet Pool Co., Ltd. (TSE:4690) from Nippon Express Holdings, Inc. (TSE:9147), Japan Freight Railway Company, Masanori Yoshida, Kyoko Suenaga, Yoshiaki Masuda and others for ¥3.9 billion on January 30, 2026. A cash consideration valued at ¥2510 per share will be paid by Japan Pallet Rental Corporation. As part of consideration, an undisclosed value is paid towards common equity of Nippon Pallet Pool Co., Ltd. In connection with the Tender Offer, Japan Pallet Rental has entered into a Tender Offer Agreement dated with NIPPON EXPRESS HOLDINGS INC. ("NXHD"), Nippon Pallet Pool's major shareholder, pursuant to which NXHD will tender all of its 180,000 Target Company Shares (ownership ratio: 11.37%) in the Tender Offer. The Board of Directors' resolution was made on the assumption that the Offeror intends to make Nippon Pallet Pool a wholly-owned subsidiary of Japan Pallet Rental through the Tender Offer and subsequent procedures, and that Nippon Pallet Pool's shares are scheduled to be delisted. The Board of Directors of Nippon Pallet Pool Co., Ltd. formed a special committee for the transaction.
The transaction is subject to a minimum tender offer. The tender offer will begin on February 2, 2026 and will closed on March 17, 2026. The settlement date for the offer is on March 25, 2026.
Kitahama Partners acted as legal advisor for Japan Pallet Rental Corporation, Nippon Pallet Pool Co., Ltd and the Major Shareholders. MUFG Bank, Ltd. acted as financial advisor for Japan Pallet Rental Corporation, Nippon Pallet Pool Co., Ltd and the Major Shareholders.
Japan Pallet Rental Corporation completed the acquisition of remaining 98.74% stake in Nippon Pallet Pool Co., Ltd. (TSE:4690) from Nippon Express Holdings, Inc. (TSE:9147), Japan Freight Railway Company, Masanori Yoshida, Kyoko Suenaga, Yoshiaki Masuda and others on March 17, 2026. As per the transaction, Japan Pallet Rental Corporation acquired 89.39% stake in Nippon Pallet Pool Co., Ltd. and will acquired remaining shares via squeeze-out procedures.
Nippon Express Holdings Inc. specializes in freight transportation and logistics services. The group provides transport by land, air, rail and sea of products, materials, components, equipment, etc. on behalf of companies and organizations. At the same time, Nippon Express Holdings Inc. offers warehousing and supply chain management solutions. The group's activities are essentially organized around 3 areas:
- logistics services;
- cash and precious goods transportation services; and
- heavy equipment transportation services.
Net sales are distributed geographically as follows: Japan (59.2%), Asia and Oceania (18.3%), America (14.6%) and Europe (7.9%).
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Japan Pallet Rental Corporation completed the acquisition of remaining 98.74% stake in Nippon Pallet Pool Co., Ltd. from Nippon Express Holdings, Inc., Japan Freight Railway Company, Masanori Yoshida, Kyoko Suenaga, Yoshiaki Masuda and others.
