KITZ Corporation (TSE:6498) signed a share transfer agreement to acquire V TEX Corporation from Kanadevia Corporation (TSE:7004) for ¥9.2 billion on March 26, 2026. As part of the acquisition, KITZ Corporation will acquire all shares in V TEX Corporation. The consideration will be paid in cash. As a result of the Share Transfer, V TEX Corporation and its wholly owned subsidiaries, V TEX Korea Co., Ltd., VTEX America Inc., and V TEX Shanghai Co.,Ltd. will be excluded from the Kanadevia?s consolidated subsidiaries and affiliated companies and will operate as a wholly owned subsidiary of KITZ Corporation.
For the period ending March 31, 2025, V TEX Corporation reported total revenue of ¥8.5 billion, operating income of ¥395 million and net income of ¥363 million. As of March 31, 2025, V TEX Corporation reported total assets of ¥9.82 billion and net assets of ¥3.27 billion.
The transaction is expected to close on June 1, 2026.
KITZ Corporation (TSE:6498) completed the acquisition of V TEX Corporation from Kanadevia Corporation (TSE:7004) on June 1, 2026.
As part of the transaction, Kenji Kato will be appointed as the new President & CEO and Hiroyuki Masuo will be appointed as the new Senior Managing Director of V TEX Corporation. Additionally, several executives from KITZ Corporation will be appointed to the board, while certain existing directors will continue in their roles.
Kitz Corp is a Japan-based company primarily engaged in the valve business and the brass bar business. The Company operates two business segments. The Valve Business segment mainly engaged in the manufacture and sale of bronze valves, steel valves, other valve-related products, filtration-related products and their accessories. The Brass Bar Business segment mainly engaged in the manufacture and sale of brass bar products and processed brass bar products. The Company also involves the hotel and restaurant business.
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