TOKYO, Mar 19 (Pulse News Wire) – Daio Paper Corporation (3880.T) announced that its related party, North Koshi Corporation, will cease to be considered a related party effective March 24 due to a share repurchase transaction. On March 18, North Koshi Corporation informed Daio Paper of its intention to participate in Daio Paper's tender offer for its own shares through ToSTNeT-3.
Upon completion of the tender offer, North Koshi Corporation will no longer hold enough shares to qualify as a related party. North Koshi Corporation, headquartered in Niigata Prefecture, had a capital of ¥42.02 billion as of March 31, 2025, and held 415,990 voting rights prior to the transaction.
Post-transaction, North Koshi will retain 30,589,008 shares, corresponding to 11,000,000 voting rights. Prior to the deal, North Koshi owned 24.99% of Daio Paper’s outstanding shares; post-deal, their stake drops to approximately 13.8%.
The company expects the impact on its operations to be minor but commits to disclosing any significant developments promptly.
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