Kanadevia Corporation [7004.T]
TOKYO, Mar 26 (Pulse News Wire) – Kanadevia Corporation (7004.T) decided today to transfer all shares of its wholly-owned subsidiary, Vtex Corporation, to Kitzu Corporation through a share transfer agreement. As a result, Vtex Corporation and its wholly-owned subsidiaries—VTEX Korea Co., Ltd., VTEX America Inc., and Shanghai WeiTekus Trade Limited—will be delisted from Kanadevia's consolidated subsidiaries.
This move aligns with Kanadevia’s mid-term management plan “Forward 25,” which emphasizes structural reform and portfolio optimization. Vtex Corporation specializes in developing and manufacturing industrial special valves and rupture disks, contributing significantly to clean vacuum valve technology used in semiconductor production. However, due to evolving industry dynamics and regulatory scrutiny, Kanadevia believes that integrating Vtex Corporation into Kitzu Corporation, a comprehensive fluid control equipment manufacturer, would enhance long-term growth and technological development. Key details of the transaction include transferring 886,400 shares valued at ¥9.198 billion.
Following the transfer, Kanadevia will hold zero shares in Vtex Corporation. The transfer is scheduled to take place on June 1, 2026. Regarding financial impact, Kanadevia expects to record approximately ¥7.300 billion as extraordinary income in its individual financial statements for the first quarter of fiscal year 2027. A detailed assessment of the impact on consolidated earnings is ongoing and will be disclosed promptly if significant changes occur.
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