TOKYO, May 08 (Pulse News Wire) – Smile Holdings Inc. (7084.T) completed its acquisition of WITH Holdings Co., Ltd.
On March 23, 2026, making WITH Holdings a significant subsidiary due to its capital exceeding 10% of Smile Holdings' own capital. As a result, WITH Holdings, Angelica Corp., and N Planning Corp. became subsidiaries of Smile Holdings. The transaction involved two key deals: acquiring shares from TMCAP2016 Investment Limited Partnership and accepting newly issued shares from WITH Holdings in exchange for payment, leading to Smile Holdings owning a majority stake in WITH Holdings. Following the completion, the board structure was updated, with Nakai Masafumi appointed as the new chairman of WITH Holdings and Arai Makoto retaining his position as president while also managing two other subsidiaries. With Holdings now operates childcare facilities and holds a capital of ¥100 million.
Its major shareholder, Smile Holdings, owns 100% of the shares. Similarly, WITH Corp., which manages childcare facilities and has a capital of ¥33 million, is now a subsidiary with WITH Holdings holding 100% of its shares. Angelica Corp., another childcare facility operator with a capital of ¥50 million, also falls under Smile Holdings’ control, with WITH Holdings owning 100% of its shares. Additionally, N Planning Corp., engaged in staffing services with a capital of ¥4 million, is now a subsidiary of Smile Holdings, with WITH Holdings owning 100% of its shares. The impact of this acquisition on Smile Holdings' consolidated performance for the current fiscal year is currently being assessed. Once finalized, the company will promptly disclose its revised earnings forecast.
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