Wedge Holdings sells four subsidiaries to improve financial stability

TOKYO, Jul 21 (Pulse News Wire) – Wedge Holdings CO.,LTD. (2388.T) sold its stakes in four subsidiaries—Japan Horimoto Confectionery, Asuka Foods, Showa Rubber, and Lucent—to enhance financial stability and prepare for a market segment change application.

The sales were approved during a special board meeting held on July 17, 2026. Despite challenges in finding buyers, Wedge Holdings successfully negotiated with PPC Coral Resort Co., Ltd. for the sale of Japan Horimoto Confectionery's shares and reached agreements with existing shareholders for the remaining three companies. The transaction includes selling Japan Horimoto Confectionery’s shares to PPC Coral Resort Co., Ltd.

And retaining partial holdings in Asuka Foods, Showa Rubber, and Lucent. The total proceeds from the sales are expected to bring significant gains, with estimated profits from Showa Rubber and Lucent amounting to approximately ¥100 million and ¥50 million, respectively. As part of its ongoing efforts to move to the Tokyo Stock Exchange Standard Market, Wedge Holdings plans to continue negotiations and finalize the necessary steps for the market change application. The company remains committed to addressing any legal issues related to the temporary restraining orders imposed by Showa Holdings, ensuring transparency and adherence to regulatory requirements.