#HokuetsuCorporation

As of March 27, 2026, Daio Paper Corporation has changed to the largest major shareholder, holding 27,932,900 shares (voting rights ratio 17.59%).

On March 19, 2026, 10,000,000 shares of treasury stock were acquired at a total price of ¥10,280,000,000, and the acquisition has been completed. All acquired shares are scheduled to be canceled on March 26, 2026.

Hokuetsu Corporation has sold 11,000,000 shares of Daio Paper’s treasury stock for 12,331 million yen and is expected to be excluded from its equity-method affiliated companies. The settlement date is March 24, 2026.

Daio Paper and Hokuetsu Corporation adjusted their mutual voting rights ratios to below 20%, deepening their strategic business alliance. They indicated a medium-term plan to reduce the ratio further to around 5–10% (2026-03-18).

Plans to repurchase 10,000,000 shares of treasury stock (5.92% of total issued shares) with a cap of 10.7 billion yen on March 19, 2026, and to cancel 15,000,000 shares on March 26, 2026.

Daio Paper Corporation will acquire 25,626,000 common shares of Hokuetsu Corporation (approximately 26.3 billion yen) via an off-market transaction and is scheduled to become the largest shareholder on March 27, 2026.

Hokuetsu Corporation has applied to purchase 11,000,000 shares in Daio Paper Corporation’s treasury stock buyback transaction. If all applied shares are purchased, it is expected to cease being an equity-method affiliate.

Daio Paper and Hokuetsu Corporation will adjust their mutual voting rights ratios to below 20%, establishing an equal capital relationship. They aim to increase combined operating income by 5 billion yen in fiscal year 2026.

Hokuetsu Corporation will change its President & CEO from Akio Kishimoto to Shigeru Wakamoto effective April 1, 2026. Mr. Kishimoto will assume the position of Chairman and Group CEO.

From April 1, 2026, the organization will be restructured by establishing a New Sales Headquarters for Export of Paper, with role changes for the Senior Managing Director, Directors, and Executive Officers.