Dai Nippon Toryo Company, Limited has entered into a share exchange agreement to make Shinto Paint Co., Ltd. a wholly owned subsidiary. The effective date is scheduled for 2027-02-25. Shinto Paint will be delisted, and the transaction aims to pursue synergies through full subsidiarization, and optimize capital, human resources, and disclosure frameworks. Governance measures to ensure fairness, such as establishing an independent committee and using valuation advisors, are specified. The share exchange ratio is 0.0824, and the number of shares to be delivered is expected to be approximately 13,995,140 shares.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","meta":{"Ticker":"","DATE":"","longName":"","company_name_ja":"","fullTimeEmployees":0,"address":"","phone":"","website":"","industry":"","sector":"","regularMarketPrice":0,"financialCurrency":"","marketCap":0,"fiftyTwoWeekLow":0,"fiftyTwoWeekHigh":0,"epsTrailingTwelveMonths":0,"epsForward":0,"bookValue":0,"totalRevenue":0,"OperatingIncome":0,"operatingMargins":0,"NetIncome":0,"profitMargins":0,"ebitda":0,"trailingPE":0,"forwardPE":0,"priceToBook":0,"returnOnEquity":0,"recommendationMean":0,"recommendationKey":"","targetMeanPrice":0,"numberOfAnalystOpinions":0,"analyst_earnings_data":"","dividendRate":0,"dividendYield":0,"payoutRatio":0,"totalEsg":0,"environmentScore":0,"socialScore":0,"governanceScore":0,"title":"","providerPublishTime":"","link":"","longBusinessSummary":"","longBusinessSummary_ja":"","quarterly_revenue":0,"quarterly_net_income":0,"quarterly_operating_profit":0,"enterprise_value":0,"price_fetched_at":"","company_officer_1_name":"","company_officer_1_title":"","company_officer_2_name":"","company_officer_2_title":"","company_officer_3_name":"","company_officer_3_title":"","company_officer_4_name":"","company_officer_4_title":"","company_officer_5_name":"","company_officer_5_title":"","company_officers_update_time":"","get_dividend_history_year1":0,"get_dividend_history_year2":0,"get_dividend_history_year3":0,"get_dividend_history_year4":0,"get_dividend_history_year5":0,"get_dividend_history_year6":0,"get_dividend_history_year7":0,"get_dividend_history_year8":0,"get_dividend_history_year9":0,"get_dividend_history_year10":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jir_stock_code":"4611","jir_company_name":"Dai Nippon Toryo Company, Limited","jir_importance":"\u2605\u2605\u2605\u2605\u2606","jir_publication_date":"2026-11-06","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/11\/4611-20261106-02.pdf","jir_short_summary":"Dai Nippon Toryo Company, Limited has entered into a share exchange agreement to make Shinto Paint Co., Ltd. a wholly owned subsidiary. The effective date is scheduled for 2027-02-25. Shinto Paint will be delisted, and the transaction aims to pursue synergies through full subsidiarization, and optimize capital, human resources, and disclosure frameworks. Governance measures to ensure fairness, such as establishing an independent committee and using valuation advisors, are specified. The share exchange ratio is 0.0824, and the number of shares to be delivered is expected to be approximately 13,995,140 shares.","jir_summary":"### Overview of M&A and Capital Partnership\nDai Nippon Toryo Company, Limited has entered into a share exchange agreement to make Shinto Paint Co., Ltd. a wholly owned subsidiary. The effective date is set for 2027-02-25 (scheduled), and the delisting date for Shinto Paint shares is announced as 2027-02-22 (scheduled). The two companies will work to optimize internal controls, audit, and disclosure frameworks, improve efficiency of capital, human resources and procurement across the group, and seek synergies including global expansion. Measures to ensure fairness, such as establishing an independent directors committee, are also specified.\n\n### Impact on Shareholders and the Market and Upcoming Schedule\nWhile Shinto Paint will be delisted, after becoming a wholly owned subsidiary it will be able to utilize financing and management resources through the Dai Nippon Toryo Group, which is expected to maintain liquidity and financial strength. The exchange ratio is 0.0824, and the number of Dai Nippon Toryo shares to be delivered is expected to be approximately 13,995,140 shares. The timeline proceeds in stages: agreement signed on 2026-11-06, extraordinary shareholders meeting on 2027-01-15, last trading day on 2027-02-19, delisting on 2027-02-22, and effective date on 2027-02-25.","jir_financial_highlights":"Share exchange ratio: 0.0824 (Unknown)\nNumber of shares to be delivered: 1,399,514 shares (Unknown)\nDelisting date: 2027-02-22 (scheduled) (Unknown)\nEffective date: 2027-02-25 (scheduled) (Unknown)\nRecord date for extraordinary general meeting (Shinto Paint): 2026-11-21 (scheduled) (Unknown)","jir_category":"","jir_hashtags":"#DaiNipponToryo, #ShareExchange, #CorporateRestructuring","jir_key_figures":"Share exchange ratio: 0.0824\nNumber of shares to be delivered: 1,399,514 shares\nDelisting date: 2027-02-22 (scheduled)","jir_meta_title":"Dai Nippon Toryo Company, Limited Concludes Share Exchange Agreement to Make Shinto Paint a Wholly Owned Subsidiary | Around Feb 2027","jir_meta_description":"Dai Nippon Toryo Company, Limited has concluded a share exchange agreement to make Shinto Paint Co., Ltd. a wholly owned subsidiary. The effective date is scheduled for 2027-02-25 and delisting is planned for 2027-02-22. Fairness is ensured through measures such as establishing an independent directors committee. Timeline and impacts are explained.","jir_og_title":"Dai Nippon Toryo Company, Limited Concludes Share Exchange Agreement to Make Shinto Paint a Wholly Owned Subsidiary","jir_og_description":"Dai Nippon Toryo Company, Limited has formally concluded a share exchange agreement to make Shinto Paint Co., Ltd. a wholly owned subsidiary, announcing the effective date, delisting date, and steps to ensure fairness including establishing an independent committee.","jir_og_image_url":"\/assets\/og\/company-general_ir.jpg","jir_chart_data_collection":"[]","ir_related_company":56893,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"corporate_restructuring","footnotes":""},"sector":[],"importance":[],"class_list":["post-143733","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n