IMAGICA GROUP will delist from the Tokyo Stock Exchange on September 29 following shareholder approval of an unprecedented stock consolidation that reduces 44.3 million shares to just 13.
The visual communications company approved the dramatic consolidation at an extraordinary meeting Tuesday, along with eliminating unit share provisions and revising corporate bylaws. Shareholders will receive ¥795 ($5.50) in cash for fractional shares resulting from the 3.3 million-to-one split, with payments scheduled between early December and mid-January.
The moves formalize IMAGICA GROUP’s transition to private ownership after CEO Shunjiro Nagase successfully acquired the company through his special purpose vehicle Mikaduki Inc. The tender offer, completed in June at ¥795 per share, valued the management buyout at ¥15.59 billion ($107 million).
The privatization follows a challenging period for IMAGICA GROUP, which reported decreased sales and significant declines in operating income for fiscal 2025, posting a net loss after previously turning a profit. The company operates across content production, video technology services, and imaging systems for entertainment and industrial clients.
The stock entered supervised trading Tuesday and will cease trading September 26. The consolidation takes effect October 1, completing the transformation of the 90-year-old company from public to private ownership.
