MUFG: Hisamitsu Pharma stake falls to 1.1%
TL;DR
MUFG's stake in Hisamitsu Pharmaceutical dropped to 1.1% after a tender offer by TAIYO KOSAN, led by Hisamitsu's CEO, acquired a majority 61.81% stake, leading to the company's delisting as part of a privatization move to focus on long-term strategy amid domestic market challenges.
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MUFG: Hisamitsu Pharma stake falls to 1.1%
MUFG’s Stake in Hisamitsu Pharmaceutical Co. Reduces to 1.1% Amid Privatization
Mitsubishi UFJ Financial Group Inc. (MUFG) has seen its ownership stake in Hisamitsu Pharmaceutical Co., Inc. (JP:4530) decline to 1.1% following the completion of a tender offer led by TAIYO KOSAN CO., INC., the entity controlled by Hisamitsu’s CEO, Kazuhide Nakatomi according to the company's notice. The tender offer, which concluded on February 19, 2026, resulted in TAIYO KOSAN acquiring 61.81% of Hisamitsu's voting rights, positioning it as the majority shareholder and triggering the company's delisting from Japanese stock exchanges.
MUFG's reduced stake reflects broader shifts in Hisamitsu's ownership structure as the company transitions to private ownership. The tender offer, valued at approximately ¥450 billion ($2.9 billion), was part of a management buyout (MBO) aimed at insulating the firm from regulatory and investor pressures while enabling long-term strategic investments. Hisamitsu, known for its Salonpas pain-relief patches, has faced declining domestic sales and profit pressures due to Japan's push for generic drug adoption and price cuts.
The privatization aligns with a trend of Japanese firms exiting public markets to avoid short-term performance expectations. Hisamitsu plans to reinvest ¥200 billion in overseas expansion and R&D to counter domestic challenges. While MUFG's stake has diminished, the bank's prior involvement in Hisamitsu's capital structure underscores the complex interplay of institutional ownership in Japan's corporate landscape.
TAIYO KOSAN's acquisition of a controlling stake marks a pivotal step in Hisamitsu's restructuring, with delisting procedures expected to finalize in the coming months. The move highlights the ongoing consolidation in Japan's pharmaceutical sector as companies navigate aging populations and evolving market dynamics.
According to Bloomberg: Bloomberg, according to Hisamitsu's press release: Hisamitsu Pharmaceutical press release.
