Tohto Suisan scraps final dividend, ends shareholder benefits

Tohto Suisan Co., Ltd. [TSE:8038] announced today that it will eliminate its year-end dividend for the fiscal year ending March 2025, revising its prior forecast of ¥150 per share. The decision follows a tender offer by Aso Tosui Holdings, leading to Tohto Suisan becoming a wholly-owned subsidiary and plans for a subsequent squeeze-out procedure. As a result of the change in ownership, the company will also discontinue its shareholder benefits program, which had provided preferential treatment to shareholders of record as of September 30th. The dividend elimination aims to ensure equitable treatment between shareholders who tendered their shares and those receiving cash consideration in the squeeze-out.