Elecom completes Nippon Antenna acquisition, appoints new board

Elecom Co., Ltd. announced on November 25, 2025, the completion of its simplified share exchange to acquire Nippon Antenna Co., Ltd., making it a wholly-owned subsidiary. The transaction was effective as of November 25, 2025, following shareholder approval of the share exchange agreement on October 24, 2025. Elecom utilized a simplified share exchange procedure, not requiring its own shareholder approval.

The acquisition also included changes to Nippon Antenna's board of directors, with new appointments made today. Junji Hada and Teruhiko Nagashiro were appointed as chairman of the board and president and representative director, respectively. Elecom’s president, Koichi Iwami, and director & senior managing executive officer, Masaki Tanaka, were also newly appointed as directors of Nippon Antenna, alongside Kiyotaka Tatekawa and Koji Ota. Shigemi Shimizu was reappointed as senior managing director, and Koichiro Horie was appointed as auditor.

The share exchange will be accounted for as an acquisition under the Accounting Standards for Business Combinations, with the potential for negative goodwill on Elecom's consolidated financial statements. The exact amount of this negative goodwill is yet to be determined and will be announced later. Elecom and Nippon Antenna will jointly examine and announce the financial outlook following the share exchange.