Noritz completes Ogiwara acquisition, secures majority stake

Noritz Corporation announced today that it has successfully completed the simplified stock delivery, making Ogiwara Corporation its subsidiary. The stock delivery took effect on December 19, 2025, following the resolution and approval of the stock delivery plan on November 19, 2025. Noritz acquired 30,325 shares of Ogiwara Corporation's common stock, exceeding the minimum threshold of 14,977 shares.

As a result of this transaction, Noritz Corporation now holds 56,658 shares of Ogiwara Corporation, representing a 69.9% ownership stake, up from 32.5% previously. This makes Ogiwara Corporation a consolidated subsidiary of Noritz.

In exchange for the acquired shares, Noritz delivered 365,416 shares of its own common stock to the former shareholders of Ogiwara Corporation. The application period for the transfer of Ogiwara Corporation shares concluded on December 12, 2025.