Overseasidol.com — Japanese fashion company yutori has announced its decision to fully acquire Heart Relation Inc., a company led by former AKB48 member and entrepreneur Haruna Kojima.
Following this move, Heart Relation will become a wholly owned subsidiary of yutori.
The decision was approved during a board meeting held on April 13, 2026, with the agreement signed on the same day.
The share transfer is scheduled to be completed on April 30, 2026.
Yutori had previously acquired a 51 percent stake in Heart Relation in August 2024.
The company operates several well-known brands, including Her lip to, Her lip to BEAUTY, and ROSIER by Her lip to.
With this latest transaction, yutori will purchase the remaining 49 percent stake from five individual shareholders, including Kojima herself.
The total acquisition cost is estimated at approximately 19.6 billion yen, excluding advisory and related fees.
Of this amount, around 18.2 billion yen corresponds to Kojima’s shares, as she holds a 45.5 percent stake in the company.
Part of the payment will be made through newly issued shares of yutori, allocated to Kojima via a third-party allotment, while the remaining amount will be settled in cash.
Yutori stated that the decision to make Heart Relation a wholly owned subsidiary is based on its consistent growth and strong profitability potential.
The company believes that full ownership will enhance operational efficiency, enable faster decision-making, and directly contribute to increasing shareholder value.
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