Houlihan Lokey Advises Moriroku

Houlihan Lokey is pleased to announce that Moriroku Co., Ltd. (TSE:4249; Moriroku), a long-established Japanese manufacturer of resin automotive components, has signed a definitive agreement to acquire the resin molding components business of Resonac Holdings Corp. (TSE:4004; Resonac) for an equity value of approximately ¥17.2 billion on a cash-free, debt-free basis. The transaction was signed on September 24, 2025, and is expected to close on April 1, 2026, subject to customary regulatory approvals.

Founded in 1663 and headquartered in Tokyo, Moriroku is a diversified automotive supplier listed on the Tokyo Stock Exchange, with consolidated sales of approximately ¥150 billion. The company operates both a trading and manufacturing business, with resin automotive components as a core pillar. Moriroku employs approximately 8,000 people globally across 15 countries.

Resonac’s resin molding components business provides a wide range of automotive parts, including exterior and interior resin products, with strong technological expertise in resin back-door systems. The business employs approximately 700 people across multiple manufacturing sites in Japan and overseas, and serves leading Japanese OEMs. Resonac’s divestiture of this business is part of its portfolio transformation strategy to sharpen focus on growth areas such as semiconductors and electronic materials.

The acquisition represents a transformational step for Moriroku, providing enhanced customer diversification beyond Honda (currently accounting for more than 90% of sales), strengthening relationships with Toyota, Nissan, and Isuzu, and adding advanced resin back-door mass production technology. The deal significantly improves Moriroku’s long-term competitiveness and growth prospects in the global automotive components market.

Houlihan Lokey acted as the exclusive financial advisor to Moriroku, leading process management, negotiations, and transaction execution. This transaction further demonstrates Houlihan Lokey’s market leadership in advising Japanese corporates on strategically important domestic and cross-border transactions.

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