XYREON HOLDINGS SDN. BHD. (Headquarters: Penang, Malaysia; President: Raymond Chew; hereinafter “XYREON HOLDINGS”) and U-NEXT HOLDINGS Co., Ltd. (Headquarters: Shinagawa-ku, Tokyo; President & CEO: Yasuhide Uno; hereinafter “U-NEXT HOLDINGS”) announce that they have entered into a strategic capital and business alliance agreement as of January 30, 2026.
Overview of the Capital and Business Alliance
Effective February 27, 2026, U-NEXT HOLDINGS will acquire 45% of the outstanding shares of XYREON HOLDINGS, whereby XYREON HOLDINGS is slated to be an equity-method affiliate of U-NEXT HOLDINGS.
XYREON HOLDINGS will acquire all shares of ALMEX SYSTEM TECHNOLOGY ASIA SDN. BHD. (Headquarters: Kuala Lumpur, Malaysia; President: Shodai Sugiyama; hereinafter “ASTA”), a Malaysian subsidiary of USEN-ALMEX Co., Ltd., through a phased acquisition process over the next three years, involving both periodic third-party allotments of new shares and share transfers, thereby making ASTA its wholly-owned subsidiary.
Furthermore, XYREON HOLDINGS plans to change its trade name to “XYREON U-NEXT HOLDINGS SDN. BHD.” in March 2026.
Background and Purpose
XYREON HOLDINGS adopted a holding company structure in 2025 as a strategic milestone in its preparation for an initial public offering (IPO), with the objective of strengthening group governance, enhancing capital efficiency, and reinforcing its corporate brand. The Group operates through two wholly owned subsidiaries.
XYREON TECHNOLOGY SDN. BHD., established in 2004, serves as the Group’s foundational business, focusing on the wholesale distribution of industrial PCs and automation equipment. In 2022, KIOSK MANUFACTURING SDN. BHD. was established to assume responsibility for the kiosk manufacturing business, enabling greater operational specialization and a more efficient management structure.
Through the transition to a holding company structure, XYREON HOLDINGS aims to optimize group-wide management oversight, improve strategic flexibility, and create a scalable platform for sustainable growth, thereby positioning the Group to enhance long-term enterprise value for shareholders.
With bases across Southeast Asia, it has established itself as one of the leading companies in the Malaysian market. XYREON TECHNOLOGY SDN. BHD. and KIOSK MANUFACTURING SDN. BHD.‘s greatest strength lies in its unique manufacturing know-how, which allows full customization starting from a Minimum Order Quantity (MOQ) of just one unit, provided at costs equal to or lower than mass-produced machines.
U-NEXT HOLDINGS is a comprehensive Japanese corporate group listed on the Prime Market of the Tokyo Stock Exchange. Its core businesses include the streaming service “U-NEXT” and “USEN,” a leading provider of music distribution service for stores in Japan.
The group operates a diversified portfolio, including DX (Digital Transformation) solutions for hotels and retail stores. Its robust business foundation, nationwide sales network, and strong brand presence are widely recognized and highly regarded within Japan.
In support of the group subsidiary ASTA’s expansion of DX solution services within the Southeast Asian hospitality market, we have served as a lead manufacturer of ASTA’s KIOSK units since 2020. Throughout this period, we have built a powerful relationship as their most vital and closest strategic partner.
Through this partnership, we will strengthen our framework for providing one-stop support to Japanese companies expanding into Southeast Asia. Simultaneously, we aim to introduce our products—which hold a strong competitive edge in both quality and pricing—to the Japanese market through U-NEXT HOLDINGS’ powerful distribution network, thereby expanding the customer base for both companies.
Furthermore, with the participation of the U-NEXT HOLDINGS management team – which has a proven track record of leading multiple companies to successful IPOs and achieving dramatic business turnarounds – we aim to enhance our management sophistication and increase corporate value.
Through this collaboration, we are committed to ensuring the success of our own IPO, which we have set as a key medium-term objective.
Both companies have commented on this initiative as follows:
Comments:
Shohei Mabuchi Managing Director and CIO (in charge of M&A, Finance, Real Estate, and Global Business), U-NEXT HOLDINGS (Text omitted as per source placeholder)
“We have built a strong relationship with XYREON HOLDINGS in the Southeast Asian market as a key supplier for ASTA. Through this strategic capital and business alliance between our holding companies, we aim to maximize mutual synergies, including a full-scale entry into the Japanese market and the diversification of our client base. We are committed to accelerating the global expansion of diverse KIOSK and automation systems that drive improvements in user convenience and productivity.
By bringing XYREON HOLDINGS’ products—built upon high technical capabilities, superior quality, a leading track record in Southeast Asia, and sincere craftsmanship—to a broader global audience, we will enhance the corporate value and sustainable growth of both groups. In doing so, we aim to contribute to the sound development and creation of a rapidly evolving technological society.”
Raymond Chew CEO, XYREON HOLDINGS (Text omitted as per source placeholder)
“This strategic capital and business alliance with U-NEXT HOLDINGS marks a defining milestone in XYREON HOLDINGS’ growth journey and our transformation into a truly regional, and soon global, technology group.
What began as a trusted manufacturing partnership has now evolved into a deep, long-term alliance built on mutual respect, shared values, and a common vision for innovation in self-service, automation, and DX solutions. U-NEXT HOLDINGS brings with it exceptional operational excellence, a strong governance framework, and a proven track record in scaling businesses and guiding them successfully toward IPOs.
Through this alliance, we will significantly accelerate our expansion into the Japanese market while strengthening our presence across Southeast Asia. By combining XYREON’s flexible manufacturing capabilities, cost-efficient customization, and deep on-the-ground execution strength with U-NEXT HOLDINGS’ powerful distribution network, brand credibility, and management expertise, we are creating a platform for sustainable, high-quality growth.
Looking ahead, this partnership will not only enhance our corporate value but also sharpen our organizational maturity as we progress toward our medium-term objective of a public listing. We are confident that this alliance will generate meaningful synergies for both groups and deliver long-term value to our customers, partners, and stakeholders.”
■ About XYREON HOLDINGS SDN. BHD.
Company Name: XYREON HOLDINGS SDN. BHD.
Address: No.2463, Jalan IKS Bukit Minyak 1C, Taman IKS Bukit Minyak, 14100 Simpang Ampat, Pulau Pinang, Malaysia.
Representative: Raymond Chew
Established: 2004
■ About U-NEXT HOLDINGS Co., Ltd.
Company Name: U-NEXT HOLDINGS Co., Ltd.
Address: Meguro Central Square, 3-1-1 Kamiosaki, Shinagawa-ku, Tokyo
Representative: Yasuhide Uno, President & CEO
Established: February 2009
■ About ALMEX SYSTEM TECHNOLOGY ASIA SDN. BHD.
Company Name: ALMEX SYSTEM TECHNOLOGY ASIA SDN. BHD.
Address: B-11-1 Megan Avenue 1, 189 Jalan Tun Razak, 50400 Kuala Lumpur, Malaysia
Representative: Shodai Sugiyama, Managing Director
Established: November 2014
