#Privatization

Forum Engineering Inc. has resolved to conduct a tender offer for treasury shares of 23,484,273 common shares (up to 43.96% of total issued shares) at 1,530 yen per share from March 3 to March 31, 2026.

Tsumura & Co. has entered into a basic transaction agreement among four companies aiming for the privatization and organizational restructuring of Yomeishu Seizo Co., Ltd., and plans to acquire target shares from Yuzawa Co., Ltd. for 6.8 billion yen.

FMDI LLC, a wholly owned subsidiary of Itochu Corporation, will conduct a tender offer for Itochu Foods Corporation shares at 13,000 yen per share aiming for privatization. The lower limit of shares to be purchased is 1,801,900 shares. The Board of Directors resolved in favor on 2026-02-25.

Caron Holdings Co., Ltd. raised the tender offer price for Mandom Corporation from 2,520 yen per share to 2,600 yen per share and extended the tender offer period to February 12, 2026.

Star Micronics Co., Ltd. is scheduled to be delisted from the Tokyo Stock Exchange Prime Market on March 13, 2026, consolidating 8,652,350 shares into one share and reducing the total number of issued shares to 5 shares. The tender offer price is 2,210 yen, and the extraordinary general meeting of shareholders is planned for February 26, 2026.

Fujitec Co., Ltd. plans to implement a stock consolidation on March 25, 2026, consolidating 6,531,252 shares into one share, reducing total issued shares from 78,375,024 shares to 12 shares. In conjunction, the unit share system will be abolished, and the company is expected to be delisted from the Tokyo Stock Exchange Prime Market on March 23, 2026.

Toyota Asset Preparation Co., Ltd., established by Toyota Real Estate Co., Ltd., will commence a tender offer for shares of Toyota Industries Corporation on January 15, 2026. The offer price has been raised to ¥18,800 per share, with the Board of Directors expressing support and recommending shareholders to participate.

There are reports that the company will be privatized through a management buyout (MBO) worth approximately 450 billion yen; however, this was not announced by the company. The management buyout is under consideration and an official announcement is planned within today.