Twinbird Corporation
Our Opinion on the Proposed Public Tender by Japanet for Our Shares
Twin Bird expresses opposition to Japanet’s public acquisition of our shares. Citing risks of dis-synergy, differing management policies, and impact on regional supply chains, we will maintain operations in line with the mid-term business plan to enhance corporate value.
Key Figures
- End-year sales target of the mid-term plan: 11.7 billion yen (fiscal year ending February 2031)
- End-year operating income target of the mid-term plan: 1.4 billion yen (fiscal year ending February 2031)
- Total return ratio: approximately 75%–100%
AI要約
Overview of the transaction and our position
This document states our opposition to Japanet Holdings’ plan to acquire 100% of our subsidiary and expresses our disagreement. Based on the deliberations of the Special Committee, we judge that potential dissynergy arising from changes in capital relationships and management policies is significant, and find little basis for the synergies claimed by Japanet. We emphasize that continuing operations under the mid-term plan will contribute to enterprise value.
Mid-term management plan and future policy
The background for this opinion is the notice dated August 31, 2026, announcing the new mid-term management plan 2026-2030. Twin Bird, under this plan, aims to enhance corporate value and maximize shareholder value by redesigning the business portfolio, restructuring profitability, optimizing costs, and promoting growth businesses. We take the position that not pursuing the public tender and continuing operations in line with the mid-term plan is rational.
Twinbird Corporation
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