Toubujyuhan Co.,Ltd.
Notice of Opinion of Support and Recommendation to Tender Regarding the Tender Offer by Kachitasu Co.,Ltd. for Our Shares
Announced a TOB aiming to make Toubujyuhan Co.,Ltd. a wholly owned subsidiary at a tender offer price of 2,000 yen. Minimum acceptance is 1,776,600 shares; the period is 2026/10/14–2026/12/03. Agreement contracts were concluded with specific shareholders including Toshihiro Ogino, and proposals exceeding 2,000 yen were considered and negotiated. Ultimately resolved to support and recommend tendering at 2,000 yen. Schedule and effects of squeeze-out procedures after delisting are also explained.
Key Figures
- Offer Price: 2,000 yen
- Planned Number of Shares to be Purchased: 2,709,886 shares
- Offer Period: 2026-10-14 〜 2026-12-03
AI要約
Overview of the TOB
The tender offer (TOB) by Kachitasu Co.,Ltd. for shares of Toubujyuhan Co.,Ltd. is a transaction aimed at acquiring all shares at an offer price of 2,000 yen to make the company a wholly owned subsidiary. The offer period is 35 business days from October 14, 2026 to December 3, 2026. The planned number of shares to be purchased is 2,709,886 shares, with a lower limit of 1,776,600 shares. The bidder has concluded application agreements with specific shareholders including Toshihiro Ogino, and the post-acquisition reorganization policy is also specified.
Fairness and Impact of This Transaction
The special committee, acting as an independent body, conducted negotiations and decided on the final proposal of 2,000 yen. The premium versus the market price is high, about 72.56% (based on the publication date). Legal procedures such as squeeze-out proceedings, share consolidation, and fractional share handling are also explained, and the risks of delisting as well as opportunities for competing proposals have been considered.
Toubujyuhan Co.,Ltd.
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