Mandom Corporation
(Amendment) Notice Regarding Partial Changes to the “Opinion Expressing Support for the Implementation of MBO and Recommendation to Tender”
The tender offer price has been raised to 3,105 yen, and the tender offer period extended until February 25, 2026. The offeror plans to increase investment from 61 billion yen to 89 billion yen and has resolved to support the MBO and recommend tendering.
Key Figures
- Tender Offer Price: 3,105 yen (after 3rd purchase price change)
- Tender Offer Period: Extended until February 25, 2026
- Planned Investment Amount from Offeror's Parent Company: 89 billion yen
- Planned Loan Amount from MUFG Bank: 60 billion yen
- Shares Agreed to Tender: 939,790 shares
- Shares Agreed Not to Tender: 4,670,000 shares
- Nishimura Family Shareholding Ratio (After Reinvestment): 20.2% (planned)
AI要約
Overview and Changes of the Tender Offer
Concerning the tender offer by Caron Holdings Co., Ltd. for Mandom Corporation, the tender offer price has been raised from the previous 2,600 yen to 3,105 yen, and the tender offer period has been extended until February 25, 2026. The offeror plans to receive an investment of 89 billion yen from the parent company at the time of the tender offer’s success and expects a loan of 60 billion yen from MUFG Bank. The tender offer is classified as a Management Buyout (MBO), with Mr. Motonobu Nishimura and Mr. Ken Nishimura continuing their involvement in management.
Future Schedule and Organizational Restructuring Policy
After the tender offer is completed, an extraordinary shareholders meeting will be held around late April 2026 to approve a share consolidation and the abolition of the unit share system under the Companies Act. The offeror will conduct multiple share transfers, establish a new holding company (such as KLA HD), and through squeeze-out procedures and real estate sales, will aim to concentrate management resources and reduce interest-bearing liabilities. The Nishimura family shareholders will maintain a 20.2% holding ratio through reinvestment and plan to pursue a public listing.
