Mizuho Leasing Company, Limited
(Change) Notice Concerning Changes to Tender Offer Conditions for Japan Infrastructure Fund Investment Corporation (Securities Code: 9287) Units by MM Power LLC
In the tender offer by ML Power, a wholly owned subsidiary of Mizuho Leasing, for units of Japan Infrastructure Fund Investment Corporation, the lower limit of units planned for purchase was lowered from 292,814 units to 263,532 units, the tender offer price was raised from ¥65,000 to ¥67,000, and the tender offer period was extended until January 22, 2026.
Key Figures
- Lower limit of units planned for purchase: 263,532 units (ownership ratio 60.00%)
- Tender offer price: ¥67,000 (raised from previous ¥65,000)
- Tender offer period: November 7, 2025 – January 22, 2026 (48 business days)
- Total purchase amount: ¥29,427,740,000
- Settlement start date: January 29, 2026
AI要約
Overview and Changes of the Tender Offer
MM Power LLC, funded by ML Power Co., Ltd., a wholly owned subsidiary of Mizuho Leasing Company, Limited, is currently conducting a tender offer for units of Japan Infrastructure Fund Investment Corporation. This time, the lower limit of units planned for purchase was reduced from 292,814 units (ownership ratio 66.67%) to 263,532 units (ownership ratio 60.00%), the tender offer price was increased from ¥65,000 to ¥67,000, and the tender offer period was extended until January 22, 2026, to enhance the likelihood of completion. As a result, the total purchase amount increased to approximately ¥29.4 billion, and the settlement start date was postponed to January 29, 2026.
Post-Tender Offer Policy and Ensuring Fairness
Even if the tender offer does not succeed, a unit consolidation (squeeze-out) is planned to wholly own the target entity. The target's board of directors supports the tender offer and recommends shareholders to apply. The lower limit of units planned for purchase satisfies the Majority of Minority condition, ensuring the acquisition will not succeed without the approval of at least a majority of minority shareholders, thereby guaranteeing fairness. The Special Committee’s review also judged the transaction terms to be fair and reasonable.
