In response to JPNET’s tender offer for Twin Bird shares, our Company\u2019s Board of Directors expresses opposition. The Special Committee recognizes that this may constitute a sincere acquisition proposal, but concludes that it would not contribute to value creation due to dis-synergies and high uncertainty. 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The Special Committee recognizes that this may constitute a sincere acquisition proposal, but concludes that it would not contribute to value creation due to dis-synergies and high uncertainty. Going forward, we will advance our business based on the medium-term management plan.","jir_summary":"### Review framework for this transaction\nIn connection with this transaction, an independent advisor was appointed and a special committee was established to ensure fairness of the review process. Based on the letter of intent, we sought the advice of professionals in finance, legal, and strategy, and carefully evaluated from the perspective of enhancing corporate value.\n\n### Special Committee's recommendation and our stance\nThe Special Committee acknowledges that this transaction could potentially be a sincere acquisition proposal, but our company should not implement it and should not endorse it. Concerns about dis-synergies are significant, and at this point it would not contribute to corporate value.","jir_financial_highlights":"Sales: Unknown (Unknown)\nOperating loss: Unknown (Unknown)","jir_category":"","jir_hashtags":"#TwinBird, #TenderOffer, #Disclosure, #SpecialCommittee, #ValueEnhancement","jir_key_figures":"Acquisition price: 800 yen per share (Tender offer price)\nLower bound of shares to be acquired: 7,270,800 shares\nTender offer period: 30 business days","jir_meta_title":"\u3010Twin Bird\u3011 Notice of Opposition to JPNET Tender Offer | August 2026","jir_meta_description":"Twin Bird expresses opposition to JPNET's tender offer. Summary of the Special Committee's deliberations and conclusions, outlook for value enhancement, and impact on the medium-term plan.","jir_og_title":"Twin Bird Opposes Tender Offer | August 2026","jir_og_description":"Twin Bird opposes JPNET's tender offer. Summary of the Special Committee's deliberations and conclusions, and the direction for the medium-term plan for investors.","jir_og_image_url":"\/assets\/og\/company-general_ir.jpg","jir_chart_data_collection":"[]","ir_related_company":60211,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"disclosure_update","footnotes":""},"sector":[],"importance":[],"class_list":["post-108679","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n