Announcement of commencement of a tender offer. Purchase price is 2,200 yen per common share and 1 yen per warrant. Offer period is September 29, 2026 to November 11, 2026 (30 business days), with a minimum tender of 3,554,400 shares. Based on tender offer agreements executed with selling shareholders including SBI Holdings, Yunosuke Doi, and DY Fund No.1, the bidder plans to implement squeeze-out procedures after successful TOB for the purpose of making the company a wholly owned subsidiary.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","meta":{"Ticker":"","DATE":"","longName":"","company_name_ja":"","fullTimeEmployees":0,"address":"","phone":"","website":"","industry":"","sector":"","regularMarketPrice":0,"financialCurrency":"","marketCap":0,"fiftyTwoWeekLow":0,"fiftyTwoWeekHigh":0,"epsTrailingTwelveMonths":0,"epsForward":0,"bookValue":0,"totalRevenue":0,"OperatingIncome":0,"operatingMargins":0,"NetIncome":0,"profitMargins":0,"ebitda":0,"trailingPE":0,"forwardPE":0,"priceToBook":0,"returnOnEquity":0,"recommendationMean":0,"recommendationKey":"","targetMeanPrice":0,"numberOfAnalystOpinions":0,"analyst_earnings_data":"","dividendRate":0,"dividendYield":0,"payoutRatio":0,"totalEsg":0,"environmentScore":0,"socialScore":0,"governanceScore":0,"title":"","providerPublishTime":"","link":"","longBusinessSummary":"","longBusinessSummary_ja":"","quarterly_revenue":0,"quarterly_net_income":0,"quarterly_operating_profit":0,"enterprise_value":0,"price_fetched_at":"","company_officer_1_name":"","company_officer_1_title":"","company_officer_2_name":"","company_officer_2_title":"","company_officer_3_name":"","company_officer_3_title":"","company_officer_4_name":"","company_officer_4_title":"","company_officer_5_name":"","company_officer_5_title":"","company_officers_update_time":"","get_dividend_history_year1":0,"get_dividend_history_year2":0,"get_dividend_history_year3":0,"get_dividend_history_year4":0,"get_dividend_history_year5":0,"get_dividend_history_year6":0,"get_dividend_history_year7":0,"get_dividend_history_year8":0,"get_dividend_history_year9":0,"get_dividend_history_year10":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jir_stock_code":"9246","jir_company_name":"ProjectHoldings, Inc.","jir_importance":"\u2605\u2605\u2605\u2605\u2605","jir_publication_date":"2026-09-28","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/09\/9246-20260928-01.pdf","jir_short_summary":"Announcement of commencement of a tender offer. Purchase price is 2,200 yen per common share and 1 yen per warrant. Offer period is September 29, 2026 to November 11, 2026 (30 business days), with a minimum tender of 3,554,400 shares. Based on tender offer agreements executed with selling shareholders including SBI Holdings, Yunosuke Doi, and DY Fund No.1, the bidder plans to implement squeeze-out procedures after successful TOB for the purpose of making the company a wholly owned subsidiary.","jir_summary":"### Overview and Purpose of the TOB\nThe commencement of a tender offer by TX1 Inc. for the shares and other securities of ProjectHoldings, Inc. has been announced. The purpose of this tender offer is to make the target a wholly owned subsidiary. The offer period is from September 29, 2026 to November 11, 2026 (30 business days). The purchase price is 2,200 yen per common share and 1 yen per warrant. The planned number of shares to be purchased is 5,693,559 shares, and the minimum number of shares to be purchased is 3,554,400 shares. Major shareholders of the target include SBH (SBI Holdings), Yunosuke Doi, and DY Fund No.1, who have indicated their intention to tender their shares to this offer. The bidder plans to consider share consolidation and squeeze-out procedures after the tender offer.\n\n### Ensuring Fairness and Independence and Price Determination Process\nAn independent financial advisor (SBI Securities) and an independent third-party valuation firm (Trusties) were appointed and a stock valuation report was obtained. The valuation used the market price method, comparable listed companies method, and DCF method, yielding ranges of 1,049-1,110 yen, 942-1,332 yen, and 1,913-2,496 yen respectively. The final TOB price is 2,200 yen. An independent special committee was established and submitted an opinion to ensure the fairness of the transaction terms. The decision to proceed with the TOB and whether to maintain listing status are being carefully considered.","jir_financial_highlights":"","jir_category":"","jir_hashtags":"#ProjectHoldings, #TOB, #WhollyOwnedSubsidiary, #DueDiligence, #IndependentCommittee","jir_key_figures":"Purchase price: 2,200 yen\/share\nWarrant purchase price: 1 yen\/unit\nPlanned number of shares to be purchased: 5,693,559 shares\nMinimum number of shares to be purchased: 3,554,400 shares\nOffer period: 2026-09-29\u301c2026-11-11","jir_meta_title":"Announcement of Commencement of Tender Offer for ProjectHoldings, Inc.\uff5cSeptember 2026","jir_meta_description":"TX1 announced commencement of a tender offer for PROJ shares. Purchase price 2,200 yen, minimum 3,554,400 shares, 30 business day period. Summary of M&A strategy aimed at making the company a wholly owned subsidiary and measures to ensure fairness.","jir_og_title":"Announcement of Commencement of Tender Offer for ProjectHoldings, Inc.","jir_og_description":"TX1 announced commencement of a tender offer. Purchase price 2,200 yen, minimum 3,554,400 shares, 30 business days. The involvement of an independent committee and experts to ensure fairness is also noted.","jir_og_image_url":"\/assets\/og\/company-general_ir.jpg","jir_chart_data_collection":"[]","ir_related_company":59607,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"tender_offer","footnotes":""},"sector":[],"importance":[],"class_list":["post-123929","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n