Bidder TX1 has launched a tender offer to acquire the common shares and new share subscription rights of ProjectHoldings, Inc. with the aim of making it a wholly owned subsidiary. No upper limit is set; the lower threshold is 3,554,400 shares. An independent committee and independent advisors were appointed to ensure fairness to shareholders, and the premium offered is above the market average. Conditions such as abolition of shareholder benefits are also specified.<\/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\u2606","jir_publication_date":"2026-09-28","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/09\/9246-20260928-02.pdf","jir_short_summary":"Bidder TX1 has launched a tender offer to acquire the common shares and new share subscription rights of ProjectHoldings, Inc. with the aim of making it a wholly owned subsidiary. No upper limit is set; the lower threshold is 3,554,400 shares. An independent committee and independent advisors were appointed to ensure fairness to shareholders, and the premium offered is above the market average. Conditions such as abolition of shareholder benefits are also specified.","jir_summary":"### Overview and Basic Terms of the TOB\nTX1 is conducting a tender offer to acquire the common shares and the new share subscription rights of ProjectHoldings, Inc. with the objective of making the company a wholly owned subsidiary. The offer price for common shares is 2,200 yen. The lower threshold for the planned number of shares to be purchased is 3,554,400 shares; no upper limit is set. The period is 30 business days (2026\/9\/29\u201311\/11). The new share subscription rights will be purchased for 1 yen.\n\n### Fairness and Process\nOur company has expressed support for the tender offer and resolved at the Board of Directors to recommend that shareholders tender their shares. An independent special committee, a financial advisor and legal advisors have been appointed to implement procedures to ensure fairness. The share value was evaluated based on a valuation report from an independent third-party appraiser, and the premium was judged to be reasonable compared to the market average. No majority-of-the-minority condition was set, and emphasis was placed on information disclosure and transparency.","jir_financial_highlights":"Offer price (common shares): 2,200 yen (Unknown)\nPlanned number of shares to be purchased: 3,554,400 shares (Lower threshold)\nOffer period: September 29, 2026\uff5eNovember 11, 2026 (30 business days)","jir_category":"","jir_hashtags":"#TX1, #TenderOffer, #TOB, #ProjectHoldings","jir_key_figures":"Offer price: 2,200 yen\nPlanned number of shares to be purchased: 3,554,400 shares\nPeriod: September 29, 2026\u301cNovember 11, 2026 (30 business days)","jir_meta_title":"TX1 Statement of Support and Recommendation to Tender\uff5cSeptember 2026","jir_meta_description":"Summary of TX1 Co., Ltd.'s statement of support and recommendation to tender for the tender offer on ProjectHoldings, Inc., including offer terms, period, and fairness measures such as the appointment of an independent committee.","jir_og_title":"Analysis of TX1's Statement of Support and Recommendation to Tender","jir_og_description":"Summary of key information regarding TX1's initiation of a TOB: offer price, lower threshold, period, and fairness measures. Also explains shareholder protections and the role of the independent committee.","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-123930","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n