Through a public acquisition, acquire Toho Special Steel and make the target company a consolidated subsidiary of the tenderer. Purchase price is 4,491 yen per share, planned number of shares to be purchased 1,936,059 shares. After the acquisition, the tenderer will hold 57.93% of voting rights. Settlement start date: 2026\/7\/6.<\/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,"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":"5471","jir_company_name":"Daido Steel Co., Ltd.","jir_importance":"\u2605\u2605\u2605\u2605\u2605","jir_publication_date":"2026-06-30","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/06\/5471-20260630-01.pdf","jir_short_summary":"Through a public acquisition, acquire Toho Special Steel and make the target company a consolidated subsidiary of the tenderer. Purchase price is 4,491 yen per share, planned number of shares to be purchased 1,936,059 shares. After the acquisition, the tenderer will hold 57.93% of voting rights. Settlement start date: 2026\/7\/6.","jir_summary":"### Key points of this matter\nDaido Steel will acquire Toho Special Steel by a tender offer and will make Toho Special Steel a consolidated subsidiary after completion. The purchase price is 4,491 yen per share, and the planned number of shares to be purchased is 1,936,059. The voting rights ratio after the tender will be 57.93%, which is expected to significantly affect the target's major shareholder structure. Settlement start date is July 6, 2026.\n\n### Outlook and impact\nThe tender offer ended on June 29, 2026, and the subsidiary change will be realized with the settlement start date. Going forward, through procedures such as a squeeze-out, delisting may be considered, and the target's market listing status is expected to change. Earnings impact after the tender offer is under review, and additional information will be disclosed promptly when available.","jir_financial_highlights":"Purchase price, etc.: 4,491 \u5186 (Unknown)\nPlanned number of shares to be purchased: 1,936,059 \u682a (Unknown)\nVoting rights ratio of the tenderer after the tender: 57.93\uff05 (+23.61\uff05)","jir_category":"","jir_hashtags":"#DaidoSteel, #TOB, #TohoSpecialSteel","jir_key_figures":"Purchase price, etc.: 4,491 yen\nPlanned number of shares to be purchased: 1,936,059 shares\nVoting rights ratio after the tender: 57.93\uff05","jir_meta_title":"Daido Steel TOB Results and Subsidiary Changes for Toho Special Steel | June 2026","jir_meta_description":"Explanation of the results of Daido Steel's tender offer for Toho Special Steel and the policy to make it a subsidiary after the acquisition. Purchase price 4,491 yen, number of shares 1,936,059, settlement start date 2026-07-06.","jir_og_title":"Daido Steel TOB Results and Subsidiary Changes for Toho Special Steel | June 2026","jir_og_description":"Daido Steel TOB completion for Toho Special Steel. Purchase price 4,491 yen, acquired shares 1,936,059, settlement start date July 6, delisting may be considered. Please refer to the IR materials for details.","jir_og_image_url":"\/assets\/og\/company-general_ir.jpg","jir_chart_data_collection":"[]","ir_related_company":8069,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"tender_offer","footnotes":""},"sector":[],"importance":[],"class_list":["post-73266","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n