BASE, Inc. (4477) said on Oct. 5, 2026 that a major shareholder plans to resume buying its shares from Oct. 2 with the aim of lifting its holding ratio above 30%, amid a tender offer by SBINM LLC, a wholly owned subsidiary of SBI Holdings, Inc.
In an amendment to its Aug. 28, 2026 release, BASE said its opinion was unchanged: it supports the tender offer for its common shares and leaves the decision on whether to tender to shareholders. The board also resolved at that time to sign a capital and business alliance agreement with SBI Holdings. On Sept. 30, SBINM decided to extend the offer period.
BASE said it informed the major shareholder's agent of the extension on Sept. 30 and sent its reply to a letter of confirmation from the shareholder concerning BASE's deliberations over possibly receiving management support from the shareholder. The shareholder is not named in the filing.
On Oct. 1, the agent responded that the shareholder had refrained from trading BASE shares during the offer period before the extension, but could not go along with the intentions of BASE's executive side, which it said had not seriously considered the disadvantage to the shareholder of restrictions on freely trading BASE shares in connection with the management support. The shareholder also judged that resuming purchases would not harm SBI Holdings' interests and would instead benefit general shareholders, according to the agent. BASE said the wording was reproduced as received.
BASE said it had considered the matter seriously from the standpoint of corporate value and shareholders' common interests, taking into account possible disadvantages to the shareholder, but that a difference of views has arisen between the two sides.
Under the amended schedule, the tender offer period runs through Oct. 15, 2026, for a total of 30 business days. BASE said it will promptly disclose any further matters requiring disclosure.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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