SBINM G.K., a unit of SBI Holdings, Inc., extended its ¥340-per-share tender offer for BASE, Inc. (4477) to Oct. 21, 2026, for a total of 34 business days, after major shareholder Hiroyuki Maki notified BASE he would resume buying its shares with the aim of holding more than 30%.
The tender offer by SBINM G.K., a wholly owned subsidiary of SBI Holdings, began on Aug. 31, 2026, and aims to make BASE an equity-method affiliate. Only the offer period has changed; the price and the maximum number of shares to be purchased are unchanged, and there is no minimum.
According to the filing, BASE informed the offeror on Oct. 1 that it had received notice from Maki that he would resume purchases of BASE shares targeting a holding ratio above 30%. The offeror then filed an amended tender offer registration statement and on Oct. 6 extended the period to Oct. 21, the day on which 10 business days will have elapsed from the amendment's filing date.
| Item | Before | After |
|---|---|---|
| Offer period | Aug. 31-Oct. 15, 2026 | Aug. 31-Oct. 21, 2026 |
| Business days | 30 | 34 |
| Offer price | ¥340 per share | ¥340 per share |
| Maximum shares | 23,792,300 | 23,792,300 |
It is the second extension. The offeror initially set the period at the statutory minimum of 20 business days and lengthened it to 30 business days on Sept. 30 to give shareholders more opportunity to decide. As of Oct. 6, the offeror has no plans to change any other terms. It said the offer does not seek to take BASE private and does not hinder competing bids, so the 34-day period does not undermine the measures ensuring the offer's fairness.
BASE's board maintains its opinion supporting the offer while leaving the decision on whether to tender to shareholders. BASE also signed a capital and business alliance agreement with SBI Holdings, first announced on Aug. 28, 2026.
The tender offer period ends on Wednesday, Oct. 21, 2026.
| 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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