Taiyo Holdings (4626) said on Oct. 9 that the planned tender offer for its shares by KJ005 is now targeted to launch around late November 2026, pushed back from an earlier aim of early October, as China competition-law and Japan investment-regulation procedures remain incomplete.
Taiyo Holdings said on March 31, 2026, that it supported the planned offer and would remain neutral on whether shareholders should tender. KJ005 said at the time it would launch the offer promptly once conditions were met or waived, including completion of procedures under competition laws in Japan, China, Taiwan, Germany, South Korea, Spain, Israel, Tunisia and Vietnam, and under investment regulations in Japan and the U.S. It had aimed to launch around early October 2026.
As of Oct. 9, the status of the procedures was:
| Item | Status |
|---|---|
| Competition law: Japan, Taiwan, Germany, Tunisia, Vietnam | Completed |
| Investment regulation: U.S. | Completed |
| Competition law: China | Not completed |
| Investment regulation: Japan | Not completed |
KJ005 said that, after further consultation with local law firms since March, it confirmed that no competition-law procedures are required in Spain and Israel, and that South Korea requires a post-closing rather than a pre-closing procedure. It has therefore not made pre-closing filings in those three countries.
KJ005 said it plans to launch the offer once the procedures are completed, or are reasonably expected to be completed, and the conditions for launch are in place.
Next steps: KJ005 aims to complete the remaining procedures within November 2026 and to launch the tender offer around late November 2026. The companies said they will announce promptly when the offer launches or if the expected launch timing changes.
| 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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