TX1 Co., which is conducting a tender offer for Project Holdings Inc. (9246), said the 30-day waiting period under Japan's Foreign Exchange and Foreign Trade Act was shortened on Oct. 5, 2026, allowing it to acquire the target's common shares from Oct. 6, and filed an amended tender offer registration statement on Oct. 9.
TX1 notified the Minister of Finance and the relevant business-jurisdiction ministers through the Bank of Japan on Sept. 18, 2026, under Articles 27(1) and 28(1) of the Foreign Exchange and Foreign Trade Act, and the notification was accepted the same day. The law requires a 30-day waiting period after acceptance before the acquirer can buy the shares.
The waiting period was shortened under the proviso to Article 27(2) of the act, with the approval dated Oct. 5 and numbered JD No. 1161. TX1 accordingly filed an amendment with the Director-General of the Kanto Local Finance Bureau under Article 27-8(2) of the Financial Instruments and Exchange Act, revising its Sept. 29 tender offer registration statement, which had already been amended on Oct. 6, and adding related attachments.
Before the change, the filing said the waiting period could be extended to up to five months if the investment were deemed to involve national security, and that the ministers could recommend changes to or suspension of the investment, in which case TX1 might withdraw the offer. The revision is limited to the foreign exchange law section under Other in the Sept. 28 tender offer announcement.
| Date | Event |
|---|---|
| Sept. 18, 2026 | Forex law notification accepted |
| Sept. 28, 2026 | Tender offer announced |
| Sept. 29, 2026 | Registration statement filed |
| Oct. 5, 2026 | Waiting period shortened |
| Oct. 6, 2026 | Share acquisition permitted; earlier amendment filed |
| Oct. 9, 2026 | Latest amendment filed |
Project Holdings, listed on the Tokyo Stock Exchange Growth market, published the release at TX1's request under Article 30(1)(iv) of the Enforcement Order of the Financial Instruments and Exchange Act.
| 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 |
Summaries of public disclosures by Japanese listed companies. Not investment advice; accuracy not guaranteed. Figures and dates in the TDnet originals prevail.
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