Storage-Oh (2997), listed on the Tokyo Stock Exchange Growth market, will hold an extraordinary shareholders' meeting on Nov. 16, 2026 to vote on a share consolidation that would complete its takeover by 84.15% owner AreaLink, with its shares scheduled to be delisted on Dec. 16.
AreaLink conducted a tender offer for all of Storage-Oh's shares and stock acquisition rights from July 9 to Aug. 21, 2026, aiming to make the company a wholly owned subsidiary. Upon settlement on Aug. 28, AreaLink held 1,630,384 shares, or 84.15% of a base of 1,937,500 shares comprising 1,891,500 issued shares and 46,000 shares underlying outstanding stock acquisition rights. It became Storage-Oh's parent company and largest shareholder.
Storage-Oh's board resolved on Oct. 19 to convene the meeting, which will vote on the share consolidation and a partial amendment to the articles of incorporation, including abolition of the share unit provision, as the squeeze-out step following the tender offer.
According to the filing, AreaLink submitted a non-binding letter of intent on April 14. Storage-Oh set up a four-member special committee and appointed Plutus Consulting as financial adviser and third-party valuator and City-Yuwa Partners as legal counsel. AreaLink's per-share proposals were:
| Proposal date | Price per share |
|---|---|
| May 27 | ¥1,255 |
| June 2 | ¥1,290 |
| June 8 | ¥1,310 |
| June 15 | ¥1,325 |
Storage-Oh and the committee asked AreaLink to reconsider each of the first three proposals as insufficient for shareholders. On June 16, they told AreaLink the premium in the fourth proposal fell below the average for comparable deals across all reference periods.
The meeting will be held at 10 a.m. on Nov. 16 in Ichikawa, Chiba Prefecture. The shares will be designated as securities to be delisted from Nov. 16 to Dec. 15 and delisted on Dec. 16, after which they can no longer be traded on the TSE Growth market.
| 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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