A tender offer by a unit of SBI Holdings, Inc. (8473) for BASE, Inc. (4477) at ¥340 per share closed on Oct. 21, 2026 with 90,944 shares tendered against a maximum of 23,792,300, leaving BASE short of becoming an equity-method affiliate of SBI Holdings as it had sought.
The offer was conducted by SBINM G.K., all of whose interests are owned by SBIER Inc., a wholly owned subsidiary of SBI Holdings that also serves as its representative member. It ran from Aug. 31 to Oct. 21, 2026, a period of 34 business days, with both the planned purchase number and the upper limit set at 23,792,300 shares and no minimum. Because tenders did not exceed the cap, the offeror will buy all shares tendered. The offer terms were amended by public notices dated Sept. 30 and Oct. 6. The two companies announced the result on Oct. 22.
| Item | Figure |
|---|---|
| Offer price | ¥340 per share |
| Offer period | Aug. 31-Oct. 21, 2026 (34 business days) |
| Maximum shares | 23,792,300 |
| Shares tendered | 90,944 |
| Shares purchased | 90,944 |
BASE announced on Aug. 28 that it supported the offer while remaining neutral on whether shareholders should tender, and signed a capital and business alliance agreement with SBI Holdings the same day. BASE said it had considered becoming an equity-method affiliate of SBI Holdings the most appropriate way to achieve the alliance's goals and pursue medium- to long-term collaboration, but the offer result fell short of that. It said it will consider, in consultation with SBI Holdings, how the alliance should be structured, including the capital relationship.
The offer was not intended to delist BASE, and its shares will remain listed on the Tokyo Stock Exchange Growth Market. The result causes no change in BASE's major shareholders, largest major shareholder, other affiliated companies or parent company. BASE said it would promptly disclose any matters requiring announcement, including the offer's impact on its earnings.
| 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.
本站內容為日本上市公司公開開示之摘要整理，非投資建議，亦不保證正確。數字與日程以 TDnet 原文為準。
本サイトは日本の上場企業の適時開示を要約したものであり、投資助言ではありません。正確性は保証しません。数値・日程は TDnet の原文が優先します。