Arealink Co.,Ltd. (TSE: 8914), which runs its own storage, land-rights development and asset-management businesses, said it bought every one of the 1,630,384 shares and warrant-equivalent rights tendered in its takeover bid for STORAGE-OH Co.,Ltd. (TSE: 2997), a self-storage operator listed on the Tokyo Stock Exchange's Growth market. The purchase lifts Arealink's voting stake in Storage-Oh to 84.14%. The offer ran for 30 business days, from July 9 to August 21, 2026, and cleared comfortably past the 1,291,700-share minimum Arealink had set as a condition for going ahead.
| Metric | Detail |
|---|---|
| Tender offer period | July 9 – August 21, 2026 (30 business days) |
| Shares and rights tendered | 1,630,384 total (1,584,384 common shares plus 46,000 share-equivalent rights) |
| Minimum condition | 1,291,700 shares/rights |
| Post-offer voting stake | 84.14% (16,303 of 19,375 voting rights) |
| Purchase price (common shares) | ¥1,340 per share |
| Total acquisition funds | approx. ¥2.17bn, paid from Arealink's own cash |
| Settlement / parent-company change date | August 28, 2026 |
Of the total tendered, 1,584,384 were common shares and 46,000 were share-equivalents from two series of Storage-Oh stock acquisition rights issued in 2019 and 2020. Arealink paid ¥1,340 a share for the common stock and funded the roughly ¥2.17bn purchase entirely from its own cash, with no borrowing disclosed.
The result triggers a change of parent company at Storage-Oh. Once the tender offer settles on August 28, 2026, Arealink's holding crosses the 50% threshold that defines legal control under Japan's disclosure rules. Storage-Oh's outgoing major shareholder, which held 22.96% of the voting rights, tendered its entire position, dropping to zero.
Arealink's stated purpose for the purchase, filed in its large shareholding report, is to make Storage-Oh a wholly owned subsidiary. To get there, Arealink said it plans to ask Storage-Oh's board to call an extraordinary shareholders meeting to approve a share consolidation under the Companies Act, paired with abolishing the unit-share system once that consolidation takes effect. Arealink said it intends to vote in favor of both proposals when the meeting is convened.