Storage-Oh Co., Ltd. (TSE Growth: 2997), a Tokyo-area self-storage operator, filed a formal statement of opinion on July 9 telling shareholders to take the money. The board voted unanimously the day before to back a tender offer from rival storage operator Arealink Co., Ltd. (TSE Standard) and to recommend that shareholders and holders of stock acquisition rights tender their holdings.
Arealink is paying ¥1,340 per common share in cash, a 42.25% premium over Storage-Oh's ¥942 closing price on July 7, the last trading day before the announcement. It has also priced Storage-Oh's outstanding stock acquisition rights at ¥550,000 per unit for warrants issued in 2019 and ¥350,000 per unit for those issued in 2020.
The tender window runs from July 9 to August 21, 2026, thirty business days. Arealink set a minimum acceptance threshold of 1,291,700 shares, equal to 66.67% of Storage-Oh's shares, but no upper limit: it wants every share. Shareholders controlling a combined 38.22% of the company, led by top holder K.L.I. Co., Ltd. and former parent Develop Co., Ltd., have already agreed to tender.
If the offer clears but Arealink still cannot buy out every remaining holder, the filing sets out a squeeze-out, through share consolidation or a mandatory buyout, to take Storage-Oh fully private and off the Tokyo Stock Exchange's Growth market. This is Storage-Oh's first submission of the opinion report, filed with the Kanto Local Finance Bureau on July 9, 2026, according to the filing's English-language summary.