Kakaku.com's board has filed a third correction to the formal opinion it issued on the tender offer that would take the Tokyo-listed internet services company private, and the terms it restates leave the ¥3,000-a-share price and the deal's completion threshold untouched.
What the correction confirms
The filing, submitted to the Kanto Local Finance Bureau on July 6, 2026, corrects the position-statement report Kakaku.com originally filed under document ID S100Y3PH. The correction looks like a documentation fix rather than a change to deal economics: the filing marks its structured XBRL data as unchanged even though the report text itself is flagged as amended, and every commercial term in this version matches what bidder Kamgras 1 K.K. set when the offer opened.
The buyer's offer
Kamgras 1, registered at Azabudai Hills Mori JP Tower in Tokyo's Minato Ward, is buying Kakaku.com's common shares at ¥3,000 apiece and all eleven series of the company's outstanding stock acquisition rights, issued between 2016 and 2025, at ¥1 each. The offer runs from May 13 to July 16, 2026, 47 business days in total, and this correction lands with ten days left on the clock.
| Term | Detail |
|---|---|
| Price per common share | ¥3,000 |
| Price per stock acquisition right | ¥1 each (11 series, issued 2016-2025) |
| Tender offer period | May 13 to July 16, 2026 (47 business days) |
| Minimum purchase threshold | 34,941,000 shares |
| Maximum purchase cap | None; all validly tendered shares will be purchased |
| Resulting floor ownership stake | 17.51% of voting rights, including related parties, at the minimum threshold |
A floor, not a finish line
Kamgras 1 set a minimum purchase condition of 34,941,000 shares. If that threshold is met and not one share more, the bidder's post-deal stake, including shares held by parties acting in concert with it, would sit at 17.51% of Kakaku.com's voting rights, calculated against a base of 199,552,867 shares and 1,995,528 voting units. That is a floor, not a target: the offer sets no maximum on how many shares Kamgras 1 will buy, so every share tendered above the minimum adds to its final stake. The filing does not say what stake the bidder expects to end up with, or how a sub-20% floor squares with a stated purpose of taking Kakaku.com fully private; that likely depends on commitments from other shareholders that this document does not disclose.
What's left
The tender offer closes July 16, 2026. Kakaku.com's contact for the filing is Shinichi Kasuya, the company's director, senior managing executive officer and CFO. Holders of common shares or any of the eleven stock acquisition right series have until then to decide whether to tender at the stated prices.