Kakaku.com filed the seventh correction to its opinion statement on the company's go-private tender offer on August 31, addressed to the Kanto Local Finance Bureau. The document, formally an amended report on a tender offer opinion, updates two numbers that shareholders have watched climb through the summer: the price per common share rises from ¥3,570 to ¥3,571, and the offer period stretches from August 27 to September 10, 2026, for a total of 85 business days.
The increase looks trivial on its face, one yen on a bid already above ¥3,500, but the filing frames it as a confidence play. The consortium behind bidding vehicle Kamgras 1 Kabushiki Kaisha, backed by EQT, says it raised the price and extended the window "to offer shareholders a more attractive opportunity to sell and to raise the probability the tender offer succeeds," after weighing Kakaku.com's market price and how tender applications were trending following an August 21 update.
| Date of change | New price per share | New offer end date | Total business days |
|---|---|---|---|
| July 17, 2026 | ¥3,450 | Not stated in this filing | - |
| August 13, 2026 | ¥3,570 | August 27, 2026 | 75 |
| August 27, 2026 | ¥3,571 | September 10, 2026 | 85 |
The price has moved three times since a July 1 proposal at ¥3,384: to ¥3,450 on July 17, to ¥3,570 on August 13, and now to ¥3,571 on August 27. The consortium argues the ¥3,570 figure already topped the ¥3,520 it considered achievable under a rival July 29 counter-proposal, and that a ¥3,640 price floated in that counter-proposal was contingent on a non-tender agreement with KDDI that the bidder does not believe is realistic.
The Oasis pledge is gone. The filing discloses that a tender agreement between the proposer and shareholder Oasis terminated on August 20, 2026. That agreement had let Oasis walk away from its pledge to tender if a rival bid topped the offer price by 1% or more and the proposer failed to match it within five business days of Oasis's request. After the August 13 price change, the proposer did not seek to revise its price within that five-day window, so the agreement lapsed automatically. The consortium says it remains in talks with Oasis about tendering into the current offer, but "nothing has been decided at this point".
Knock-on adjustments. The planned post-squeeze-out buyback price for shareholders who do not tender rises in step, from ¥2,902 to ¥2,903 per pre-consolidation share, designed to leave non-tendering holders with roughly the same after-tax proceeds as those who sell into the offer. Digital Garage's planned reinvestment into the offeror's parent company, or another wholly owned parent company the offeror designates, will now be valued at the new ¥3,571 tender price, with Digital Garage expected to end up holding about 20% of that company's voting rights.
The knock-on effect reaches deep into the deal calendar. Completion of the tender offer moves from September 3 to September 17; the squeeze-out shifts from mid-November to late November; and the cash for the share buyback and Digital Garage's reinvestment now lands in mid-December rather than late November. The special shareholder meeting to approve the share consolidation, previously penciled in for mid-October, is now expected in late October. This is the seventh correction to an opinion statement first filed May 13, a run of amendments that tracks how contested the price has become since Kakaku.com's board first endorsed the deal.