Kakaku.com's path to going private is taking longer, but not getting sweeter. Kamgras 1 has extended its tender offer to July 16 from July 2, taking the acceptance window to 47 business days from 37. The price stays at ¥3,000 per common share, and the minimum condition is unchanged at 34,941,000 shares, equivalent to 17.51 per cent. The bidder says that if tenders stay below that floor, it will buy nothing.
In the revised notice, Kakaku.com says the bidder made the change after considering the market price of Kakaku.com's shares, the acceptance status of shareholders and holders of stock acquisition rights, and the outlook for further tenders. The stated aim is twofold: give investors more time to decide and raise the likelihood that the offer succeeds. The filing also repeats that 47 business days is longer than the 20-business-day statutory minimum, which the bidder says preserves both decision time and the opportunity for a competing offer.
| Step | Previous timing | Revised timing |
|---|---|---|
| Tender-offer period | May 13 to July 2, 2026 (37 business days) | May 13 to July 16, 2026 (47 business days) |
| Extraordinary shareholders meeting for share consolidation | Early September 2026 | Mid-September 2026 |
| Squeeze-out step | Late September 2026 | Early October 2026 |
| Funding and capital reduction for planned self-share acquisition | Mid-October 2026 | Late October 2026 |
| Planned self-share acquisition | Late October 2026 | Early November 2026 |
| Reinvestment after self-share acquisition | Late October 2026 onward | Early November 2026 onward |
The bigger practical point for deal watchers is the calendar. Kakaku.com's revised timetable now puts the extraordinary shareholders meeting needed for a share-consolidation squeeze-out in mid-September rather than early September, assuming that step is still required after the tender offer. The squeeze-out itself moves to early October from late September, while later funding, capital-reduction, self-share acquisition and reinvestment steps slide into late October and early November.
The filing says that if Kamgras 1 cannot acquire all of the relevant shares and stock acquisition rights through the tender offer, it plans to ask Kakaku.com to convene that extraordinary meeting and put the share-consolidation resolutions to a vote. Kakaku.com says it expects to comply if asked. In other words, July 16 is the new decision deadline, not the end of the transaction process.
What has not changed matters too. The bidder still has no upper purchase limit because its stated goal is to take Kakaku.com private, but the unchanged minimum threshold means the deal can still fail at the acceptance stage. For readers tracking timing rather than suspense, the new filing is mostly a calendar reset: same ¥3,000 price, later end date, and more autumn paperwork if the offer succeeds.