MP-2606's tender offer for SHARINGTECHNOLOGY INC. (ticker 3989) succeeded. Holders tendered 21,614,921 shares, above the offer's minimum of 16,030,200, and because the offer carried no upper limit, MP-2606 will buy all of them. The offer ran from 10 September to 27 October, 30 business days, at ¥1,550 a share and ¥1 for each of the two series of stock acquisition rights. Earlier Tokyo Brief coverage
What the stake becomes
On settlement, MP-2606 will hold 216,149 voting rights, or 85.74%, up from nothing. That percentage is measured against 252,112 voting rights. The base is built from the 24,429,800 issued shares at 30 June, less 498,532 treasury shares, plus the 1,280,000 shares behind the 12,800 outstanding acquisition rights. It is not measured against the 239,178 voting rights reported at 31 March.
Settlement begins on 4 November. Only then, if it proceeds, does MP-2606 cross 50% of the voting rights and become SHARINGTECHNOLOGY's parent and largest shareholder, the point at which the company says the change takes effect. SHARINGTECHNOLOGY filed an extraordinary report on 28 October covering the change in parent and major shareholder. The payment agent is SMBC Nikko Securities.
AVI exits as a major shareholder
Asset Value Investors Limited (AVI), previously the largest shareholder with 70,787 voting rights, or 28.08%, will no longer be a major shareholder after settlement. SHARINGTECHNOLOGY says the buyer reported that it will acquire all 7,078,700 shares held by AVI Japan Opportunity Trust Plc and AVI Japanese Special Situations Fund, which AVI manages.
Who owns the buyer
MP-2606 was set up on 11 June 2026 with capital of ¥5,000, and its stated business is acquiring and holding SHARINGTECHNOLOGY shares to control and manage the company. MBK Partners JC V, L.P. owns 86.93% of it and Hippo Finance Limited owns 13.07%. SHARINGTECHNOLOGY's notice records no capital, personnel or business relationship between the buyer and the company.
What is left to do
MP-2606 did not obtain all of the shares, so it plans a series of procedures to make itself the only shareholder and SHARINGTECHNOLOGY a wholly owned subsidiary. Once those are carried out, the shares will be delisted from the Tokyo Stock Exchange Growth market under its delisting criteria, after the prescribed steps, and can no longer be traded there. SHARINGTECHNOLOGY says the specific steps and timing will be announced once decided, after consultation with the buyer.