Mergers, tender offers, buyouts and asset sales involving Japanese companies, in English.
Directors at Sankei Real Estate Investment Corporation have endorsed City Index Fifth's ¥125,000-per-unit tender offer for the Tokyo-listed REIT, the same price a rival bid failed to clear in May, while leaving unitholders to decide for themselves whether to sell.
Sandbox K.K., a holding company owned outright by Digital Hearts Holdings' chairman, is set to cross 50% of voting rights after shareholders tendered nearly double the required minimum, and the chairman and his vehicle now plan to squeeze out remaining holders before delisting the stock from the Tokyo Stock Exchange's Prime market.
Dentsu Group has agreed not to tender its 61.76% founding stake in Dentsu Soken to VIC's planned November tender offer, backing a squeeze-out that would take the IT consultancy private with Itochu Corporation as the bidder's parent.
The Tokyo office REIT signed August 21 deals to sell an Odaiba tower for ¥10.7bn and a Sapporo building to Kajima Construction for ¥4.8bn, as its debt-service coverage ratio falls to 8.8 times from 10.0 times the prior half-year.
Japan's consumer-health group says affiliates of buyout firms NSSK and CVC Capital Partners have made a non-binding joint proposal to take it private, confirming a claim from media reports the company itself never issued.
Septeni Holdings' board approved a planned ¥10.84bn purchase of recruitment-support firm Media House Holdings, aiming for full ownership once two-thirds of shares are gathered, with a squeeze-out covering any holdouts.
KOURAKUEN CORPORATION's board has agreed to buy all shares of a Fukushima sake brewer that is 60% owned by the chain's own chairman, at a price it is keeping confidential, as part of its alcohol-product strategy for a planned new line of station-front restaurants under its mid-term growth plan.
Keisei Electric Railway has agreed to buy all shares of Chiba Nisseki, a Funabashi gas-station and auto-repair operator with about ¥17.8bn in annual sales but just ¥233mn of operating profit, expecting the deal to secure fuel supply within its own group, with the transfer scheduled for October 1, 2026.
KDX Realty Investment Corporation plans to sell a Sapporo care home below book value in its first healthcare-facility disposal, while adding seven properties including two hotels priced well under appraisal, and now expects distributions to rise by up to 5% for the period to April 2027.
A regulatory change report shows Hikari Tsushin and UH Partners 2 will keep their combined 17.70% Leopalace21 stake out of K891's ongoing tender offer while agreeing to back a share consolidation and later buyback designed to leave K891 as the company's sole shareholder.
Gunma Bank shareholders vote December 23 on a share exchange that would hand full ownership to Daishi Hokuetsu Financial Group from April 2027, with a linked charter rewrite taking effect only if the deal does.
Buying two sibling marketing companies for ¥3.61bn has pushed GMO Commerce's sales guidance up 68.5%, but goodwill amortisation and new borrowing costs mean forecast net profit rises only 2.8%, even as a fixed payout formula still points to a higher dividend forecast.
Ichigo Office REIT is selling its last two retail buildings, in Shibuya and Kamata, for as much as 1.8 times their book value, and using an estimated ¥2.5bn in combined gains to lift its per-unit distribution forecast 28% to ¥7,293, completing a pure-play office portfolio of 80 buildings.
Kanematsu Electronics is buying full control of Yokohama's IDAJ, a model-based design and simulation software specialist, for about ¥39.4 billion, a bet that trading-house manufacturing IT can move upstream into engineering design work, even though two of the target's smaller units are lossmaking with negative net worth.
Nissha has handed over half its 60% stake in Vietnamese subsidiary USM HEALTHCARE MEDICAL DEVICES FACTORY to a company director, pulling the unit out of consolidation, while the remaining 10% stays on its books for a planned sale between 2027 and 2028, with the resulting gain or loss still under review.
Saint Marc Holdings will spend ¥12.8bn in cash to acquire the Tsurutontan udon and washoku business from Osaka's K-Express, a Kato Pleasure Group unit whose operating profit fell by more than half last year, and plans to use the brand's inbound following to expand into major Japanese cities and ASEAN markets before the deal takes effect on December 1, 2026.
Japan Metropolitan Fund Investment Corporation sold two commercial ground leases for ¥13.1bn and is funnelling the proceeds through a debt-free vehicle into 17 land leases with percentage-based rents rather than fixed contracts, holding its targeted yield at 4.7%.
Keywest Network's tender offer for Future Corporation has closed with the buyer group at 82.88% of the company, financed largely by a ¥106bn Sumitomo Mitsui Banking Corporation loan secured against the shares themselves, and a share consolidation to force out remaining holders is now planned for late November or early December.
Bain Capital and LINE Yahoo's revised ¥3,597 tender offer for Kakaku.com shares remains below the rival Kamgras 1 bid of ¥3,680, and only a non-tender agreement with KDDI, which would lift the price to ¥3,720, could change that before Kakaku.com's board and special committee decide which offer to back.
Kameda Seika will hand its full 49% stake in a loss-making Indian rice-cracker venture to majority partner LT Foods, ending a nine-year attempt to build the category there, with the sale price undisclosed and completion due in late October.
To comply with a farmland law that bars non-farmers from majority voting control, Fujita Corporation is taking only 40% of the vote in a Hokkaido dairy farm it is buying for about ¥139mn, while non-voting preferred shares hand it 99.4% of the economics.
Under a sponsor agreement signed September 16, Ledax will pay ¥670mn for full ownership of a new company that inherits Harika's roughly 100 stores and 450 corporate clients, while Harika's bank borrowings stay with the renamed original entity and closing is targeted for January 5, 2027.
A September 30 record date sets up a shareholder meeting that would leave just the tender offerer, Sandbox, and Digital Hearts' own chairman holding stock, but only if the takeover bid succeeds.
Amsterdam1 and Amsterdam2 raised their tender offer for Japan Property Management Center to ¥2,270 a share on September 14, but cut the shares they plan to buy and lowered the acceptance minimum after agreeing that Hikari Tsushin group shareholders, holding 9.93% of the company, would sit the tender out entirely, with 8.69% of that stake later sold to JPMC as treasury stock through a related entity.