Source disclosure: January 15, 2026
IBIDEN CO.,LTD. [6201.T]
TOKYO — On January 15, 2026, Ibiden Co., Ltd. announced that it has decided to tender all of its ordinary shares in Toyota Automatic Loom Works (Tokyo Stock Exchange Code: 6201; Nagoya Stock Exchange Prime) in response to a public offer initiated by Toyota Asset Preparation Corporation on January 14, 2026.
The decision was made based on a resolution issued under Article 370 of Japan's Companies Act and the company's articles of incorporation. The move follows Toyota Asset Preparation Corporation’s announcement regarding the commencement of an open tender offer for securities held by Toyota Automatic Loom Works. According to Ibiden, this action is expected to result in a special gain from the sale of investment securities amounting to approximately ¥44.1 billion and ¥71 million during the fiscal year ending March 2026.
Ibiden stated that the rationale behind participating in the tender offer stems from its policy of reducing holdings in listed stocks to enhance capital efficiency. This strategy involves evaluating each individual stock holding based on business strategic importance and the strength of relationships with trading partners. In the case of Toyota Automatic Loom Works, Ibiden had maintained a stake as part of its policy to support and strengthen cooperative ties. However, after considering the terms of the tender offer, which includes a purchase price exceeding current market value, Ibiden concluded that accepting the offer would be economically beneficial and align with shareholder interests. Proceeds from the sale will primarily fund Ibiden's ongoing strategic investments aimed at sustainable growth.
Specifically, Ibiden plans to tender 2,763,000 ordinary shares of Toyota Automatic Loom Works, representing the entirety of its holdings. At the proposed acquisition price of ¥18,800 per share, the total transaction value is estimated at approximately ¥51.944 billion. The tender offer period began on January 15, 2026, and is scheduled to conclude on February 12, 2026, spanning a 20-business-day window. If successful, the sale of these shares is anticipated to contribute significantly to Ibiden's financial performance in the fourth quarter of the fiscal year ending March 2026.
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