Source disclosure: February 18, 2026
INFORICH INC. [9338.T]
TOKYO — Inforich Inc., represented by its President and Group CEO Hiroshige Akiyama (code: 9338 on the Tokyo Stock Exchange's Growth Market), announced corrections to information previously disclosed regarding its management buyout (MBO) tender offer and recommendation to shareholders. The company made these clarifications following an announcement released on February 13, 2026.
The corrections primarily concern the pricing of subscription warrants issued during various board meetings held between March 15, 2019, and October 13, 2022. Specifically, the price for the eighth issuance of subscription warrants was corrected from 62,440 yen per warrant to 62,400 yen per warrant. All other prices remain unchanged as initially stated. These adjustments reflect minor discrepancies identified after the initial disclosure, ensuring accuracy in the tender offer process.
In addition to the pricing correction, Inforich provided further context on the decision-making process leading up to the MBO tender offer. On February 11, 2026, the special committee requested higher bid prices based on the intrinsic value of the company and anticipated future benefits from executing this transaction. Following negotiations, Bain Capital proposed a final purchase price of 4,560 yen per share, representing a premium of 125.41% over the closing price of 2,023 yen on the day before the proposal date. This price also reflects premiums relative to average closing prices over recent periods, including a 143.46% increase compared to the simple average closing price over one month prior.
On February 13, 2026, after receiving approval from the special committee, Bain Capital finalized the terms of the tender offer with Hiroshige Akiyama, the company’s representative director. The agreement includes the purchase price of 4,560 yen per share and corresponding values for each type of subscription warrant. This comprehensive package aims to ensure fair compensation for all stakeholders involved in the MBO process.
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