Source disclosure: January 16, 2026
Makino Milling Machine Co., Ltd. [6135.T]
TOKYO — Makino Milling Machine Co., Ltd., represented by President Masataro Miyazaki and listed on the Tokyo Stock Exchange Prime Market under code number 6135, has provided an update regarding the progress towards MM Holdings Corporation's tender offer for its shares. The company disclosed this information through a press release dated January 16, 2026.
In a previous announcement made on June 3, 2025, Makino had indicated that MM Holdings intended to commence a public tender offer aimed at acquiring all ordinary shares of Makino (excluding self-held shares), subject to certain conditions including regulatory clearances both domestically and internationally. Initially, the company anticipated commencing the tender offer by early December 2025. However, as of January 16, 2026, these timelines have been extended due to ongoing regulatory processes.
As reported earlier on December 12, 2025, several jurisdictions still required clearance before the tender could proceed fully. By January 16, 2026, Italy and France had completed their respective investment regulation clearances. For other regions such as China, Japan, and the United States, the expected completion times were updated. Specifically, the U.S. Investment Regulation Clearance is now projected to be completed by mid-March 2026, while Chinese competition law clearance is anticipated by late January 2026. In Japan, the process is estimated to conclude around mid-February 2026.
The company also noted that based on current projections, the tender offer will not begin until after January 16, 2026. According to the terms of the tender agreement signed between Makino and MM Holdings on June 3, 2025, failure to initiate the tender offer by January 16, 2026, would constitute grounds for contract termination. As of January 16, 2026, however, no such action has been taken, and the agreement remains valid.
Makino expressed regret over the delays from the initially announced schedule and acknowledged any concerns raised among shareholders, business partners, employees, and other stakeholders. Should there be further developments related to the commencement of the tender offer, the company pledged to provide timely updates.
Additionally, the company emphasized that this document does not serve as an invitation to sell securities but rather as a general disclosure about the tender offer. Shareholders are advised to consult the official tender offer prospectus before making any decisions. Furthermore, it was highlighted that the procedures and standards followed during the tender offer may differ from those stipulated under U.S. regulations, particularly concerning the Securities Exchange Act of 1934. All financial data included herein adheres to Japanese accounting principles and may not align precisely with U.S. standards.
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