Source disclosure: February 04, 2026
Medical Data Vision Co., Ltd. [3902.T]
TOKYO, Feb 4 (Reuters) - Medical Data Vision Co., Ltd., represented by President Hiroshi Iwasaki and listed on the Tokyo Stock Exchange Prime Market under code number 3902, announced today that Japan Life Insurance Mutual has completed its tender offer for the company's common stock and new subscription rights warrants. The tender offer, which began on December 16, 2025, concluded on February 3, 2026.
According to the report received from Japan Life Insurance Mutual, the total number of shares and warrants tendered exceeded the minimum threshold of 11,674,800 units. As a result, the tender offer was successful, and Japan Life Insurance Mutual will acquire all submitted securities. This acquisition is expected to take place on February 9, 2026, marking the start of settlement for the tender offer.
The completion of this tender offer will significantly alter the ownership structure of Medical Data Vision. On February 9, 2026, Japan Life Insurance Mutual’s shareholding ratio is projected to reach 52.34%, thereby making it both the parent company and the largest shareholder of Medical Data Vision. Consequently, SBI Holdings Inc., currently the largest shareholder, will no longer hold the position as the top shareholder after the transaction.
Japan Life Insurance Mutual, headquartered in Osaka, is led by Representative Director and CEO Masashi Asahi. With a capital fund of 145 billion yen, the company operates primarily in life insurance services. In contrast, SBI Holdings Inc., located in Tokyo and headed by Chairman and CEO Yoshitaka Kitao, specializes in managing and operating an enterprise group through equity holdings. Prior to the tender offer, SBI Holdings held approximately 37.81% of Medical Data Vision's voting rights based on 14,507,214 shares directly owned.
Following the tender offer, Japan Life Insurance Mutual will own 20,082,496 shares, representing 52.34% of the voting rights, while SBI Holdings' stake remains unchanged at 14,507,214 shares but drops to second place in terms of voting power. The changes reflect a significant shift in control over Medical Data Vision, with implications for future strategic direction and governance.
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