Source disclosure: January 08, 2026
SUNDAY CO.,LTD. [7450.T]
TOKYO — Sunday Co., Ltd. announced on January 8 that its board of directors has endorsed and recommended to shareholders the tender offer initiated by its parent company, AEON Corporation (code 7450, Tokyo Stock Exchange Standard Market). The board also advised against shareholders exercising their subscription rights warrants in response to this tender offer.
The decision was made during a board meeting held today, where the directors resolved to support the public offering by AEON Corporation aimed at acquiring all outstanding shares and subscription rights warrants of Sunday Co. The tender offer is part of a broader strategy by AEON Corporation to delist Sunday Co. from the stock exchange, which will result in the company becoming non-publicly traded.
AEON Corporation, established on September 21, 1926, operates primarily as a retailer and developer, managing businesses through ownership stakes in various companies. As of August 31, 2025, AEON Corporation's capital amounted to ¥220,007 million. Currently, AEON holds 8,288,620 shares of Sunday Co., representing a 76.70% stake, making it the controlling shareholder. Additionally, one out of eight members of Sunday Co.'s board serves concurrently as an executive officer in a subsidiary of AEON Corporation. Furthermore, five employees from the AEON group were seconded to Sunday Co. as of December 31, 2025.
Regarding the terms of the tender offer, AEON Corporation proposes to purchase each ordinary share of Sunday Co. for ¥1,280 per share. For the subscription rights warrants, AEON offers ¥1 per warrant regardless of the issue date ranging from May 16, 2012, to April 12, 2023. These warrants have exercise periods extending until June 9, 2038. Notably, there are 229 outstanding warrants corresponding to 22,900 shares of Sunday Co.
In endorsing the tender offer, the board cited several factors including the strategic alignment between Sunday Co. and AEON Corporation, the fair valuation offered by AEON, and the potential benefits of enhanced operational efficiency under unified management. However, the board did not recommend the exercise of subscription rights warrants due to their minimal value compared to the proposed acquisition price for ordinary shares. This recommendation was based on ensuring fairness and protecting the interests of all stakeholders involved.
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