Source disclosure: January 20, 2026
TOIN CORPORATION [7923.T]
TOKYO, Jan 20, 2026 (JCN Newswire via COMTEX) - Toin Corporation (Code Number: 7923, Tokyo Stock Exchange Standard Market), led by President Takahashi Tai, announced on January 20, 2026, that it is making corrections to previously issued information regarding CSRI5 Inc.'s tender offer for its common shares.
The company had initially released statements on December 22 and December 26, 2025, concerning its support of the tender offer and recommendation for shareholders to participate. However, certain sections require revision as noted below. Underlined areas indicate where changes have been made.
Regarding the details of the tender offer, CSRI5 Inc., the bidder, has entered into tender agreements ("tender contracts") with major shareholders including Yamakusa Tatsu, who holds 1,010,417 shares representing 20.07% of the total outstanding shares, his relatives, and other significant stakeholders such as the Toin Kyoei Club, which owns 587,700 shares or 11.68%. Additionally, there are several institutional investors like Artience Co., Ltd., Bandai Namco Holdings Inc., Sumitomo Mitsui Trust Bank, Tokkyo Corp., Komori Corporation, Tsujikawa Co., Ltd., Nichiginkan Co., Ltd., Bunkodo Co., Murata Kinpaku Co., Mitsubishi UFJ Financial Group, Shiroki Holdings Corp., Prince Holding Co., Nippon Paper Pulp & Trading Co., Seiwa Transport Co., Morio Nakao, and Prince Material Co. These entities collectively own 3,324,330 shares, accounting for approximately 66.05% of the total shares.
Under these agreements, all participating shareholders commit to tendering their shares without reservation during the tender period. Notably, some of these agreements include provisions under which obligations may be waived under specified conditions. Detailed terms can be found in section "Important Agreements Related to the Tender Offer" mentioned later in this announcement.
Furthermore, shareholders who are also members of the Toin Kyoei Club have agreed not only to tender their shares but also to facilitate any necessary procedures for the club's participation, including potential amendments to its regulations. Should the club fail to complete the required procedures, these shareholders will withdraw from the club and tender their individual holdings directly. The list includes companies like Artience Co., Ltd., Tokkyo Corp., Komori Corporation, Tsujikawa Co., Ltd., Bunkodo Co., Murata Kinpaku Co., Shiroki Holdings Corp., Prince Holding Co., Nippon Paper Pulp & Trading Co., Seiwa Transport Co., and Prince Material Co., whose combined shareholdings through the Toin Kyoei Club represent about 11.68%.
This comprehensive agreement ensures a high level of commitment among key stakeholders towards the successful completion of the tender process. The detailed breakdown of each shareholder's contribution further underscores the substantial backing behind the tender offer.
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