Source disclosure: February 13, 2026
WATT MANN CO.,LTD. [9927.T]
TOKYO, Feb 13 (Reuters) - WATT MANN Co., Ltd. (Code: 9927 Standard), announced today that its board of directors has revised the company's fiscal year 2026 March-end dividend forecast to zero yen per share, effective immediately upon the successful completion of an open tender offer by IAPF3 Corporation. The decision was made during a board meeting held on February 13, 2026.
The revision comes as part of a management buyout (MBO) strategy detailed in a separate press release issued earlier today. The MBO is being conducted by IAPF3 Corporation and involves acquiring all outstanding shares of WATT MANN Co., Ltd. The company’s board supports this tender offer and recommends shareholders participate in it. According to the terms outlined by the buyer, the purchase price reflects the assumption that no dividends will be paid out for the fiscal year ending March 31, 2026.
Prior to this announcement, the company had projected a final dividend payment of 20 yen per share for the fiscal year ending March 31, 2026. This projection was first disclosed on August 14, 2025. However, due to the conditions set forth in the tender offer, the board decided to revise this forecast to reflect a total absence of dividends for the period under consideration.
WATT MANN Co., Ltd.'s commitment to sustainable shareholder value has traditionally included both stable dividends and progressive increases aligned with business growth. Nevertheless, given the specifics of the tender offer from IAPF3 Corporation, which does not include any provision for dividends in its valuation model, the board concluded that suspending the planned dividend payout was necessary. For further details regarding the tender offer and subsequent procedures leading to potential delisting, shareholders are advised to refer to the company's statement released concurrently with this notice.
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