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Japan Tender Offer (TOB) Tracker — English Translations

Every filing translated to English from TDNet, Japan's official corporate disclosure platform.
310
Articles Translated
109
Companies Covered
May 14, 2026
Latest Filing
Typically <5 min
To English
All Tender Offers Filings
Regulatory Change: May 2026 TOB Threshold

Japan's mandatory tender offer threshold drops from 33.33% to 30% of outstanding shares on May 27, 2026. Any on- or off-market acquisition that pushes ownership above 30% will require a public tender offer. This page tracks all TOB-related filings as they are published on TDNet.

Frequently Asked Questions

What is a tender offer (TOB) in Japan?

A tender offer (公開買付け / koukai kaitsuke, commonly abbreviated TOB) is a public offer to purchase shares of a listed company. Under Japanese law, acquisitions exceeding specified ownership thresholds must be conducted through a formal tender offer process regulated by the Financial Instruments and Exchange Act.

What is changing about Japan's TOB rules in 2026?

Effective May 27, 2026, Japan's mandatory tender offer threshold drops from 33.33% to 30%. This means any acquisition — on-market or off-market — that would bring the acquirer's ownership above 30% will trigger a mandatory tender offer. The change is expected to increase the number of TOB filings.

Where can I read Japanese tender offer filings in English?

Pulse News Wire translates all tender offer-related TDNet filings to English, typically within 5 minutes of publication. Each translation links to the archived original Japanese PDF.

How are tender offers disclosed on TDNet?

Companies involved in tender offers file multiple disclosure documents on TDNet: the initial TOB announcement, the target company's opinion, any revised terms, and the final results. Pulse News Wire translates all of these filings.

What is the current tender offer threshold in Japan?

As of March 2026, the mandatory tender offer threshold is 33.33% (one-third) of outstanding shares. This will drop to 30% on May 27, 2026.