Worth reading
57In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
52988866
Shares (maximum number of shares to be purchased)Wording
Conditional
How definitive the wording is.This transaction
This tender offerCounterparty合同会社キーウェスト・ネットワーク
Disclosing companyFuture Corporation
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
Location Japan
Consideration and expenses
Acquisition priceTotal amount: Not disclosed (tender offer price: ¥2,451 per common share)
Type of ConsiderationCash
Tender offer price¥2,451 per common share
Minimum number of shares to be purchased23,376,700 shares
Tender offer period30 July 2026 (Thursday) to 10 September 2026 (Thursday) (30 business days)
Procedures and assumptions
Conditions Precedent to ExecutionThe tender offer must be successfully completed. The minimum number of shares to be purchased is 23,376,700.
Management structure after acquisitionKanemaru Yasufumi (金丸恭文) is expected to continue managing the company after the transaction as Representative Director and Chairman, as he does currently. No agreements have been reached regarding the appointment of any other officers, and the details of the management structure are expected to be determined through discussions with the target company after the transaction. Following the successful completion of the tender offer and by the settlement commencement date, the bidder plans to change its corporate form from a limited liability company to a joint-stock company.
| Item | Details |
|---|---|
| Transaction name | This tender offer |
| Counterparty name | 合同会社キーウェスト・ネットワーク |
| Name of the Subject Company | Future Corporation |
| Location of the Subject Company | Japan |
| Acquisition price | Total amount: Not disclosed (tender offer price: ¥2,451 per common share) |
| Type of Consideration | Cash |
| Tender offer price | ¥2,451 per common share |
| Minimum number of shares to be purchased | 23,376,700 shares |
| Tender offer period | 30 July 2026 (Thursday) to 10 September 2026 (Thursday) (30 business days) |
| Number of shares acquired | Planned purchase of 52,988,866 shares (voting rights: Not disclosed) |
| Voting rights ownership percentage | Before 34.02% (after not disclosed) |
| Date of board resolution | 29 July 2026 |
| Contract Date | 29 July 2026 |
| Execution Date / Effective Date | 17 September 2026 (Thursday) (settlement commencement date) |
| Conditions Precedent to Execution | The tender offer must be successfully completed. The minimum number of shares to be purchased is 23,376,700. |
| Management structure after acquisition | Kanemaru Yasufumi (金丸恭文) is expected to continue managing the company after the transaction as Representative Director and Chairman, as he does currently. No agreements have been reached regarding the appointment of any other officers, and the details of the management structure are expected to be determined through discussions with the target company after the transaction. Following the successful completion of the tender offer and by the settlement commencement date, the bidder plans to change its corporate form from a limited liability company to a joint-stock company. |
Items this document does not state (16)
Business Description of the Subject CompanyCapital Stock of the Subject CompanyDate of Establishment of the Subject CompanyNet Sales of the Subject CompanyOperating Profit of the Subject CompanyNet Income of the Subject CompanyNet Assets of the Subject CompanyExpenses other than the acquisition priceMerger ratio/share exchange ratioFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Impact on Business PerformanceValuation methodologyIndependent valuation institutionSpecial Committee
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To take the target company's shares private, enable Kanemaru Yasufumi (金丸恭文) to continue managing the company as Representative Director and Chairman after the transaction, and enhance the corporate value of the target group over the medium to long term.
How to read this page
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