Worth reading
77Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
7873
¥ millionWording
Conditional
How definitive the wording is.This transaction
This tender offerCounterpartyDaido Steel Co.,Ltd.
Disclosing companyDaido Steel Co.,Ltd.
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
Manufacture, processing and sale of various specialty steel products
Location Taihaku-ku, Sendai, Miyagi PrefectureShare capital ¥827.5 millionDate of incorporation 20 April 1937
Net Sales¥20,931 million (fiscal year ended March 2026)
Operating profit¥1,418 million (fiscal year ended March 2026)
Net income for the current fiscal year¥1,275 million (fiscal year ended March 2026)
Net assets¥29,465 million (fiscal year ended March 2026)
Consideration and expenses
Acquisition price¥7,873 million
Type of ConsiderationCash
Tender offer price¥4,491 per common share
Minimum number of shares to be purchasedNone set
Tender offer period18 May 2026 to 29 June 2026 (31 business days)
Impact on Business Performance
The impact of the change in subsidiary status resulting from this tender offer on the current fiscal year's earnings forecast is currently being assessed.
| Item | Details |
|---|---|
| Transaction name | This tender offer |
| Counterparty name | Daido Steel Co.,Ltd. |
| Name of the Subject Company | Tohoku Steel Co.,Ltd. |
| Business Description of the Subject Company | Manufacture, processing and sale of various specialty steel products |
| Location of the Subject Company | Taihaku-ku, Sendai, Miyagi Prefecture |
| Capital Stock of the Subject Company | ¥827.5 million |
| Date of Establishment of the Subject Company | 20 April 1937 |
| Net Sales of the Subject Company | ¥20,931 million (fiscal year ended March 2026) |
| Operating Profit of the Subject Company | ¥1,418 million (fiscal year ended March 2026) |
| Net Income of the Subject Company | ¥1,275 million (fiscal year ended March 2026) |
| Net Assets of the Subject Company | ¥29,465 million (fiscal year ended March 2026) |
| Acquisition price | ¥7,873 million |
| Type of Consideration | Cash |
| Tender offer price | ¥4,491 per common share |
| Minimum number of shares to be purchased | None set |
| Tender offer period | 18 May 2026 to 29 June 2026 (31 business days) |
| Number of shares acquired | 1,753,204 shares (number of voting rights: 17,532) |
| Voting rights ownership percentage | Before 34.32％ → after 57.93％ |
| Impact on Business Performance | The impact of the change in subsidiary status resulting from this tender offer on the current fiscal year's earnings forecast is currently being assessed. |
| Date of board resolution | 15 May 2026 |
| Execution Date / Effective Date | 6 July 2026 (scheduled; the commencement date for settlement of this tender offer) |
Items this document does not state (11)
Expenses other than the acquisition priceMerger ratio/share exchange ratioFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Contract DateValuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to ExecutionManagement structure after acquisition
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.This document does not explain the specific strategic rationale for conducting the tender offer and states that there has been no change from the information disclosed when the tender offer was announced on 15 May 2026.
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