Worth reading
73In focus
Scored from 2 of 5 sectionsDirection
Deterioration
Direction inferred from the company’s description.Scale
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Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.This transaction
This tender offerCounterpartyMMホールディングス株式会社
Disclosing companyMakino Milling Machine Co.,Ltd.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
Manufacture of high-performance machine tools, as well as possession of related technologies and information
Procedures and assumptions
Conditions Precedent to ExecutionCompletion of the procedures and responses required for obtaining the necessary permits and approvals under domestic and overseas competition laws, investment regulations and other applicable laws and regulations. In this transaction, obtaining clearance under the Foreign Exchange and Foreign Trade Act is a prerequisite
| Item | Details |
|---|---|
| Transaction name | This tender offer |
| Counterparty name | MMホールディングス株式会社 |
| Name of the Subject Company | 株式会社牧野フライス製作所 |
| Business Description of the Subject Company | Manufacture of high-performance machine tools, as well as possession of related technologies and information |
| Number of shares acquired | All common shares, excluding treasury shares held by the Company, are scheduled to be acquired. Number of shares and number of voting rights: Not disclosed |
| Date of board resolution | 23 April 2026 |
| Contract Date | 3 June 2025 |
| Execution Date / Effective Date | Initially expected to be in late June 2026, but the current date of implementation has not been determined |
| Conditions Precedent to Execution | Completion of the procedures and responses required for obtaining the necessary permits and approvals under domestic and overseas competition laws, investment regulations and other applicable laws and regulations. In this transaction, obtaining clearance under the Foreign Exchange and Foreign Trade Act is a prerequisite |
Items this document does not state (23)
Location 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 CompanyAcquisition priceExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodVoting rights ownership percentageFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Impact on Business PerformanceValuation methodologyIndependent valuation institutionSpecial CommitteeManagement 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.It was determined that the acquisition of these shares constitutes inward direct investment, etc. relating to national security and other matters, because the Company manufactures high-performance machine tools with a particularly high potential for military diversion and possesses related technologies and information, and because restricting access to sensitive information would also make it difficult to access information necessary to enhance corporate value, which would be incompatible with the tender offeror's investment objectives.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.