LIFE CORPORATION will launch a public tender offer for ALBIS shares at ¥3,780 per share and, after the tender offer, take ALBIS private and make it a consolidated subsidiary through a share consolidation. Ultimately, LIFE CORPORATION is expected to hold 83.38% and Mitsubishi Corporation 16.62%.
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.
Operation of food supermarkets
| Item | Details |
|---|---|
| Transaction name | This tender offer |
| Counterparty name | Mitsubishi Corporation |
| Name of the Subject Company | アルビス株式会社 |
| Business Description of the Subject Company | Operation of food supermarkets |
| Location of the Subject Company | Imizu, Toyama Prefecture |
| Capital Stock of the Subject Company | ¥4,908 million (as at 31 March 2026) |
| Date of Establishment of the Subject Company | 23 December 1968 |
| Acquisition price | ¥26,334,386,820 (purchase consideration calculated by multiplying the planned purchase quantity of 6,966,769 shares by the public tender offer price of ¥3,780) |
| Type of Consideration | Cash |
| Tender offer price | ¥3,780 per common share |
| Minimum number of shares to be purchased | 4,171,200 shares |
| Tender offer period | From 9 September 2026 through 10 November 2026 (40 business days) |
| Number of shares acquired | 6,966,769 shares and 69,667 voting rights (based on the planned purchase quantity) |
| Voting rights ownership percentage | Before 0.00％ → after 83.38％ |
| Date of board resolution | 8 September 2026 |
| Contract Date | 8 September 2026 |
| Execution Date / Effective Date | 17 November 2026 (settlement start date). The effective date of the share consolidation has not been determined, and the extraordinary general meeting of shareholders is scheduled for around early January 2027. |
| Valuation methodology | Market price method, comparable company analysis, and DCF method |
| Independent valuation institution | 大和証券株式会社, SMBC Nikko Securities Inc. |
| Special Committee | Established. The committee consists of 3 members: Kazeta Tatsuya (加世多 達也), independent outside director; Matsumura Atsuki (松村 篤樹), independent outside director, certified public accountant and tax accountant; and Yamaguchi Toshihiko (山口 敏彦), independent outside corporate auditor and attorney. |
| Conditions Precedent to Execution | The total number of shares tendered in the public tender offer must be at least 4,171,200. Following the successful completion of the public tender offer, a special resolution must be obtained at an extraordinary general meeting of shareholders concerning the share consolidation and related matters. |
| Management structure after acquisition | ALBIS will become a consolidated subsidiary of LIFE CORPORATION, while its autonomy and regional characteristics will be respected. The store trade names will generally be maintained. The specific operating structure, and the employment and treatment of employees, will be discussed and determined after the transaction. Mitsubishi Corporation is expected to remain as a shareholder holding 16.62%. |
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 transaction will combine ALBIS's store operating capabilities developed in the Hokuriku region, its strengths in fresh food, and the trust it has earned from customers with LIFE CORPORATION's management resources to generate synergies in store openings and M&A, product development, joint procurement, logistics, sales promotion, systems and human resources development. The company stated that taking ALBIS private was deemed necessary because maintaining its listing could constrain medium- to long-term initiatives due to potential conflicts of interest with minority shareholders and the need to consider short-term market valuations.