Worth reading
41Recurring
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
10
Business daysWording
Definitive
How definitive the wording is.This transaction
This tender offerCounterparty (target company)BASE株式会社
Disclosing companySBI Holdings,Inc.
The voting-rights ratio is the share of the votes exercisable at a shareholders’ meeting that will be held after this transaction.The percentage before the change is not stated in this document.
Date of board resolution28 August 2026 (target company's board of directors)
Contract Date28 August 2026
Consideration and expenses
Type of ConsiderationCash (¥340 per common share)
Tender offer price¥340 per common share
Minimum number of shares to be purchasedNone (not set)
Tender offer periodFrom 31 August 2026 to 15 October 2026 (30 business days)
Procedures and assumptions
Management structure after acquisitionThe purpose is to make the target company an equity-method affiliate. Taking the target company's shares private is not an objective. Trade name, representative and treatment of employees: Not disclosed
| Item | Details |
|---|---|
| Transaction name | This tender offer |
| Counterparty name | BASE株式会社 |
| Name of the Subject Company | BASE株式会社 |
| Type of Consideration | Cash (¥340 per common share) |
| Tender offer price | ¥340 per common share |
| Minimum number of shares to be purchased | None (not set) |
| Tender offer period | From 31 August 2026 to 15 October 2026 (30 business days) |
| Number of shares acquired | Maximum number of shares to be purchased: 23,792,300; number of voting rights: Not disclosed |
| Voting rights ownership percentage | After 20.67% (before not disclosed) |
| Date of board resolution | 28 August 2026 (target company's board of directors) |
| Contract Date | 28 August 2026 |
| Management structure after acquisition | The purpose is to make the target company an equity-method affiliate. Taking the target company's shares private is not an objective. Trade name, representative and treatment of employees: Not disclosed |
Items this document does not state (20)
Business Description of the Subject CompanyLocation 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 priceMerger ratio/share exchange ratioFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Impact on Business PerformanceExecution Date / Effective DateValuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to Execution
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.Because, in light of the status of tenders by shareholders and the outlook for further tenders, it was deemed appropriate to provide shareholders with an additional opportunity to consider whether to tender their shares.
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.