Worth reading
71In 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
6046
¥ millionWording
Conditional
How definitive the wording is.This transaction
This tender offerCounterparty (target company)SUIDO KIKO KAISHA,LTD.
Disclosing companyMETAWATER Co.,Ltd.
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.
TimelineThe spacing between the points is proportional to the actual number of days.
Target company
Manufacture, installation and sale of water treatment machinery and equipment, and related businesses
Location Setagaya-ku, TokyoShare capital ¥1,947 million (as of 31 December 2025)Date of incorporation 1 August 1924
Net Sales¥25,966 million (fiscal year ended March 2025)
Operating profit¥1,479 million (fiscal year ended March 2025)
Net income for the current fiscal year¥427 million (fiscal year ended March 2025)
Net assets¥10,178 million (fiscal year ended March 2025)
Consideration and expenses
Acquisition price¥6,046 million
Expenses other than the acquisition priceAdvisory fees and other expenses are not included (no specific amount stated).
Type of ConsiderationCash
Tender offer price¥4,050 per common share
Minimum number of shares to be purchased669,400 shares
Tender offer period6 February 2026 to 24 March 2026 (30 business days)
Impact on Business Performance
Currently under review. If any event requiring disclosure arises, it will be disclosed promptly.
Procedures and assumptions
Management structure after acquisitionThere are no changes from the information announced on 5 February 2026 regarding the policy following the tender offer and related matters. No specific information is provided on the company name, representative, or employee treatment.
| Item | Details |
|---|---|
| Transaction name | This tender offer |
| Counterparty name | SUIDO KIKO KAISHA,LTD. |
| Name of the Subject Company | SUIDO KIKO KAISHA,LTD. |
| Business Description of the Subject Company | Manufacture, installation and sale of water treatment machinery and equipment, and related businesses |
| Location of the Subject Company | Setagaya-ku, Tokyo |
| Capital Stock of the Subject Company | ¥1,947 million (as of 31 December 2025) |
| Date of Establishment of the Subject Company | 1 August 1924 |
| Net Sales of the Subject Company | ¥25,966 million (fiscal year ended March 2025) |
| Operating Profit of the Subject Company | ¥1,479 million (fiscal year ended March 2025) |
| Net Income of the Subject Company | ¥427 million (fiscal year ended March 2025) |
| Net Assets of the Subject Company | ¥10,178 million (fiscal year ended March 2025) |
| Acquisition price | ¥6,046 million |
| Expenses other than the acquisition price | Advisory fees and other expenses are not included (no specific amount stated). |
| Type of Consideration | Cash |
| Tender offer price | ¥4,050 per common share |
| Minimum number of shares to be purchased | 669,400 shares |
| Tender offer period | 6 February 2026 to 24 March 2026 (30 business days) |
| Number of shares acquired | 1,493,025 shares (14,930 voting rights) |
| Voting rights ownership percentage | Before ―％ → after 34.80％ |
| Impact on Business Performance | Currently under review. If any event requiring disclosure arises, it will be disclosed promptly. |
| Date of board resolution | 5 February 2026 |
| Execution Date / Effective Date | 31 March 2026 (scheduled; the settlement commencement date for this tender offer) |
| Management structure after acquisition | There are no changes from the information announced on 5 February 2026 regarding the policy following the tender offer and related matters. No specific information is provided on the company name, representative, or employee treatment. |
Items this document does not state (9)
Merger ratio/share exchange ratioFunding arrangementsGoodwill amountAmount of extraordinary income (loss)Contract 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.To make the target company an equity-method affiliate of METAWATER as a result of the tender offer. The company states that there are no changes to the policy following the tender offer or to the outlook going forward from the information announced on 5 February 2026.
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