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TYO:4689

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Asia

LINE Yahoo, Bain Capital Sweeten Offer for Tabelog Operator Kakaku.com

LINE Yahoo and Bain Capital on Wednesday raised their tender offer price for Kakaku.com (TYO:2371) for the second time, offering 3,720 yen per share if they secure cooperation from KDDI (TYO:9433), or 3,597 yen if they cannot, according to a stock exchange filing.The latest move comes as EQT-backed Kamgras 1 proceeds with its tender offer at 3,680 yen per share, after raising its bid twice in recent weeks.LINE Yahoo and Bain Capital had previously offered 3,640 yen per share with KDDI's cooperation, or 3,520 yen without it.The bidding battle for comparison-shopping website Kakaku.com, which also operates Japanese restaurant review platform Tabelog, has seen both camps repeatedly raise their bids since EQT launched its tender offer in May.

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Asia

Japanese Stocks Fall on Bond Selloff as US-Iran Conflict Fuels Rate Hike Fears; Oil Climbs

Japanese stocks closed down on Wednesday to end in the red on a global bond selloff as a fresh escalation in the Middle East fueled inflation and rate hike fears as oil climbs.The benchmark Nikkei 225 closed down 1,889.70 points, or 2.85%, at 64,325.64.Oil prices climbed as fresh US-Iran escalation heightened uncertainty in the Middle East, raising energy security concerns and fears over the safety of oil transit through the Strait of Hormuz.On the corporate side, Honda Motor (TYO:7267) will carry out cost-cutting measures amounting to 1.5 trillion yen over a four-year period to boost its competitiveness against Chinese rivals, according to media reports.Also, SoftBank (TYO:9434) said it has partnered with LY (TYO:4689) to launch Yahoo! Smartphone Buyback, an online service allowing customers to sell their smartphones regardless of their mobile carrier in Japan, according to a Wednesday release.

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Asia

SoftBank, LY Corp. Launch Online Smartphone Buyback Service

SoftBank (TYO:9434) said it has partnered with LY (TYO:4689) to launch Yahoo! Smartphone Buyback, an online service allowing customers to sell their smartphones regardless of their mobile carrier in Japan, according to a Wednesday release.The Japanese telecommunications and technology company said the new service enables users to complete the appraisal, application, and payment processes online, and customers can receive payment through PayPay Money or bank transfers.The new service application assesses devices based on factors including touchscreen and camera functionality, screen and back-panel damage, and battery condition, and the estimated buyback price will be displayed immediately.

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Asia

EQT Extends Kakaku.com Tender Offer with a Minimal 1 Yen Offer Price Increase

Kamgras 1 has raised its tender offer price for Kakaku.com (TYO:2371) by just 1 yen to 3,571 yen per share, allowing the firm to extend the offer period from Aug. 27 to Sept. 10.Kamgras 1 faces a competing acquisition proposal from a consortium led by Bain Capital and LY (TYO:4689), with prices of 3,640 yen per share conditional on an agreement with major shareholder KDDI.Without the agreement, the duo's proposed offer remains at 3,520 yen per share as of Aug. 21.Kamgras 1 is a special purpose vehicle for private equity firm EQT and Kakaku.com's other major shareholder Digital Garage.EQT had earlier noted it is in discussions with Kakaku.com's other major shareholder Oasis, regarding tendering its shares, though no decisions have been finalized.

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Asia

Fitch Affirms SoftBank Corp. at BBB+ with Stable Outlook

Fitch Ratings has affirmed SoftBank Corp.'s (TYO:9434) long-term issuer default ratings at BBB+ with a stable outlook, citing the company's solid business profile, according to a statement on Friday.The agency said the affirmation shows SoftBank Corp.'s strong mobile market position as Japan's third-largest mobile operator with a 25% subscriber share, and diversification benefits from its stake in LY (TYO:4689).The rating agency also affirmed the 'BBB+' ratings on SoftBank Corp.'s $500 million senior unsecured notes due 2030, 500 euro million senior unsecured notes due 2032, $500 million senior unsecured notes due 2035 and 700 euro million senior unsecured notes due 2036.

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Asia

LY Corp. and Bain Offer Conditional 3,640 Yen Bid for Kakaku.com to Outbid Rivals

LY (TYO:4689) and Bain Capital have agreed to increase their tender offer price for Kakaku.com (TYO:2371) to 3,640 yen per share, topping Kamgras 1's earlier 3,570 yen offer, but on the condition that they can secure a non-tender agreement with KDDI (TYO:2371).The higher price is contingent on KDDI, Kakaku.com's major shareholder, agreeing not to tender its 17.7% stake, according to a Tokyo bourse filing on Friday.However, KDDI is currently bound by an existing non-tender agreement with Kamgras 1, preventing it from negotiating with Bain's consortium.Bain believes that if Kamgras 1's tender offer fails by its Aug. 27 deadline, KDDI would be released from that restriction and likely agree to a deal.Meanwhile, another major shareholder, Oasis, with a 19.14% stake, has publicly backed Bain's 3,640 yen proposal and declined Kamgras 1's lower offer.Bain's tender offer is expected to commence in mid-September, subject to regulatory approvals and Kakaku.com's board support.Kamgras 1 is the special purpose vehicle for EQT and Digital Garage, which in turn is the largest shareholder of Kakaku.com.

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Asia

EQT Consortium Tops Bain's Bid with 3,570 Yen Offer for Kakaku.com

The EQT and Digital Garage consortium has raised its tender offer for Kakaku.com (TYO:2371) to 3,570 yen per share, exceeding Bain Capital and LY Corp.'s (TYO:4689) rival proposal of 3,520 yen on July 29.The consortium extended the offer period to Aug. 27, following an earlier extension to August 17 after Kakaku.com requested discussions on a potential price increase.The amended price represents a 68.32% premium over Kakaku.com's unaffected share price of 2,121 yen and significantly exceeds one-, three-, and six-month average closing prices, according to a statement on Thursday.All necessary regulatory clearances have already been obtained, with the consortium committed to delivering value while allowing Kakaku.com to focus on its long-term growth and development.

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Asia

LY's Attributable Profit Rises 19% in Fiscal Q1

LY's (TYO:4689) net income attributable to owners of the parent jumped 19% to 58.1 billion yen in the fiscal first quarter from 48.7 billion yen a year earlier.The internet company's earnings per share increased to 8.44 yen from 6.80 yen a year ago, according to a Monday Tokyo bourse filing.Revenue climbed 13% to 554 billion yen in the three months ended June 30 from 489.6 billion yen in the prior-year period.For the fiscal year ending March 31, 2027, the company expects revenue of 2.240 trillion yen and an adjusted EPS of 30 yen.

TYO:4689
Asia

Kamgras 1 Extends Tender Offer for Kakaku.com After Bain Capital's Counter-Bid

Kakaku.com (TYO:2371) said Swedish private equity firm Kamgrás 1 has extended its tender offer purchase period to Aug. 17 from Aug. 3, with settlement moved to Aug. 24.The extension follows a July 29 counter-proposal from Bain Capital affiliate BCPE Blitz Cayman and LY Corp. (TYO:4689), which priced their competing offer at 3,520 yen per share, outbidding Kamgrás 1's 3,450 yen offer, according to a Tokyo bourse filing on Friday.Kakaku.com has requested discussions regarding a potential price increase, while Kamgrás 1 has not yet determined whether to revise its bid.

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Asia

Seven & i Forms Partnership to Digitize Stores

Seven & i (TYO:3382) entered a strategic partnership deal with SoftBank (TYO:94340), PayPay, LY (TYO:4689) and Sumitomo Mitsui Card to integrate digital services into its store network.The partnership is backed by 300 billion yen in capital, 100 billion yen each from SoftBank, PayPay, and Sumitomo Mitsui Card for long-term execution.The Japanese investment company said that the partnership aims to combine over 20,000 stores with artificial intelligence, robotics, cashless payments, and data analytics, bringing personalized shopping experiences.

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Asia

Jefferies Adjusts LY's Price Target to 500 Yen From 445 Yen, Keeps at Hold

LY (TYO:4689) has an average rating of buy and mean price target of 547 yen, according to analysts polled by FactSet.

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Asia

Update: Market Chatter: Bain and LY Corp. Prepare to Counter EQT's Bid for Kakaku.com

(updated with Kakaku.com's response)Bain Capital and LY Corp. are poised to submit a higher joint offer for Kakaku.com (TYO:2371) than EQT's recent 3,450 yen-per-share proposal, Bloomberg News reported on Friday, citing sources familiar with the matter.An improved bid could surface within days, but deliberations are still confidential and inconclusive, with no binding decision made and the outcome subject to change, Bloomberg said.EQT has extended its tender offer deadline to August 3 amid ongoing discussions with Kakaku's Hong Kong-based shareholder, Oasis Management, the publication said.Kakaku.com declined to comment, while Bain Capital and LY Corp. did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Bain and LY Corp. Prepare to Counter EQT's Bid for Kakaku.com

Bain Capital and LY Corp. are poised to submit a higher joint offer for Kakaku.com (TYO:2371) than EQT's recent 3,450 yen-per-share proposal, Bloomberg News reported on Friday, citing sources familiar with the matter.An improved bid could surface within days, but deliberations are still confidential and inconclusive, with no binding decision made and the outcome subject to change, Bloomberg said.EQT has extended its tender offer deadline to August 3 amid ongoing discussions with Kakaku's Hong Kong-based shareholder, Oasis Management, the publication said.Kakaku.com, Bain Capital and LY Corp. did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

LY Submits Final Report on Measures to Prevent Information Leaks

LY (TYO:4689) said that it has completed the submission of its report on measures introduced to prevent a recurrence of a data breach caused by unauthorized access to the Japanese authorities, according to a Tuesday filing on the Tokyo Stock Exchange.The Tokyo-listed company said that the final report was submitted to Japan's Ministry of Internal Affairs and Communications and the Personal Information Protection Commission on July 15.The report follows information leakage due to unauthorized access in 2023.

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Asia

EQT Raises Bid for Kakaku.com, Topping Rival's Offer

Stockholm-based EQT has increased its tender offer for Kakaku.com (TYO:2371) to roughly 3,440 yen to 3,460 yen per share, surpassing the 3,384 yen bid from LY (TYO:4689) and Bain Capital, Bloomberg News reported on Thursday, citing persons familiar with the deal.The Swedish private equity firm is said to have extended the offer period through July for the Japanese online data company, whose shares have surged 55% this year, outperforming the broader Topix index, the news wire said.EQT and Kakaku.com did not immediately respond to' comment.

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Asia

Market Chatter: 7-Eleven Operator Exploring Share Sale to SoftBank, PayPay

Seven & i (TYO:3382), operator of the 7-Eleven convenience store chain, is considering a multibillion-yen sale of shares to SoftBank (TYO:9984) and LY's (TYO:4689) PayPay, Bloomberg News reported Monday, citing people familiar with the matter.The investment would strengthen the companies' partnership and help Seven drive earnings growth at its convenience store business, the report said.The three companies aim to finalize an agreement by August, though discussions remain ongoing and no deal is guaranteed, according to Bloomberg. The report added that a potential investment by Sumitomo Mitsui's credit card unit could further deepen the partnership.Seven & i, Softbank, and Paypay didn't immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Japanese Shares Slip as AI Sell-Off Weighs on Investor Sentiment

Japan's equities failed to recover from opening losses and closed in the red on Thursday, tracking the somber mood globally dragged by the sell off among AI stocks.The Nikkei 225 closed lower by 1,741.81 points or 2.47% to 68,733.15.Investors are also keenly eyeing the US jobs data that could provide hints towards interest rate hikes in the near future.Meanwhile, Japanese Prime Minister Sanae Takaichi is on a three-day visit to India, where she will hold talks with Prime Minister Narendra Modi on Thursday and discuss cooperation in critical sectors including electronics components, natural resources, and energy.Back home, Japan's monetary base, which reflects the total volume of currency in circulation and current account deposits held at the central bank, fell 13.7% year over year in June, according to data from the Bank of Japan on Thursday.On the corporate side, Otsuka (TYO:4768) achieved positive full results from the Phase 3 VISIONARY trial evaluating VOYXACT (sibeprenlimab), according to a Tokyo bourse filing on Thursday.Also, LY (TYO:4689) and Bain Capital have submitted a binding takeover proposal on Wednesday to take Kakaku.com private via a cash tender offer and squeeze-out, following earlier non-binding proposals in May.

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Asia

LY and Bain Capital Submit Binding Bid to Take Kakaku.com Private

LY (TYO:4689) and Bain Capital submitted a binding takeover proposal on Wednesday to take Kakaku.com private via a cash tender offer and squeeze-out, following earlier non-binding proposals in May.A Cayman Islands partnership, wholly owned and operated by Bain Capital, will act as the offeror, according to a Tokyo bourse filing on Thursday.The bid received approval from Bain's investment committee and LY's board, read the filing.

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Asia

LY to Absorb Wholly Owned Subsidiary LINE Healthcare

LY (TYO:4689) has agreed to absorb its wholly owned subsidiary, LINE Healthcare, via a simplified merger effective Sept. 1, 2026, following the June 2025 termination of their LINE Doctor telemedicine service.As LINE Healthcare is fully owned, no shares or cash will be allotted to shareholders in the transaction, according to a Tokyo bourse filing on Wednesday.The merger, approved by the board on June 29 and with the agreement planned for signing on July 1, will proceed without shareholder meetings due to simplified merger provisions.LINE Healthcare reported negative net assets of 1.13 billion yen, and post-merger, LY's name, leadership, and business scope will remain unchanged.

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Asia

LY Named as Parent Firm with Significant Influence Over ZOZO

ZOZO (TYO:3092) parent company structure centers on LY (TYO:4689), which holds 51.9% voting rights indirectly through Z Intermediate and dispatches two directors to ZOZO's board, granting it significant decision-making influence.The group maintains commercial ties, including ZOZOTOWN integration with Yahoo! Japan Shopping and payment services via SB Payment Service Corp, according to a Tokyo bourse filing on Tuesday.To ensure independence, ZOZO has established governance rules allowing autonomous management decisions while restricting parent-company directors from voting on special-interest board resolutions.

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