Japan Post unit revises Tonami Holdings tender offer details

Japan Post Holdings announced revisions to its subsidiary JWT Corporation's tender offer for shares of Tonami Holdings (TSE: 9070). The move follows clearance from the Fair Trade Commission, with notification of no exclusion order and shortening of the prohibited period received on March 4, 2025. The revisions address certain inaccuracies in the original tender offer notification from February 27, 2025 and adds those notices as supporting documentation. While the offer price remains unchanged, the company updated language around fairness opinions and included details about premiums paid, reflecting advice from Plutus Consulting. The tender offer stands at a price exceeding Tonami's past ten-year high and per-share net asset value of 10,167.52 yen. The company has made appropriate modifications to the regulatory filings.