SoftBank's LY Corp launches tender offer for BEENOS Inc.

** SoftBank Group Corp (TSE: 9984) announced that its subsidiary, LY Corporation (TSE: 4689), is proceeding with its plan to fully acquire BEENOS Inc. (TSE: 3328). A tender offer is slated to begin on March 24, 2025, with LY Corporation seeking to purchase all outstanding shares and share options of BEENOS, signaling a move to strengthen its position in the e-commerce sector. The tender offer price is set at ¥4,000 per share, with LY Corporation aiming to acquire a minimum of 66.03% of BEENOS' outstanding shares. The move comes after LY Corporation confirmed it secured agreements with key BEENOS shareholders, paving the way for the acquisition. LY Corporation expects that the transaction will contribute to enhancing the corporate value of the LY Group, with the objective of creating synergies and improving customer service and experience. With the acquisition underway, LY Corporation expects to delist BEENOS from the Tokyo Stock Exchange after the tender offer has completed.