Leopalace21 announces treasury stock repurchase, tender offer

Leopalace21 Corporation has announced a significant move to enhance shareholder value through a treasury stock repurchase, a tender offer, and the buyback of stock acquisition rights. The board approved the repurchase of up to 137,072,803 shares of its common stock for a maximum of JPY71,552,003,166. The company will also conduct a tender offer to repurchase shares from Chidori Godo Kaisha, an affiliate of Fortress Investment Group, at JPY522 per share. Simultaneously, Leopalace21 will repurchase 25,571,801 units of stock acquisition rights held by Chidori for JPY391.3 per unit, totaling JPY10,005,380,930. The tender offer period will run from May 28, 2025, to June 24, 2025. Leopalace21 aims to improve capital efficiency, avoid earnings dilution, and alleviate downward pressure on its stock price. The moves are contingent upon Chidori exercising its acquisition rights on June 11, 2025. Plutus Consulting Co., Ltd. provided a fairness opinion regarding the tender offer price and the repurchase price for stock acquisition rights.