LY Corporation completes tender offer for its own shares

SoftBank Corp announced that its subsidiary, LY Corporation (TSE:4689), has completed its tender offer to acquire its own shares. The tender offer, which commenced on May 8, 2025, and concluded on June 4, 2025, resulted in the repurchase of 218,064,491 common shares. A Holdings Corporation, another SoftBank subsidiary and the owner of 62.45% of LY Corporation’s shares, participated in the tender offer by submitting a portion of its holdings. The total purchase price amounted to JPY116,228,373,703, excluding fees for the tender offer agent and other expenses. Following the completion of the tender offer, LY Corporation will cancel 213,264,491 treasury shares on July 1, 2025. These treasury shares are calculated after subtracting 4,800,000 shares from the total acquired by the Tender Offer. SoftBank stated that the effect on its consolidated financial statements would be immaterial. This operation aligns with the company's capital policy, aiming to enhance shareholder value.