Mitsui Matsushima boosts share buyback, launches tender offer

Mitsui Matsushima Holdings (TSE:1518) is set to increase its acquisition of own shares, launching a tender offer to repurchase up to 4,000,000 shares, representing 35.8% of outstanding shares, for a total of JPY 20,000,000,000, marking a significant increase from the previously planned 3,500,000 shares. The move aims to enhance shareholder returns and optimize capital structure, targeting a PBR above 1. The tender offer, priced at JPY 5,000 per share, is scheduled to begin on June 19, 2025, and will continue until July 16, 2025. Major shareholders, including Nanseki, Fortis, City Index Eleven, and Esgranto Corporation, have agreed to tender a minimum of 3,300,000 shares. The company plans to fund the buyback through a combination of its own funds and a JPY 15,000,000,000 loan from Sumitomo Mitsui Banking Corporation. The company has cancelled the previously planned buyback, for which it had obtained 44,700 shares.