TK Corporation adjusts Topcon MBO tender offer timeline

TK Corporation has issued a partial correction to its announcement regarding the tender offer for Topcon Corporation as part of a management buyout (MBO). The initial tender offer, commencing on July 29, 2025, aimed to privatize Topcon by acquiring all its common shares. This correction addresses updated timelines and conditions following the completion of necessary clearances.

Initially, TK Corporation confirmed that, as of July 24, 2025, it had secured all required clearances except those related to competition law in the EU, Vietnam, Albania, and Ukraine, and direct inward investment in Japan, the United States, Italy, and Spain. By August 26, 2025, all outstanding clearances were expected to be obtained. However, subsequent updates on August 27, 2025, indicate that the competition law clearances for Albania, Vietnam, Italy, Spain, the US, Japan, Ukraine, and the EU were completed between July 25 and August 25, 2025.

As a result, the tender offer period has been extended from the initial 30 business days (ending September 9, 2025) to 31 business days, now concluding on September 10, 2025. The settlement start date for the tender offer has also been shifted from September 17, 2025, to September 18, 2025. Furthermore, should the tender offer conclude and TK Corporation not hold 90% or more of Topcon’s voting rights, a share consolidation will be pursued, with the record date for an extraordinary general meeting set for September 30, 2025.