Wellco Holdings completes tender offer, reducing founder's influence

Wellco Holdings Corporation concluded its tender offer for own shares on September 8, 2025, acquiring 9,075,860 common shares at JPY 108 per share, totaling JPY 980,192,880. This concludes the self-share acquisition resolved by the board on August 8, 2025, aiming to improve corporate governance by reducing the founder's influence as per its January 24, 2025 improvement plan. The total acquisition value was JPY 1,134,010,800.

Concurrently, this transaction resulted in a change in the company's related parties. Wakasa-ya Co., Ltd., a major shareholder, tendered some of its shares. Effective October 2, 2025, Wakasa-ya's voting rights ownership will decrease from 39.96% to 19.33%, falling below the 20% threshold and impacting its status as a major shareholder.

The settlement for the tender offer and the change in Wakasa-ya's status will take place on October 2, 2025. Wellco Holdings expects this move to facilitate the removal of its special warning designation and ensure continued listing.