AP86 gains majority stake in Nihon Chouzai, plans delisting

AP86 Inc.'s tender offer for Nihon Chouzai shares, which began on August 1, 2025, concluded successfully on September 16, 2025. AP86 Inc. acquired 21,829,548 shares of Nihon Chouzai, exceeding its minimum purchase threshold of 14,078,200 shares.

This acquisition means that as of September 24, 2025, AP86 Inc. will become Nihon Chouzai's new parent company and largest shareholder, holding over 50% of the voting rights. Consequently, AP86 Holdings Inc., AP86 Inc.'s parent company, will also become Nihon Chouzai's parent company through indirect ownership.

The successful tender offer also results in significant changes for existing major shareholders. Yozo Mitsuhara and Hiroshi Mitsuhara, previously major and controlling shareholders, will cease to hold these statuses as of the settlement date. AP86 Inc. intends to acquire all Nihon Chouzai shares (excluding those held by Nihon Chouzai and MP Planning Inc.) as part of its strategy to delist the company from the Tokyo Stock Exchange Prime Market.