Ashimori Industry: Toyoda Gosei amends tender offer for shares

Toyoda Gosei Co. has revised the minimum number of shares to be acquired in its tender offer for Ashimori Industry shares. The tender offeror's board of directors decided on October 16, 2025, to change the lower limit of the planned tender offer from 2,308,100 shares (ownership ratio: 38.29%) to 1,800,100 shares (ownership ratio: 29.86%). The tender offer price of JPY 4,140 per share remains unchanged.

This modification also extends the tender offer period. Originally scheduled to run from August 12, 2025, to October 16, 2025, it will now be extended to October 30, 2025. Ashimori Industry's board of directors maintains its recommendation to tender shares, stating the changes do not affect the positive assessment of the transaction's purpose and fairness.

The tender offeror aims to make Ashimori Industry a wholly-owned subsidiary. The initial application volume as of September 24, 2025, was 2,111,226 shares (ownership ratio: 35.03%), which already exceeds the new lower limit of 1,800,100 shares (ownership ratio: 29.86%). The Special Committee continues to endorse the transaction, noting that the changes do not affect the overall positive assessment.