Core Corporation raises tender offer for Pacific Industrial to JPY 2,919 per share

Core Corporation, on October 23, 2025, announced an increase in its tender offer price for Pacific Industrial shares from JPY 2,050 to JPY 2,919 per share. The tender offer period has also been extended from July 28, 2025, to November 7, 2025, totaling 70 business days. This decision follows a verbal agreement with Giken Co., Ltd., a significant shareholder, for their full participation. The revised offer price aims to enhance the tender offer's success and provide a higher selling opportunity for shareholders.

Pacific Industrial's Special Committee confirmed that the increased offer price and the agreement with Giken do not alter its prior recommendation for shareholders to tender their shares. The committee affirmed that the revised terms continue to be fair and reasonable for shareholders. The payment settlement date is now scheduled for November 14, 2025.

The tender offer also outlines plans for a squeeze-out procedure, including a share consolidation, expected between mid-January and early March 2026, to fully delist Pacific Industrial shares. This strategy seeks to improve Pacific Industrial's corporate value and ensure a fair exit for all shareholders.