Mandom responds to Kalon Holdings’ amended tender offer, higher price proposed

Mandom Corporation confirmed today the filing of an amendment statement by Kalon Holdings Co., Ltd. for its tender offer, changing the purchase price to 2,520 yen per share. This amendment follows previous revisions, extending the period from September 26, 2025, to December 18, 2025. The original tender offer price was 1,960 yen per share.

In response, Mandom’s board of directors will evaluate whether these revised terms and the broader transaction contribute to the company's corporate value and its shareholders' common interests. A decision on the board's opinion regarding the updated tender offer is expected to be announced soon.

The amendment statement also details agreements with major shareholders, including the Nishimura Family Shareholders and institutional investors, for tendering shares and a revised re-investment structure. Lumina International Holdings Limited and the offeror parent company plan a share transfer, making the offeror parent company a wholly-owned subsidiary. The Nishimura International Scholarship Foundation and certain individuals will subscribe to preferred and common shares of the newly established wholly-owned parent company.