Raksul revises dividend forecast to zero amidst MBO

Raksul announced on December 11, 2025, a revision to its dividend forecast for the fiscal year ending July 31, 2026, from 4.25 yen to 0.00 yen. This change is contingent upon the successful completion of a tender offer for Raksul’s common shares and share options by R1, a special purpose company indirectly owned by Goldman Sachs. The tender offer price for common shares is 1,710 yen per share. The company's board supports the MBO and recommends shareholders tender their shares, noting the delisting of Raksul shares is anticipated post-tender offer.

Concurrently, Raksul released its Q1 FY2026 consolidated financial results, showing revenue of 17,235m yen, a 17.2% increase year-over-year. Operating profit rose by 15.8% to 1,126m yen, and profit attributable to owners of parent increased by 87.1% to 808m yen. The company reiterated its full-year revenue forecast of 75,000m-77,000m yen and operating profit of 4,500m-5,000m yen.

Raksul's strategic actions include recent M&A activities, such as acquiring Dandelion Inc.'s e-commerce business and making Team Like Inc. a subsidiary, expanding its procurement platform and B2B offerings. The company also launched Raksul Bank, a new banking service for small and medium-sized businesses, aiming to reduce transfer costs and offer 2.0% point rewards on debit card transactions.