Money Forward extends tender offer for Outlook Consulting, adjusts terms

Money Forward Consulting Inc. has extended its tender offer for Outlook Consulting Inc. shares. The offer, initially set to conclude on December 25, 2025, will now run until January 20, 2026, adding 12 business days for a total of 42 business days. This extension follows the discovery that Money Forward, the parent company, had over 50% foreign ownership as of November 30, 2025, requiring a pre-notification under the Foreign Exchange and Foreign Trade Act. This pre-notification was filed and accepted on December 18, 2025.

The acquisition's settlement start date has also been adjusted from January 6, 2026, to January 27, 2026. Furthermore, Outlook Consulting Inc.'s capital has been revised from 144,460,000 yen to 145,079,500 yen as of September 30, 2025. The schedule for the extraordinary general meeting of shareholders to approve the share consolidation, if needed, has been moved from early March 2026 to late March 2026.