Integral launches tender offer for Kadoya Sesame Mills at 2,514 yen per share, aiming to take it private

Corporate ActionM&A · Partnership
โดย Bloomberg·JP·Read original
Summary · why it matters

Kadoya Sesame Mills, known for its "pure sesame oil," announced on the evening of the 14th that domestic investment fund Integral will conduct a tender offer for its shares at 2,514 yen per share to take the company private. The tender offer period runs from the 15th through October 30, with a minimum acceptance threshold of 50.09% of shares and no upper limit. Integral's investment through the tender offer will amount to roughly 58 billion yen. Kadoya Sesame Mills has expressed its support and recommends that general shareholders tender their shares, while also noting the possibility that a competing proposal could emerge. The current largest shareholder is Mitsubishi Corporation with 26.88%, and the second-largest is Mitsui & Co. with 21.92%. If both companies cooperate by not tendering into the offer and instead agreeing to a buyback, Integral will raise the tender offer price for general shareholders to as much as 2,760 yen per share, while lowering the minimum acceptance threshold. Kadoya Sesame Mills shares closed at 2,419 yen on September 14. The move to take the company private was prompted by an approach from an operating company in September 2025, and in addition to Integral, which has teamed up with the founding family, multiple companies took part in the acquisition process. Kadoya Sesame Mills judged Integral's proposal to be the best, but in parallel one operating company is still considering a legally binding proposal, and one fund is proceeding with due diligence.

Impact on stocks 3

Energy Transition & Power Demand▲ · 2 stocks
Mitsui & Co.,Ltd
8031
± Mixedrelevance

Named as second-largest shareholder (21.92%); its cooperation on tendering/buyback could affect the offer terms, but no decision or action by Mitsui is reported.

Mitsubishi Corporation
8058
± Mixedrelevance

Named as largest shareholder (26.88%); its cooperation on tendering/buyback could affect the offer terms, but no decision or action by Mitsubishi is reported.

Financials▲ · 1 stocks
Integral Corporation
5842
▲ PositiveCapitalrelevance

Integral is the acquirer launching the tender offer at 2,514 yen per share (~58 billion yen) to take Kadoya Sesame Mills private.

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