After Deal 日本語

CANON ELECTRONICS INC. tender offer

ID: 7739-20251201 ／ Deal data (JSON)

Overview

Target
CANON ELECTRONICS INC. (7739)
Sector
Electric Appliances
Acquirer
CANON INC.
Type
TOB
Status
Closed
Tender offer filing date
2025-12-01 Open on EDINET

Offer terms

ItemValueHistory
Offer price per common share ¥3,650 [1] —
Offer period (business days) 30 business days [2] —
Minimum shares 4,738,100 shares [3] —
Shares tendered 13,470,819 shares [4] —
Result Successful [5] —

Premiums (as stated in filings)

BasisAs ofValue
Closing price on the business day before announcement 2025-11-27 33.4%[6]
1-month simple average closing price 2025-11-27 37.0%[7]
3-month simple average closing price 2025-11-27 34.6%[8]
6-month simple average closing price 2025-11-27 38.4%[9]

Premiums are as stated in the filings (not recalculated from market prices).

Valuations

Valuer Engaged by Method Value per share Discount rate Perpetual growth rate
Mizuho Securities Co., Ltd. Acquirer Comparable companies method ¥2,774 〜 ¥3,265[10] — —
Mizuho Securities Co., Ltd. Acquirer DCF method ¥2,717 〜 ¥4,044[11] — —
Mizuho Securities Co., Ltd. Acquirer Market price method (市場株価基準法) ¥2,638 〜 ¥2,736[12] — —
Nomura Securities Co., Ltd. Target DCF method ¥2,572 〜 ¥4,345[13] 7.3% 〜 8.3%[14] -0.3% 〜 0.3%[15]
Nomura Securities Co., Ltd. Target Market price method (市場株価平均法) ¥2,638 〜 ¥2,736[16] — —

Timeline (filings)

FilingDateFilerdocID
Tender Offer Registration Statement 2025-12-01 CANON INC. S100X7RJ
Position Statement 2025-12-01 CANON ELECTRONICS INC. S100X7TM
Tender Offer Report 2026-01-20 CANON INC. S100XGP9

Sources

  1. Tender Offer Registration Statement (S100X7RJ) 2025-12-01
    Original text (Japanese): 本公開買付価格を3,650円とする本公開買付けを実施することを決議いたしました
  2. Tender Offer Registration Statement (S100X7RJ) 2025-12-01
    Original text (Japanese): 公開買付期間を30営業日に設定しております
  3. Tender Offer Registration Statement (S100X7RJ) 2025-12-01
    Original text (Japanese): 買付予定数の下限を4,738,100株（所有割合：11.58％）と設定しており
  4. Tender Offer Report (S100XGP9) 2026-01-20
    Original text (Japanese): 応募株券等の数の合計（13,470,819株）
  5. Tender Offer Report (S100XGP9) 2026-01-20
    Original text (Japanese): 応募株券等の数の合計（13,470,819株）が買付予定数の下限（4,738,100株）以上となりましたので、公開買付開始公告及び公開買付届出書に記載のとおり、応募株券等の全部の買付け等を行います。
  6. Position Statement (S100X7TM) 2025-12-01
    Original text (Japanese): 2025年11月27日の東京証券取引所プライム市場における当社株式の終値2,736円に対して33.41％
  7. Position Statement (S100X7TM) 2025-12-01
    Original text (Japanese): 直近１ヶ月間の終値単純平均値2,664円に対して37.01％
  8. Position Statement (S100X7TM) 2025-12-01
    Original text (Japanese): 直近３ヶ月間の終値単純平均値2,711円に対して34.64％
  9. Position Statement (S100X7TM) 2025-12-01
    Original text (Japanese): 直近６ヶ月間の終値単純平均値2,638円に対して38.36％のプレミアムを加えた価格であること。
  10. Position Statement (S100X7TM) 2025-12-01
    Original text (Japanese): 類似企業比較法 ：2,774円から3,265円
  11. Tender Offer Registration Statement (S100X7RJ) 2025-12-01
    Original text (Japanese): ＤＣＦ法 ：2,717円から4,044円
  12. Position Statement (S100X7TM) 2025-12-01
    Original text (Japanese): 市場株価基準法 ：2,638円から2,736円
  13. Tender Offer Registration Statement (S100X7RJ) 2025-12-01
    Original text (Japanese): ＤＣＦ法 ：2,572円～4,345円
  14. Tender Offer Registration Statement (S100X7RJ) 2025-12-01
    Original text (Japanese): 割引率は加重平均資本コスト（WACC：Weighted Average Cost of Capital）とし、7.25％～8.25％を採用しているとのことです
  15. Tender Offer Registration Statement (S100X7RJ) 2025-12-01
    Original text (Japanese): 永久成長率法においては、対象者を取り巻く長期的な経済見通し等を踏まえて永久成長率－0.25％～0.25％
  16. Position Statement (S100X7TM) 2025-12-01
    Original text (Japanese): 市場株価平均法 ：2,638円～2,736円