Top 100
Ranked by the overall score. Companies already under a tender offer, or bought in the past year, are left out.
| # | Company | Closest type | Score (vs average) | Main reasons |
|---|---|---|---|---|
| 1 | DENTSU SOKEN INC.4812・IT & telecoms | PE fund | 6.0x | DENTSU GROUP INC. owns 62% (controlling)Activist stake: OasisPrice-to-book 5.58x |
| 2 | GMO Internet, Inc.4784・Services | Parent | 5.8x | GMO internet group, Inc. owns 91% (controlling)Price-to-book 11.10x |
| 3 | NS Solutions Corporation2327・IT & telecoms | Parent | 5.8x | NIPPON STEEL CORPORATION owns 63% (controlling)Activist stake: 3D Investment Partners |
| 4 | OSAKA STEEL CO., LTD.5449・Steel | Parent | 5.8x | A company owns 56% (controlling)Activist stake: Effissimo, Strategic Capital |
| 5 | HITO-TO-HITO Holdings Co.,Ltd.549A・Services | Parent | 5.8x | A company owns 85% (controlling) |
| 6 | SEPTENI HOLDINGS CO., LTD.4293・Services | Strategic | 5.4x | DENTSU GROUP INC. owns 52% (controlling)Activist stake: Oasis |
| 7 | INTAGE HOLDINGS Inc.4326・IT & telecoms | Strategic | 5.1x | A company owns 51% (controlling)Activist stake: Dalton / NAVF |
| 8 | Daikokuya Holdings Co.,Ltd.6993・Electrical equipment | Strategic | 4.7x | A company owns 66% (controlling)Price-to-book 12.74x |
| 9 | DAIHO CORPORATION1822・Construction | Strategic | 4.7x | A company owns 50% (controlling)Activist stake: Murakami group (City Index Eleventh etc.) |
| 10 | Sharing Innovations Inc.4178・IT & telecoms | Parent | 4.5x | Orchestra Holdings Inc. owns 72% (controlling)Market value ¥2.4bn |
| 11 | SHANON Inc.3976・IT & telecoms | Strategic | 4.5x | Innovation Inc. owns 57% (controlling)Market value ¥3.3bn |
| 12 | Convano Inc.6574・Services | Strategic | 4.5x | A company owns 62% (controlling)Price-to-book 9.18x |
| 13 | GOLDCREST Co.,Ltd.8871・Real estate | MBO | 4.4x | A company owns 48%Activist stake: Strategic Capital |
| 14 | SANDEN CORPORATION6444・Machinery | Parent | 4.3x | A company owns 73% (controlling)Net cash -196% of market value |
| 15 | Magmag, Inc.4059・IT & telecoms | Parent | 4.3x | AirTrip Corp. owns 69% (controlling)Market value ¥1.2bn |
| 16 | TETSUJIN Holdings,Inc.2404・Services | Strategic | 4.3x | A company owns 62% (controlling)Price-to-book 11.01x |
| 17 | StemCell Institute Inc.7096・Pharmaceuticals | Parent | 4.3x | NIHON TRIM CO.,LTD. owns 71% (controlling) |
| 18 | AEON Financial Service Co., Ltd.8570・Other financing | Parent | 4.3x | AEON CO.,LTD. owns 48%Activist stake: OasisNet cash -204% of market value |
| 19 | Cross E Holdings Corporation Limited231A・Services | Parent | 4.2x | H.I.S. Co., Ltd. owns 70% (controlling)Market value ¥3.0bn |
| 20 | GMO Product Platform, Inc.3695・IT & telecoms | Parent | 4.2x | GMO internet group, Inc. owns 70% (controlling) |
| 21 | FORVAL TELECOM,INC.9445・IT & telecoms | Parent | 4.2x | FORVAL CORPORATION owns 70% (controlling) |
| 22 | J.E.T. Co., LTD.6228・Machinery | Parent | 4.1x | KOREA SECURITIES DEPOSITORY -SAMSUNG owns 66% (controlling) |
| 23 | visumo Inc.303A・Other products | Strategic | 4.1x | SOFTCREATE HOLDINGS CORP. owns 62% (controlling)Market value ¥1.3bn |
| 24 | The Sailor Pen Co.,Ltd.7992・Other products | Strategic | 4.0x | A company owns 58% (controlling)Market value ¥3.1bn |
| 25 | Japan Tissue Engineering Co., Ltd.7774・Precision instruments | Strategic | 4.0x | TEIJIN LIMITED owns 58% (controlling)Price-to-book 6.65x |
| 26 | Nippon Ski Resort Development Co.,Ltd.6040・Services | Parent | 4.0x | NIPPON PARKING DEVELOPMENT Co.,Ltd. owns 69% (controlling) |
| 27 | REALGATE INC.5532・Real estate | Strategic | 4.0x | CyberAgent,Inc. owns 64% (controlling)Price-to-book 6.46x |
| 28 | MEDIKIT CO.,LTD.7749・Precision instruments | MBO | 4.0x | A company owns 41%Activist stake: Valex Partners |
| 29 | GMO Commerce, Inc.410A・IT & telecoms | Parent | 3.9x | GMO internet group, Inc. owns 65% (controlling) |
| 30 | RUNSYSTEM CO.,LTD.3326・Retail | Strategic | 3.9x | AOKI Holdings Inc. owns 57% (controlling)Price-to-book 8.97xMarket value ¥2.9bn |
| 31 | Inbound Platform Corp.5587・IT & telecoms | Parent | 3.9x | AirTrip Corp. owns 65% (controlling)Market value ¥2.8bn |
| 32 | WDB coco CO., LTD.7079・Services | Parent | 3.9x | WDB HOLDINGS CO., LTD. owns 68% (controlling) |
| 33 | GLOE Inc.9565・Services | Strategic | 3.9x | KAYAC Inc. owns 51% (controlling)Market value ¥1.8bn |
| 34 | ORACLE CORPORATION JAPAN4716・IT & telecoms | Parent | 3.9x | ORACLE JAPAN HOLDING,INC. owns 74% (controlling)Price-to-book 6.03x |
| 35 | YAGAMI INC.7488・Wholesale | Parent | 3.8x | A company owns 67% (controlling) |
| 36 | AUCNET INC.3964・IT & telecoms | PE fund | 3.8x | A company owns 41%Activist stake: Valex Partners |
| 37 | NIFTY Lifestyle Co., Ltd.4262・IT & telecoms | Parent | 3.8x | A company owns 65% (controlling) |
| 38 | G-FACTORY CO.,LTD.3474・Real estate | Strategic | 3.8x | A company owns 54% (controlling)Market value ¥3.9bn |
| 39 | Koyou Rentia Co., Ltd.7081・Services | Parent | 3.8x | A company owns 68% (controlling) |
| 40 | Universal Entertainment Corporation6425・Machinery | Parent | 3.7x | OKADA HOLDINGS LIMITED owns 70% (controlling) |
| 41 | GMO Media, Inc.6180・Services | Parent | 3.7x | GMO internet group, Inc. owns 63% (controlling) |
| 42 | Sincere Co., LTD.7782・Precision instruments | Parent | 3.7x | EUCALIA Inc. owns 62% (controlling)Market value ¥3.2bn |
| 43 | DATA HORIZON CO.,LTD.3628・IT & telecoms | Strategic | 3.7x | A company owns 51% (controlling)Price-to-book 21.54x |
| 44 | SOPHIA HOLDINGS CO.,LTD.6942・IT & telecoms | Strategic | 3.7x | A company owns 53% (controlling)Price-to-book 4.27x |
| 45 | AEON KYUSHU CO.,LTD.2653・Retail | Parent | 3.6x | AEON CO.,LTD. owns 70% (controlling) |
| 46 | Flier Inc.323A・IT & telecoms | Strategic | 3.6x | MEDIA DO Co., Ltd. owns 56% (controlling)Market value ¥1.3bnPrice-to-book 4.24x |
| 47 | BeeX Inc.4270・IT & telecoms | Parent | 3.6x | TerraSky Co.,Ltd. owns 63% (controlling)Market value ¥4.3bn |
| 48 | Ubiteq, INC.6662・Electrical equipment | Strategic | 3.6x | ORIX CORPORATION owns 58% (controlling)Market value ¥3.4bn |
| 49 | SBI ARUHI Corporation7198・Other financing | Parent | 3.6x | A company owns 63% (controlling)Net cash -216% of market value |
| 50 | UNITIKA LTD.3103・Textiles | Parent | 3.6x | A company owns 67% (controlling) |
| 51 | Datasection Inc.3905・IT & telecoms | PE fund | 3.5x | FIRST PLUS FINANCIAL HOLDINGS PTE. LTD. owns 33%Activist stake: Oasis |
| 52 | SM ENTERTAINMENT JAPAN Co.,Ltd.4772・IT & telecoms | Parent | 3.5x | A company owns 66% (controlling) |
| 53 | SD ENTERTAINMENT,Inc.4650・Services | Parent | 3.5x | RIZAP GROUP, Inc. owns 60% (controlling)Market value ¥2.4bn |
| 54 | NOVARESE,Inc.9160・Services | Parent | 3.5x | A company owns 60% (controlling) |
| 55 | COX CO.,LTD.9876・Retail | Parent | 3.5x | AEON CO.,LTD. owns 68% (controlling) |
| 56 | NEOJAPAN Inc.3921・IT & telecoms | MBO | 3.5x | A company owns 37%Activist stake: Kaname Capital |
| 57 | AEON Fantasy Co.,LTD.4343・Services | Parent | 3.5x | AEON CO.,LTD. owns 60% (controlling)Price-to-book 6.94x |
| 58 | SBI Leasing Services Co., Ltd.5834・Other financing | Parent | 3.4x | A company owns 62% (controlling) |
| 59 | APPLIED TECHNOLOGY CO., LTD.4356・IT & telecoms | Parent | 3.4x | transcosmos inc. owns 60% (controlling) |
| 60 | NISSAN TOKYO SALES HOLDINGS CO.,LTD.8291・Retail | MBO | 3.4x | A company owns 38%Activist stake: Dalton / NAVF |
| 61 | Shirohato Co.,Ltd.3192・Retail | Strategic | 3.4x | A company owns 51% (controlling)Market value ¥1.7bn |
| 62 | ASMO CORPORATION2654・Wholesale | Parent | 3.4x | A company owns 61% (controlling) |
| 63 | TABIKOBO Co. Ltd.6548・Services | Strategic | 3.4x | Adventure, Inc. owns 53% (controlling)Market value ¥2.5bn |
| 64 | GMO Pepabo, Inc.3633・IT & telecoms | Parent | 3.4x | GMO internet group, Inc. owns 59% (controlling)Price-to-book 4.82x |
| 65 | GMO Financial Holdings, Inc.7177・Securities | Parent | 3.4x | GMO internet group, Inc. owns 66% (controlling) |
| 66 | Twenty-four seven Holdings Inc.7074・Services | Strategic | 3.4x | Has an unlisted parent companyA company owns 40%Price-to-book 19.61x |
| 67 | Will Smart Co.,LTD.175A・IT & telecoms | Strategic | 3.4x | ZENRIN CO., LTD. owns 44%Price-to-book 297.22xMarket value ¥1.4bn |
| 68 | Digital Garage, Inc.4819・IT & telecoms | PE fund | 3.4x | A company owns 31%Activist stake: OasisPrice-to-book 4.77x |
| 69 | OpenWork Inc.5139・IT & telecoms | Parent | 3.3x | Link and Motivation Inc. owns 53% (controlling) |
| 70 | Jimoto Holdings,Inc.7161・Banks | Parent | 3.3x | A company owns 63% (controlling) |
| 71 | TANAKEN Inc.1450・Construction | Parent | 3.3x | A company owns 60% (controlling) |
| 72 | Kohsai Co.,Ltd.7878・Other products | Strategic | 3.3x | A company owns 54% (controlling)Market value ¥1.7bn |
| 73 | Innovation Holdings CO.,LTD.3484・Real estate | Parent | 3.3x | CROPS CORPORATION owns 60% (controlling)Price-to-book 4.29x |
| 74 | GMO Financial Gate, Inc.4051・IT & telecoms | Parent | 3.3x | GMO Payment Gateway, Inc. owns 57% (controlling)Price-to-book 8.19x |
| 75 | Yakiniku Sakai Holdings Inc.2694・Retail | Strategic | 3.3x | A company owns 50% (controlling) |
| 76 | PHYZ Holdings Inc.9325・Services | Parent | 3.3x | AZ-COM MARUWA Holdings Inc. owns 58% (controlling) |
| 77 | WILL,Co.,Ltd.3241・Real estate | Parent | 3.3x | A company owns 57% (controlling) |
| 78 | VALUE CREATION CO.,LTD.9238・Services | Strategic | 3.3x | A company owns 56% (controlling)Price-to-book 20.79xMarket value ¥0.8bn |
| 79 | GreenEnergy & Company Inc.1436・Construction | Strategic | 3.3x | A company owns 59% (controlling)Price-to-book 4.00x |
| 80 | Sakai Moving Service Co.,Ltd.9039・Land transport | MBO | 3.3x | A company owns 36%Activist stake: Misaki Capital |
| 81 | TENDA Co.,LTD.4198・IT & telecoms | Strategic | 3.3x | A company owns 53% (controlling)Market value ¥3.4bn |
| 82 | CUC Inc.9158・Services | Parent | 3.3x | M3, Inc. owns 63% (controlling) |
| 83 | AlphaPurchase Corporation7115・Wholesale | Parent | 3.3x | ASKUL Corporation owns 61% (controlling) |
| 84 | M3, Inc.2413・Services | PE fund | 3.3x | SONY GROUP CORPORATION owns 34%Activist stake: OasisPrice-to-book 5.36x |
| 85 | JFE Systems, Inc.4832・IT & telecoms | Parent | 3.3x | A company owns 65% (controlling) |
| 86 | NITTO FUJI FLOUR MILLING CO.,LTD.2003・Foods | Parent | 3.2x | Mitsubishi Corporation owns 65% (controlling) |
| 87 | MARUHACHI HOLDINGS CO., LTD.3504・Textiles | Parent | 3.2x | A company owns 68% (controlling) |
| 88 | Mitsubishi Paper Mills Limited3864・Pulp & paper | MBO | 3.2x | Oji Holdings Corporation owns 33%Activist stake: Murakami group (City Index Eleventh etc.) |
| 89 | Aeon Hokkaido Corporation7512・Retail | Parent | 3.2x | AEON CO.,LTD. owns 66% (controlling) |
| 90 | EARLY AGE CO., Ltd.3248・Real estate | Strategic | 3.2x | A company owns 50% (controlling)Net cash -295% of market valueMarket value ¥2.8bn |
| 91 | Entrust Inc.7191・Other financing | Parent | 3.2x | Prestige International(S)Pte Ltd. owns 57% (controlling) |
| 92 | TECHNOFLEX CORPORATION3449・Metal products | Parent | 3.2x | A company owns 61% (controlling) |
| 93 | Showcase Inc.3909・Services | Parent | 3.2x | AI FUSION CAPITAL GROUP CORP. owns 51% (controlling)Market value ¥1.7bn |
| 94 | BUFFALO INC.6676・Electrical equipment | MBO | 3.1x | A company owns 31%Activist stake: Effissimo |
| 95 | CommSeed Corporation3739・IT & telecoms | Strategic | 3.1x | Cykan Holdings Co.,Ltd. owns 51% (controlling)Market value ¥1.8bn |
| 96 | KAPPA-CREATE CO., LTD.7421・Retail | Strategic | 3.1x | A company owns 51% (controlling)Price-to-book 7.92x |
| 97 | Forval RealStraight Inc.9423・IT & telecoms | Strategic | 3.1x | FORVAL CORPORATION owns 51% (controlling)Market value ¥2.5bn |
| 98 | NIPPON SHINDO CO.,LTD.5753・Non-ferrous metals | Parent | 3.1x | CK SAN-ETSU Co.,Ltd. owns 55% (controlling) |
| 99 | TOKYO STEEL MANUFACTURING CO.,LTD.5423・Steel | Strategic | 3.1x | Has an unlisted parent companyA company owns 24%Activist stake: Oasis |
| 100 | KOWA CO.,LTD.7807・Other products | Parent | 3.1x | A company owns 55% (controlling)Market value ¥3.7bn |
Score: the model score combining all the traits, relative to the average listed company. It is not a forecast that the company will be bought. Each company's page shows how often companies with a similar score were actually bought in the past test.
Buyout by the parent
A parent buys out the minority. A separate model trained only on the 99 past deals of this type.
| # | Company | Score (vs this type's average) | Main reasons |
|---|---|---|---|
| 1 | GMO Internet, Inc.4784・Services | 19.3x | GMO internet group, Inc. owns 91% (controlling)Price-to-book 11.10x |
| 2 | HITO-TO-HITO Holdings Co.,Ltd.549A・Services | 15.9x | A company owns 85% (controlling) |
| 3 | SANDEN CORPORATION6444・Machinery | 13.6x | A company owns 73% (controlling)Net cash -196% of market value |
| 4 | ORACLE CORPORATION JAPAN4716・IT & telecoms | 12.0x | ORACLE JAPAN HOLDING,INC. owns 74% (controlling)Price-to-book 6.03x |
| 5 | MARUHACHI HOLDINGS CO., LTD.3504・Textiles | 11.6x | A company owns 68% (controlling) |
| 6 | UNITIKA LTD.3103・Textiles | 11.4x | A company owns 67% (controlling) |
| 7 | Cross E Holdings Corporation Limited231A・Services | 11.1x | H.I.S. Co., Ltd. owns 70% (controlling)Market value ¥3.0bn |
| 8 | COX CO.,LTD.9876・Retail | 10.5x | AEON CO.,LTD. owns 68% (controlling) |
| 9 | Koyou Rentia Co., Ltd.7081・Services | 10.1x | A company owns 68% (controlling) |
| 10 | FORVAL TELECOM,INC.9445・IT & telecoms | 10.1x | FORVAL CORPORATION owns 70% (controlling) |
| 11 | AEON KYUSHU CO.,LTD.2653・Retail | 10.1x | AEON CO.,LTD. owns 70% (controlling) |
| 12 | Sharing Innovations Inc.4178・IT & telecoms | 9.8x | Orchestra Holdings Inc. owns 72% (controlling)Market value ¥2.4bn |
| 13 | KODAMA CHEMICAL INDUSTRY CO., LTD.4222・Chemicals | 9.7x | A company owns 52% (controlling) |
| 14 | Nippon Ski Resort Development Co.,Ltd.6040・Services | 9.6x | NIPPON PARKING DEVELOPMENT Co.,Ltd. owns 69% (controlling) |
| 15 | WDB coco CO., LTD.7079・Services | 9.4x | WDB HOLDINGS CO., LTD. owns 68% (controlling) |
Management buyout
Managers buy their own company, often with a fund. A separate model trained only on the 88 past deals of this type.
| # | Company | Score (vs this type's average) | Main reasons |
|---|---|---|---|
| 1 | NEOJAPAN Inc.3921・IT & telecoms | 7.3x | A company owns 37%Activist stake: Kaname Capital |
| 2 | MEDIKIT CO.,LTD.7749・Precision instruments | 5.6x | A company owns 41%Activist stake: Valex Partners |
| 3 | Kurashicom Inc.7110・Retail | 5.4x | Activist stake: Valex PartnersFounder family owns 68% |
| 4 | Sakai Moving Service Co.,Ltd.9039・Land transport | 5.0x | A company owns 36%Activist stake: Misaki Capital |
| 5 | ChatPlus Co., Ltd.598A・IT & telecoms | 4.8x | A company owns 40%Founder family owns 60%Price-to-book 7.44x |
| 6 | GOLDCREST Co.,Ltd.8871・Real estate | 4.7x | A company owns 48%Activist stake: Strategic Capital |
| 7 | BUFFALO INC.6676・Electrical equipment | 4.7x | A company owns 31%Activist stake: Effissimo |
| 8 | ORO Co.,Ltd.3983・IT & telecoms | 4.5x | Activist stake: Valex PartnersFounder family owns 57% |
| 9 | RAKUS Co., Ltd.3923・IT & telecoms | 4.5x | Activist stake: IchigoFounder family owns 52%Price-to-book 14.09x |
| 10 | AUCNET INC.3964・IT & telecoms | 4.4x | A company owns 41%Activist stake: Valex Partners |
| 11 | TOHOKUSHINSHA FILM CORPORATION2329・IT & telecoms | 4.4x | Activist stake: 3D Investment PartnersFounder family owns 39% |
| 12 | M3, Inc.2413・Services | 4.2x | SONY GROUP CORPORATION owns 34%Activist stake: OasisPrice-to-book 5.36x |
| 13 | KeePer Technical Laboratory Co.,Ltd.6036・Services | 4.2x | A company owns 21%Activist stake: Misaki CapitalPrice-to-book 3.81x |
| 14 | NISSAN TOKYO SALES HOLDINGS CO.,LTD.8291・Retail | 4.0x | A company owns 38%Activist stake: Dalton / NAVF |
| 15 | MIC Co., Ltd.300A・Services | 3.9x | A company owns 46% |
Private equity
A private equity fund buys it. A separate model trained only on the 57 past deals of this type.
| # | Company | Score (vs this type's average) | Main reasons |
|---|---|---|---|
| 1 | SMS CO., LTD.2175・Services | 18.8x | Activist stake: OasisPrice-to-book 8.17x |
| 2 | DENTSU SOKEN INC.4812・IT & telecoms | 14.7x | DENTSU GROUP INC. owns 62% (controlling)Activist stake: OasisPrice-to-book 5.58x |
| 3 | Infomart Corporation2492・Services | 13.9x | Activist stake: OasisPrice-to-book 13.27x |
| 4 | Daikokuya Holdings Co.,Ltd.6993・Electrical equipment | 12.4x | A company owns 66% (controlling)Price-to-book 12.74x |
| 5 | Will Smart Co.,LTD.175A・IT & telecoms | 11.9x | ZENRIN CO., LTD. owns 44%Price-to-book 297.22xMarket value ¥1.4bn |
| 6 | NS Solutions Corporation2327・IT & telecoms | 11.5x | NIPPON STEEL CORPORATION owns 63% (controlling)Activist stake: 3D Investment Partners |
| 7 | LIFENET INSURANCE COMPANY7157・Insurance | 11.4x | Activist stake: Effissimo, Ariake CapitalPrice-to-book 5.13x |
| 8 | INTRANCE CO.,LTD.3237・Real estate | 10.6x | Price-to-book 20.79xMarket value ¥4.2bn |
| 9 | Sansan, Inc.4443・IT & telecoms | 10.6x | A company owns 26%Activist stake: IchigoPrice-to-book 12.95x |
| 10 | M3, Inc.2413・Services | 10.2x | SONY GROUP CORPORATION owns 34%Activist stake: OasisPrice-to-book 5.36x |
| 11 | KUBOTEK CORPORATION7709・Precision instruments | 10.0x | Founder family owns 72%Market value ¥0.6bnPrice-to-book 10.07x |
| 12 | AIR WATER INC.4088・Chemicals | 9.6x | Activist stake: Murakami group (City Index Eleventh etc.), OasisPrice-to-book 4.01x |
| 13 | Digital Garage, Inc.4819・IT & telecoms | 9.4x | A company owns 31%Activist stake: OasisPrice-to-book 4.77x |
| 14 | G-NEXT Inc.4179・IT & telecoms | 9.0x | Price-to-book 24.55xMarket value ¥1.9bn |
| 15 | AUCNET INC.3964・IT & telecoms | 9.0x | A company owns 41%Activist stake: Valex Partners |
Strategic buyer
Another operating company buys it. A separate model trained only on the 108 past deals of this type.
| # | Company | Score (vs this type's average) | Main reasons |
|---|---|---|---|
| 1 | KUBOTEK CORPORATION7709・Precision instruments | 11.6x | Founder family owns 72%Market value ¥0.6bnPrice-to-book 10.07x |
| 2 | Twenty-four seven Holdings Inc.7074・Services | 11.1x | Has an unlisted parent companyA company owns 40%Price-to-book 19.61x |
| 3 | VALUE CREATION CO.,LTD.9238・Services | 10.9x | A company owns 56% (controlling)Price-to-book 20.79xMarket value ¥0.8bn |
| 4 | Wintest Corp.6721・Electrical equipment | 10.4x | Has an unlisted parent companyWuhan Jingce Electronic Group Co., Ltd. owns 37%Price-to-book 11.41x |
| 5 | GALA INCORPORATED4777・IT & telecoms | 9.9x | Has an unlisted parent companyMegazone Cloud Corporation owns 36%Price-to-book 12.46x |
| 6 | Flier Inc.323A・IT & telecoms | 8.6x | MEDIA DO Co., Ltd. owns 56% (controlling)Market value ¥1.3bnPrice-to-book 4.24x |
| 7 | Saikaya Department Store Co.,Ltd.8254・Retail | 8.0x | AFC-HD AMS Life Science Co.,Ltd. owns 37%Price-to-book 29.24xMarket value ¥1.9bn |
| 8 | RUNSYSTEM CO.,LTD.3326・Retail | 7.8x | AOKI Holdings Inc. owns 57% (controlling)Price-to-book 8.97xMarket value ¥2.9bn |
| 9 | Daikokuya Holdings Co.,Ltd.6993・Electrical equipment | 7.8x | A company owns 66% (controlling)Price-to-book 12.74x |
| 10 | GLOE Inc.9565・Services | 7.8x | KAYAC Inc. owns 51% (controlling)Market value ¥1.8bn |
| 11 | The Sailor Pen Co.,Ltd.7992・Other products | 7.7x | A company owns 58% (controlling)Market value ¥3.1bn |
| 12 | SHANON Inc.3976・IT & telecoms | 7.4x | Innovation Inc. owns 57% (controlling)Market value ¥3.3bn |
| 13 | BARCOS Co., Ltd.7790・Other products | 7.0x | A company owns 61% (controlling)Market value ¥1.2bnNet cash -211% of market value |
| 14 | SOPHIA HOLDINGS CO.,LTD.6942・IT & telecoms | 6.9x | A company owns 53% (controlling)Price-to-book 4.27x |
| 15 | Will Smart Co.,LTD.175A・IT & telecoms | 6.9x | ZENRIN CO., LTD. owns 44%Price-to-book 297.22xMarket value ¥1.4bn |
This site ranks listed companies by how closely their public filings (annual reports and large-shareholding reports) resemble past tender-offer and MBO targets. It is not a prediction that any company will be bought, is not based on any non-public information, and is not a recommendation to buy or sell. Not investment advice.
Updated 29 Sep 2026 00:48 JST