{
 "schema_version": 1,
 "id": "1884-20220210",
 "type": "TOB",
 "status": "completed",
 "announced_date": "2022-02-10",
 "target": {
  "edinet_code": "E00067",
  "sec_code": "1884",
  "name": "日本道路株式会社",
  "name_en": "THE NIPPON ROAD CO.,LTD.",
  "industry": "建設業",
  "industry_en": "Construction"
 },
 "acquirer": {
  "edinet_code": "E00053",
  "sec_code": "1803",
  "name": "清水建設株式会社",
  "name_en": "SHIMIZU CORPORATION",
  "industry": "建設業",
  "industry_en": "Construction"
 },
 "anchor_doc_id": "S100NH37",
 "needs_review": false,
 "review_reason": null,
 "terms": {
  "tender_price": {
   "history": [
    {
     "value": 10000,
     "unit": "yen",
     "as_of_date": null,
     "source": {
      "doc_id": "S100NH37",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf",
      "submitted": "2022-02-10",
      "quote": "本公開買付価格を10,000円とすることを決議いたしました。"
     }
    }
   ],
   "latest": {
    "value": 10000,
    "unit": "yen",
    "as_of_date": null,
    "source": {
     "doc_id": "S100NH37",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf",
     "submitted": "2022-02-10",
     "quote": "本公開買付価格を10,000円とすることを決議いたしました。"
    }
   }
  },
  "period_end": {
   "history": [
    {
     "value": "2022-03-28",
     "unit": "date",
     "as_of_date": null,
     "source": {
      "doc_id": "S100NH37",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf",
      "submitted": "2022-02-10",
      "quote": "公開買付期間は30営業日、2022年３月28日（月曜日）までとなります。"
     }
    }
   ],
   "latest": {
    "value": "2022-03-28",
    "unit": "date",
    "as_of_date": null,
    "source": {
     "doc_id": "S100NH37",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf",
     "submitted": "2022-02-10",
     "quote": "公開買付期間は30営業日、2022年３月28日（月曜日）までとなります。"
    }
   }
  },
  "period_business_days": {
   "history": [
    {
     "value": 30,
     "unit": "business_days",
     "as_of_date": null,
     "source": {
      "doc_id": "S100NH37",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf",
      "submitted": "2022-02-10",
      "quote": "公開買付期間は30営業日、2022年３月28日（月曜日）までとなります。"
     }
    }
   ],
   "latest": {
    "value": 30,
    "unit": "business_days",
    "as_of_date": null,
    "source": {
     "doc_id": "S100NH37",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf",
     "submitted": "2022-02-10",
     "quote": "公開買付期間は30営業日、2022年３月28日（月曜日）までとなります。"
    }
   }
  },
  "min_shares": {
   "history": [
    {
     "value": 2220200,
     "unit": "shares",
     "as_of_date": null,
     "source": {
      "doc_id": "S100NH37",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf",
      "submitted": "2022-02-10",
      "quote": "応募株券等の総数が買付予定数の下限（2,220,200株）に満たない場合は、応募株券等の全部の買付け等を行いません。"
     }
    }
   ],
   "latest": {
    "value": 2220200,
    "unit": "shares",
    "as_of_date": null,
    "source": {
     "doc_id": "S100NH37",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf",
     "submitted": "2022-02-10",
     "quote": "応募株券等の総数が買付予定数の下限（2,220,200株）に満たない場合は、応募株券等の全部の買付け等を行いません。"
    }
   }
  },
  "max_shares": {
   "history": [
    {
     "value": 2220200,
     "unit": "shares",
     "as_of_date": null,
     "source": {
      "doc_id": "S100NH37",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf",
      "submitted": "2022-02-10",
      "quote": "応募株券等の総数が買付予定数の上限（2,220,200株）を超える場合は、その超える部分の全部又は一部の買付け等は行わないものとし"
     }
    }
   ],
   "latest": {
    "value": 2220200,
    "unit": "shares",
    "as_of_date": null,
    "source": {
     "doc_id": "S100NH37",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf",
     "submitted": "2022-02-10",
     "quote": "応募株券等の総数が買付予定数の上限（2,220,200株）を超える場合は、その超える部分の全部又は一部の買付け等は行わないものとし"
    }
   }
  },
  "tendered_shares": {
   "history": [
    {
     "value": 4119407,
     "unit": "shares",
     "as_of_date": null,
     "source": {
      "doc_id": "S100NPR0",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NPR0.pdf",
      "submitted": "2022-03-23",
      "quote": "応募株券等」といいます。）の総数（4,119,407株）"
     }
    }
   ],
   "latest": {
    "value": 4119407,
    "unit": "shares",
    "as_of_date": null,
    "source": {
     "doc_id": "S100NPR0",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NPR0.pdf",
     "submitted": "2022-03-23",
     "quote": "応募株券等」といいます。）の総数（4,119,407株）"
    }
   }
  }
 },
 "premiums": [
  {
   "value": 19.19,
   "unit": "percent",
   "as_of_date": "2022-02-08",
   "source": {
    "doc_id": "S100NH63",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
    "submitted": "2022-02-10",
    "quote": "本公開買付けの公表日の前営業日である2022年２月８日の東京証券取引所市場第一部における当社株式の終値8,390円に対して19.19％"
   },
   "basis": "前営業日終値",
   "basis_en": "Closing price on the business day before announcement"
  },
  {
   "value": 19.9,
   "unit": "percent",
   "as_of_date": "2022-02-08",
   "source": {
    "doc_id": "S100NH63",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
    "submitted": "2022-02-10",
    "quote": "同日までの過去１ヶ月間（2022年１月11日から2022年２月８日まで）の終値の単純平均値8,340円に対して19.90％"
   },
   "basis": "過去1ヶ月間の終値単純平均値",
   "basis_en": "1-month simple average closing price"
  },
  {
   "value": 22.09,
   "unit": "percent",
   "as_of_date": "2022-02-08",
   "source": {
    "doc_id": "S100NH63",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
    "submitted": "2022-02-10",
    "quote": "同日までの過去３ヶ月間（2021年11月９日から2022年２月８日まで）の終値の単純平均値8,191円に対して22.09％"
   },
   "basis": "過去3ヶ月間の終値単純平均値",
   "basis_en": "3-month simple average closing price"
  },
  {
   "value": 21.74,
   "unit": "percent",
   "as_of_date": "2022-02-08",
   "source": {
    "doc_id": "S100NH63",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
    "submitted": "2022-02-10",
    "quote": "同日までの過去６ヶ月間（2021年８月10日から2022年２月８日まで）の終値の単純平均値8,214円に対して21.74％"
   },
   "basis": "過去6ヶ月間の終値単純平均値",
   "basis_en": "6-month simple average closing price"
  }
 ],
 "profile": {
  "extracted": true,
  "listing": {
   "value": "keep_listing",
   "source": {
    "doc_id": "S100NH63",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
    "submitted": "2022-02-10",
    "quote": "本公開買付け成立後も引き続き当社株式の上場を維持する方針であることから"
   }
  },
  "discount_tob": {
   "value": false,
   "source": null
  },
  "acquirer_type": {
   "value": "parent",
   "source": {
    "doc_id": "S100NH63",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
    "submitted": "2022-02-10",
    "quote": "両社の資本関係の強化を契機として上記に掲げた(ⅰ)～(ⅴ)のような両社グループのより一層の企業価値向上を図るための施策を講じることができるとの判断から、当社との資本関係を強化することで公開買付者グループ及び当社グループの企業価値向上も見込めると判断したとのことです。"
   }
  },
  "auction": {
   "value": false,
   "source": null
  },
  "competing_offer": {
   "value": false,
   "source": null
  },
  "special_committee": {
   "value": true,
   "source": {
    "doc_id": "S100NH63",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
    "submitted": "2022-02-10",
    "quote": "諮問委員会の意見及びみずほ証券の助言を踏まえ、同月19日、増額に向けた再検討を行うよう要請し"
   }
  },
  "sc_own_valuer": null,
  "fairness_opinions": [],
  "proposals": [
   {
    "date": "2022-01-24",
    "price": 10000,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100NH63",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
     "submitted": "2022-02-10",
     "quote": "同月24日に本公開買付価格を10,000円（以下「１月24日付再提案価格」といいます。）とする旨の再提案を行ったとのことです。"
    }
   },
   {
    "date": null,
    "price": 10000,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100NH63",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
     "submitted": "2022-02-10",
     "quote": "本公開買付けの成立可能性という観点でも十分に合理性のある水準であると結論付け、本公開買付価格を１月24日付再提案価格と同額の10,000円とする旨の最終提案を行ったとのことです。"
    }
   },
   {
    "date": null,
    "price": 9800,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100NH63",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
     "submitted": "2022-02-10",
     "quote": "本公開買付価格を9,800円とする旨の提案を行ったとのことです。"
    }
   }
  ],
  "initial_offer": 10000,
  "offer_raise_pct": 0,
  "offer_rounds": 2,
  "negotiation_excluded": null,
  "category": "partial",
  "category_basis": "filing"
 },
 "valuations": [
  {
   "valuator": "野村證券株式会社",
   "valuator_as_written": "野村證券株式会社",
   "valuator_en": "Nomura Securities Co., Ltd.",
   "side": "acquirer",
   "method": "comparable",
   "method_label": "類似会社比較法",
   "method_en": "Comparable companies method",
   "metrics": {
    "per_share_value": {
     "low": 5582,
     "high": 7435,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100NH63",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
      "submitted": "2022-02-10",
      "quote": "類似会社比較法：5,582円から 7,435円"
     }
    }
   }
  },
  {
   "valuator": "野村證券株式会社",
   "valuator_as_written": "野村證券株式会社",
   "valuator_en": "Nomura Securities Co., Ltd.",
   "side": "acquirer",
   "method": "dcf",
   "method_label": "ＤＣＦ法",
   "method_en": "DCF method",
   "metrics": {
    "per_share_value": {
     "low": 9377,
     "high": 13962,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100NH63",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
      "submitted": "2022-02-10",
      "quote": "ＤＣＦ法 ：9,377円から13,962円"
     }
    }
   }
  },
  {
   "valuator": "野村證券株式会社",
   "valuator_as_written": "野村證券株式会社",
   "valuator_en": "Nomura Securities Co., Ltd.",
   "side": "acquirer",
   "method": "market_price",
   "method_label": "市場株価平均法",
   "method_en": "Market price method",
   "metrics": {
    "per_share_value": {
     "low": 8191,
     "high": 8390,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100NH63",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
      "submitted": "2022-02-10",
      "quote": "市場株価平均法：8,191円から 8,390円"
     }
    }
   }
  },
  {
   "valuator": "みずほ証券株式会社",
   "valuator_as_written": "みずほ証券株式会社",
   "valuator_en": "Mizuho Securities Co., Ltd.",
   "side": "target",
   "method": "comparable",
   "method_label": "類似企業比較法",
   "method_en": "Comparable companies method",
   "metrics": {
    "per_share_value": {
     "low": 4176,
     "high": 8100,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100NH63",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
      "submitted": "2022-02-10",
      "quote": "類似企業比較法：4,176円から 8,100円"
     }
    }
   }
  },
  {
   "valuator": "みずほ証券株式会社",
   "valuator_as_written": "みずほ証券株式会社",
   "valuator_en": "Mizuho Securities Co., Ltd.",
   "side": "target",
   "method": "dcf",
   "method_label": "ＤＣＦ法",
   "method_en": "DCF method",
   "metrics": {
    "per_share_value": {
     "low": 8340,
     "high": 15877,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100NH63",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
      "submitted": "2022-02-10",
      "quote": "ＤＣＦ法 ：8,340円から15,877円"
     }
    }
   }
  },
  {
   "valuator": "みずほ証券株式会社",
   "valuator_as_written": "みずほ証券株式会社",
   "valuator_en": "Mizuho Securities Co., Ltd.",
   "side": "target",
   "method": "market_price",
   "method_label": "市場株価基準法",
   "method_en": "Market price method",
   "metrics": {
    "per_share_value": {
     "low": 8191,
     "high": 8390,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100NH63",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf",
      "submitted": "2022-02-10",
      "quote": "市場株価基準法：8,191円から 8,390円"
     }
    }
   }
  }
 ],
 "timeline": [
  {
   "date": "2022-02-10",
   "doc_id": "S100NH37",
   "doc_type_code": "240",
   "doc_type": "公開買付届出書",
   "filer": "清水建設株式会社",
   "filer_en": "SHIMIZU CORPORATION",
   "description": "公開買付届出書",
   "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH37.pdf"
  },
  {
   "date": "2022-02-10",
   "doc_id": "S100NH63",
   "doc_type_code": "290",
   "doc_type": "意見表明報告書",
   "filer": "日本道路株式会社",
   "filer_en": "THE NIPPON ROAD CO.,LTD.",
   "description": "意見表明報告書",
   "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NH63.pdf"
  },
  {
   "date": "2022-03-23",
   "doc_id": "S100NPR0",
   "doc_type_code": "270",
   "doc_type": "公開買付報告書",
   "filer": "清水建設株式会社",
   "filer_en": "SHIMIZU CORPORATION",
   "description": "公開買付報告書",
   "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100NPR0.pdf"
  }
 ],
 "related": [],
 "flags": [],
 "unverified_count": 0
}