{
 "schema_version": 1,
 "id": "4581-20231127",
 "type": "MBO",
 "status": "completed",
 "announced_date": "2023-11-27",
 "target": {
  "edinet_code": "E25678",
  "sec_code": "4581",
  "name": "大正製薬ホールディングス株式会社",
  "name_en": "TAISHO PHARMACEUTICAL HOLDINGS CO., LTD.",
  "industry": "医薬品",
  "industry_en": "Pharmaceutical"
 },
 "acquirer": {
  "edinet_code": "E39207",
  "sec_code": null,
  "name": "大手門株式会社",
  "name_en": "Otemon Co., Ltd.",
  "industry": "内国法人・組合（有価証券報告書等の提出義務者以外）",
  "industry_en": null
 },
 "anchor_doc_id": "S100SCY9",
 "needs_review": false,
 "review_reason": null,
 "terms": {
  "tender_price": {
   "history": [
    {
     "value": 8620,
     "unit": "yen",
     "as_of_date": null,
     "source": {
      "doc_id": "S100SCY9",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCY9.pdf",
      "submitted": "2023-11-27",
      "quote": "本公開買付価格8,620円は、本公開買付けの実施についての公表日の前営業日である2023年11月22日の対象者株式の東京証券取引所スタンダード市場における終値5,515円に対して56.30％"
     }
    }
   ],
   "latest": {
    "value": 8620,
    "unit": "yen",
    "as_of_date": null,
    "source": {
     "doc_id": "S100SCY9",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCY9.pdf",
     "submitted": "2023-11-27",
     "quote": "本公開買付価格8,620円は、本公開買付けの実施についての公表日の前営業日である2023年11月22日の対象者株式の東京証券取引所スタンダード市場における終値5,515円に対して56.30％"
    }
   }
  },
  "min_shares": {
   "history": [
    {
     "value": 54650900,
     "unit": "shares",
     "as_of_date": null,
     "source": {
      "doc_id": "S100SCY9",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCY9.pdf",
      "submitted": "2023-11-27",
      "quote": "買付予定数の下限を54,650,900株（所有割合：66.57％）に設定しており"
     }
    }
   ],
   "latest": {
    "value": 54650900,
    "unit": "shares",
    "as_of_date": null,
    "source": {
     "doc_id": "S100SCY9",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCY9.pdf",
     "submitted": "2023-11-27",
     "quote": "買付予定数の下限を54,650,900株（所有割合：66.57％）に設定しており"
    }
   }
  },
  "is_mbo": {
   "history": [
    {
     "value": "該当",
     "unit": "text",
     "as_of_date": null,
     "source": {
      "doc_id": "S100SCY9",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCY9.pdf",
      "submitted": "2023-11-27",
      "quote": "本取引は、いわゆるマネジメント・バイアウト(ＭＢＯ)(注３)に該当し"
     }
    }
   ],
   "latest": {
    "value": "該当",
    "unit": "text",
    "as_of_date": null,
    "source": {
     "doc_id": "S100SCY9",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCY9.pdf",
     "submitted": "2023-11-27",
     "quote": "本取引は、いわゆるマネジメント・バイアウト(ＭＢＯ)(注３)に該当し"
    }
   }
  },
  "tendered_shares": {
   "history": [
    {
     "value": 60034194,
     "unit": "shares",
     "as_of_date": null,
     "source": {
      "doc_id": "S100SMW0",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SMW0.pdf",
      "submitted": "2024-01-16",
      "quote": "応募株券等の総数(60,034,194株)"
     }
    }
   ],
   "latest": {
    "value": 60034194,
    "unit": "shares",
    "as_of_date": null,
    "source": {
     "doc_id": "S100SMW0",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SMW0.pdf",
     "submitted": "2024-01-16",
     "quote": "応募株券等の総数(60,034,194株)"
    }
   }
  },
  "result": {
   "history": [
    {
     "value": "成立",
     "unit": "text",
     "as_of_date": null,
     "source": {
      "doc_id": "S100SMW0",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SMW0.pdf",
      "submitted": "2024-01-16",
      "quote": "応募株券等の総数(60,034,194株)が買付予定数の下限(54,650,900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。"
     }
    }
   ],
   "latest": {
    "value": "成立",
    "unit": "text",
    "as_of_date": null,
    "source": {
     "doc_id": "S100SMW0",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SMW0.pdf",
     "submitted": "2024-01-16",
     "quote": "応募株券等の総数(60,034,194株)が買付予定数の下限(54,650,900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。"
    }
   }
  }
 },
 "premiums": [
  {
   "value": 56.3,
   "unit": "percent",
   "as_of_date": "2023-11-22",
   "source": {
    "doc_id": "S100SCYT",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
    "submitted": "2023-11-27",
    "quote": "本公開買付けの公表日の前営業日である2023年11月22日の当社株式の東京証券取引所スタンダード市場における終値5,515円に対して56.30％"
   },
   "basis": "前営業日終値",
   "basis_en": "Closing price on the business day before announcement"
  },
  {
   "value": 49.39,
   "unit": "percent",
   "as_of_date": "2023-11-22",
   "source": {
    "doc_id": "S100SCYT",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
    "submitted": "2023-11-27",
    "quote": "同日までの過去１ヶ月間(2023年10月23日から同年11月22日まで)の終値単純平均値5,770円に対して49.39％"
   },
   "basis": "過去1ヶ月間の終値単純平均値",
   "basis_en": "1-month simple average closing price"
  },
  {
   "value": 44.29,
   "unit": "percent",
   "as_of_date": "2023-11-22",
   "source": {
    "doc_id": "S100SCYT",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
    "submitted": "2023-11-27",
    "quote": "同過去３ヶ月間(2023年８月23日から同年11月22日まで)の終値単純平均値5,974円に対して44.29％"
   },
   "basis": "過去3ヶ月間の終値単純平均値",
   "basis_en": "3-month simple average closing price"
  },
  {
   "value": 50.38,
   "unit": "percent",
   "as_of_date": "2023-11-22",
   "source": {
    "doc_id": "S100SCYT",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
    "submitted": "2023-11-27",
    "quote": "同過去６ヶ月間(2023年５月23日から同年11月22日まで)の終値単純平均値5,732円に対して50.38％"
   },
   "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": "delist",
   "source": {
    "doc_id": "S100SCYT",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
    "submitted": "2023-11-27",
    "quote": "当社株式を非公開化することを目的とした取引(以下「本取引」といいます。)の一環として、本公開買付けを実施することを2023年11月24日に決定したとのことです。"
   }
  },
  "discount_tob": {
   "value": false,
   "source": null
  },
  "acquirer_type": {
   "value": "management",
   "source": {
    "doc_id": "S100SCYT",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
    "submitted": "2023-11-27",
    "quote": "本取引は、いわゆるマネジメント・バイアウト(ＭＢＯ)(注３)に該当し"
   }
  },
  "auction": {
   "value": false,
   "source": null
  },
  "competing_offer": {
   "value": false,
   "source": null
  },
  "special_committee": {
   "value": true,
   "source": {
    "doc_id": "S100SCYT",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
    "submitted": "2023-11-27",
    "quote": "2023年９月15日開催の取締役会において、本取引の提案を検討するための本特別委員会を設置しました。"
   }
  },
  "sc_own_valuer": null,
  "fairness_opinions": [],
  "proposals": [
   {
    "date": "2023-11-15",
    "price": 8900,
    "proposer": "target_or_committee",
    "source": {
     "doc_id": "S100SCYT",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
     "submitted": "2023-11-27",
     "quote": "これに対し、提案者は当社から、2023年11月15日、近年のＭＢＯ案件のプレミアム水準や、大和証券による当社の株式価値の試算結果等を勘案し、本公開買付価格を8,900円とすることに加え、マジョリティ・オブ・マイノリティ条件の設定に関する提案者の考えを説明することを要請する旨の回答書を受領しました。"
    }
   },
   {
    "date": null,
    "price": 7400,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100SCYT",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
     "submitted": "2023-11-27",
     "quote": "当初、提案者からは、当社株式１株当たり7,400円との公開買付価格が提示されたところ"
    }
   },
   {
    "date": "2023-10-30",
    "price": 7600,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100SCYT",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
     "submitted": "2023-11-27",
     "quote": "提案者は、2023年10月30日、本公開買付価格を7,600円"
    }
   },
   {
    "date": "2023-11-02",
    "price": 7800,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100SCYT",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
     "submitted": "2023-11-27",
     "quote": "2023年11月２日、提案者は、本公開買付価格を7,800円"
    }
   },
   {
    "date": null,
    "price": 8050,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100SCYT",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
     "submitted": "2023-11-27",
     "quote": "本公開買付価格を8,050円"
    }
   },
   {
    "date": null,
    "price": 8450,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100SCYT",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
     "submitted": "2023-11-27",
     "quote": "本公開買付価格の提案価格を引き上げ、本公開買付価格を8,450円"
    }
   },
   {
    "date": "2023-11-21",
    "price": 8620,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100SCYT",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
     "submitted": "2023-11-27",
     "quote": "2023年11月21日、提案者は、当社取締役会の意見を最大限尊重し、改めて当社の財務状況等を十分に考慮し議論を重ねるとともに当社の2024年３月期の期末配当金額相当分も考慮した最終提案として、本公開買付価格を8,620円"
    }
   }
  ],
  "initial_offer": 7400,
  "offer_raise_pct": 16.49,
  "offer_rounds": 6,
  "negotiation_excluded": null,
  "category": "delisting",
  "category_basis": "filing"
 },
 "valuations": [
  {
   "valuator": "大和証券株式会社",
   "valuator_as_written": "大和証券株式会社",
   "valuator_en": "Daiwa Securities Co., Ltd.",
   "side": "target",
   "method": "dcf",
   "method_label": "ＤＣＦ法",
   "method_en": "DCF method",
   "metrics": {
    "per_share_value": {
     "low": 8117,
     "high": 9594,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100SCYT",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
      "submitted": "2023-11-27",
      "quote": "ＤＣＦ法 ：8,117円～9,594円"
     }
    }
   },
   "segments": [
    {
     "name": "日本",
     "name_en": "Japan",
     "metrics": {
      "discount_rate": {
       "low": 6.5,
       "high": 7.5,
       "unit": "percent",
       "source": {
        "doc_id": "S100SCYT",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
        "submitted": "2023-11-27",
        "quote": "日本：6.5％～7.5％"
       }
      },
      "perpetual_growth_rate": {
       "low": 0,
       "high": 1,
       "unit": "percent",
       "source": {
        "doc_id": "S100SCYT",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
        "submitted": "2023-11-27",
        "quote": "永久成長率を日本：0.0％～1.0％"
       }
      }
     }
    },
    {
     "name": "ＵＰＳＡ(フランス事業)",
     "name_en": "UPSA (France business)",
     "metrics": {
      "discount_rate": {
       "low": 9.2,
       "high": 11.2,
       "unit": "percent",
       "source": {
        "doc_id": "S100SCYT",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
        "submitted": "2023-11-27",
        "quote": "ＵＰＳＡ(フランス事業)：9.2％～11.2％"
       }
      },
      "perpetual_growth_rate": {
       "low": 1,
       "high": 2,
       "unit": "percent",
       "source": {
        "doc_id": "S100SCYT",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
        "submitted": "2023-11-27",
        "quote": "ＵＰＳＡ(フランス事業)：1.0％～2.0％"
       }
      }
     }
    },
    {
     "name": "ＵＰＳＡ(フランス国外事業)",
     "name_en": "UPSA (non-France business)",
     "metrics": {
      "discount_rate": {
       "low": 13.2,
       "high": 15.2,
       "unit": "percent",
       "source": {
        "doc_id": "S100SCYT",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
        "submitted": "2023-11-27",
        "quote": "ＵＰＳＡ(フランス国外事業)：13.2％～15.2％"
       }
      },
      "perpetual_growth_rate": {
       "low": 1.5,
       "high": 2.5,
       "unit": "percent",
       "source": {
        "doc_id": "S100SCYT",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
        "submitted": "2023-11-27",
        "quote": "ＵＰＳＡ(フランス国外事業)：1.5％～2.5％"
       }
      }
     }
    },
    {
     "name": "ハウザン製薬",
     "name_en": "Hauzan Pharmaceutical",
     "metrics": {
      "discount_rate": {
       "low": 12.5,
       "high": 14.5,
       "unit": "percent",
       "source": {
        "doc_id": "S100SCYT",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
        "submitted": "2023-11-27",
        "quote": "：12.5％～14.5％"
       }
      },
      "perpetual_growth_rate": {
       "low": 2.5,
       "high": 3.5,
       "unit": "percent",
       "source": {
        "doc_id": "S100SCYT",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
        "submitted": "2023-11-27",
        "quote": "ハウザン製薬：2.5％～3.5％"
       }
      }
     }
    },
    {
     "name": "その他海外事業",
     "name_en": "Other overseas businesses",
     "metrics": {
      "discount_rate": {
       "low": 8.1,
       "high": 10.1,
       "unit": "percent",
       "source": {
        "doc_id": "S100SCYT",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
        "submitted": "2023-11-27",
        "quote": "その他海外事業：8.1％～10.1％"
       }
      },
      "perpetual_growth_rate": {
       "low": 1,
       "high": 2,
       "unit": "percent",
       "source": {
        "doc_id": "S100SCYT",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
        "submitted": "2023-11-27",
        "quote": "その他海外事業：1.0％～2.0％として算定しております"
       }
      }
     }
    }
   ]
  },
  {
   "valuator": "大和証券株式会社",
   "valuator_as_written": "大和証券株式会社",
   "valuator_en": "Daiwa Securities Co., Ltd.",
   "side": "target",
   "method": "market_price",
   "method_label": "市場株価法",
   "method_en": "Market price method",
   "metrics": {
    "per_share_value": {
     "low": 5515,
     "high": 5974,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100SCYT",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf",
      "submitted": "2023-11-27",
      "quote": "市場株価法 ：5,515円～5,974円"
     }
    }
   }
  }
 ],
 "timeline": [
  {
   "date": "2023-11-27",
   "doc_id": "S100SCY9",
   "doc_type_code": "240",
   "doc_type": "公開買付届出書",
   "filer": "大手門株式会社",
   "filer_en": "Otemon Co., Ltd.",
   "description": "公開買付届出書",
   "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCY9.pdf"
  },
  {
   "date": "2023-11-27",
   "doc_id": "S100SCYT",
   "doc_type_code": "290",
   "doc_type": "意見表明報告書",
   "filer": "大正製薬ホールディングス株式会社",
   "filer_en": "TAISHO PHARMACEUTICAL HOLDINGS CO., LTD.",
   "description": "意見表明報告書",
   "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100SCYT.pdf"
  },
  {
   "date": "2024-01-16",
   "doc_id": "S100SMW0",
   "doc_type_code": "270",
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