{
 "schema_version": 1,
 "id": "5484-20260518",
 "type": "TOB",
 "status": "completed",
 "announced_date": "2026-05-18",
 "target": {
  "edinet_code": "E01245",
  "sec_code": "5484",
  "name": "東北特殊鋼株式会社",
  "name_en": "Tohoku Steel Co.,Ltd.",
  "industry": "鉄鋼",
  "industry_en": "Iron & Steel"
 },
 "acquirer": {
  "edinet_code": "E01239",
  "sec_code": "5471",
  "name": "大同特殊鋼株式会社",
  "name_en": "Daido Steel Co., Ltd.",
  "industry": "鉄鋼",
  "industry_en": "Iron & Steel"
 },
 "anchor_doc_id": "S100Y4OS",
 "needs_review": false,
 "review_reason": null,
 "terms": {
  "tender_price": {
   "history": [
    {
     "value": 4491,
     "unit": "yen",
     "as_of_date": null,
     "source": {
      "doc_id": "S100Y4OS",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4OS.pdf",
      "submitted": "2026-05-18",
      "quote": "本公開買付価格を4,491円（本公開買付価格の詳細については、下記「② 買付け等の価格の算定の経緯及び基礎」をご参照ください。）として本公開買付けを実施することを決議いたしました。"
     }
    }
   ],
   "latest": {
    "value": 4491,
    "unit": "yen",
    "as_of_date": null,
    "source": {
     "doc_id": "S100Y4OS",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4OS.pdf",
     "submitted": "2026-05-18",
     "quote": "本公開買付価格を4,491円（本公開買付価格の詳細については、下記「② 買付け等の価格の算定の経緯及び基礎」をご参照ください。）として本公開買付けを実施することを決議いたしました。"
    }
   }
  }
 },
 "premiums": [
  {
   "value": 95.01,
   "unit": "percent",
   "as_of_date": "2026-05-14",
   "source": {
    "doc_id": "S100Y4SF",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
    "submitted": "2026-05-18",
    "quote": "2026年５月14日の東京証券取引所スタンダード市場における当社株式の終値2,303円に対して95.01％"
   },
   "basis": "前営業日終値",
   "basis_en": "Closing price on the business day before announcement"
  },
  {
   "value": 97.93,
   "unit": "percent",
   "as_of_date": "2026-05-14",
   "source": {
    "doc_id": "S100Y4SF",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
    "submitted": "2026-05-18",
    "quote": "同日までの過去１ヶ月間の終値の単純平均値2,269円に対して97.93％"
   },
   "basis": "過去1ヶ月間の終値単純平均値",
   "basis_en": "1-month simple average closing price"
  },
  {
   "value": 99.96,
   "unit": "percent",
   "as_of_date": "2026-05-14",
   "source": {
    "doc_id": "S100Y4SF",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
    "submitted": "2026-05-18",
    "quote": "同過去３ヶ月間の終値の単純平均値2,246円に対して99.96％"
   },
   "basis": "過去3ヶ月間の終値単純平均値",
   "basis_en": "3-month simple average closing price"
  },
  {
   "value": 105.73,
   "unit": "percent",
   "as_of_date": "2026-05-14",
   "source": {
    "doc_id": "S100Y4SF",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
    "submitted": "2026-05-18",
    "quote": "同過去６ヶ月間の終値の単純平均値2,183円に対して105.73％"
   },
   "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": "S100Y4SF",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
    "submitted": "2026-05-18",
    "quote": "本現物配当及び本スクイーズアウト手続後、本残存株式について、当社株式の上場廃止後の2026年10月上旬頃に本自己株式取得を実施し、当社の株主を公開買付者のみとすることを予定しているとのことです。"
   }
  },
  "discount_tob": {
   "value": false,
   "source": null
  },
  "acquirer_type": {
   "value": "parent",
   "source": {
    "doc_id": "S100Y4SF",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
    "submitted": "2026-05-18",
    "quote": "公開買付者は、当社の支配株主には該当しないものの、公開買付者が当社株式2,549,500株（所有割合：34.32％）を所有して当社を持分法適用関連会社とする、当社のその他の関係会社であること等を踏まえ"
   }
  },
  "auction": {
   "value": false,
   "source": {
    "doc_id": "S100Y4SF",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
    "submitted": "2026-05-18",
    "quote": "本取引に当たっては、市場における潜在的な買収者の有無を調査・検討する、いわゆる積極的なマーケット・チェックは実施されていない"
   }
  },
  "competing_offer": {
   "value": false,
   "source": null
  },
  "special_committee": {
   "value": true,
   "source": {
    "doc_id": "S100Y4SF",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
    "submitted": "2026-05-18",
    "quote": "公開買付者及び当社並びに本取引の成否のいずれからも独立した特別委員会（以下「本特別委員会」といいます。）"
   }
  },
  "sc_own_valuer": null,
  "fairness_opinions": [],
  "proposals": [
   {
    "date": "2025-08-06",
    "price": 4000,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100Y4SF",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
     "submitted": "2026-05-18",
     "quote": "公開買付者は、2025年８月６日、当社に対して本公開買付価格を4,000円"
    }
   },
   {
    "date": "2026-04-21",
    "price": 4436,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100Y4SF",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
     "submitted": "2026-05-18",
     "quote": "同月21日、当社に対して、本取引のストラクチャーについて、本自己株式取得の実施を予定していること、本自己株式取得に伴うみなし配当の益金不算入を踏まえた税効果を一般株主にも享受させる観点から、１株当たりの株式価値4,050円及び本公開買付価格を4,436円"
    }
   },
   {
    "date": "2026-04-30",
    "price": 4491,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100Y4SF",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
     "submitted": "2026-05-18",
     "quote": "公開買付者は、2026年４月30日、当社に対して、１株当たりの株式価値4,100円及び本公開買付価格を4,491円"
    }
   },
   {
    "date": "2026-05-11",
    "price": 4491,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100Y4SF",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
     "submitted": "2026-05-18",
     "quote": "公開買付者は、2026年５月11日、当社に対して、2026年５月７日付協議（光通信グループ）（以下で定義します。）を踏まえて、取引ストラクチャーの前提条件の一部を変更したうえで、１株あたり株式価値4,156円及び本公開買付価格を4,491円"
    }
   }
  ],
  "initial_offer": 4000,
  "offer_raise_pct": 12.27,
  "offer_rounds": 3,
  "negotiation_excluded": null,
  "category": "delisting",
  "category_basis": "filing"
 },
 "valuations": [
  {
   "valuator": "みずほ証券株式会社",
   "valuator_as_written": "みずほ証券",
   "valuator_en": "Mizuho Securities Co., Ltd.",
   "side": "acquirer",
   "method": "comparable",
   "method_label": "類似企業比較法",
   "method_en": "Comparable companies method",
   "metrics": {
    "per_share_value": {
     "low": 2923,
     "high": 3640,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100Y4SF",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
      "submitted": "2026-05-18",
      "quote": "類似企業比較法：2,923円から3,640円"
     }
    }
   }
  },
  {
   "valuator": "みずほ証券株式会社",
   "valuator_as_written": "みずほ証券",
   "valuator_en": "Mizuho Securities Co., Ltd.",
   "side": "acquirer",
   "method": "dcf",
   "method_label": "ＤＣＦ法",
   "method_en": "DCF method",
   "metrics": {
    "per_share_value": {
     "low": 3354,
     "high": 4549,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100Y4SF",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
      "submitted": "2026-05-18",
      "quote": "ＤＣＦ法 ：3,354円から4,549円"
     }
    }
   }
  },
  {
   "valuator": "みずほ証券株式会社",
   "valuator_as_written": "みずほ証券",
   "valuator_en": "Mizuho Securities Co., Ltd.",
   "side": "acquirer",
   "method": "market_price",
   "method_label": "市場株価基準法",
   "method_en": "Market price method",
   "metrics": {
    "per_share_value": {
     "low": 2183,
     "high": 2303,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100Y4SF",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
      "submitted": "2026-05-18",
      "quote": "市場株価基準法：2,183円から2,303円"
     }
    }
   }
  },
  {
   "valuator": "山田コンサルティンググループ株式会社",
   "valuator_as_written": "山田コンサルティンググループ株式会社",
   "valuator_en": "Yamada Consulting Group Co., Ltd.",
   "side": "target",
   "method": "dcf",
   "method_label": "ＤＣＦ法",
   "method_en": "DCF method",
   "metrics": {
    "per_share_value": {
     "low": 3890,
     "high": 4654,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100Y4SF",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
      "submitted": "2026-05-18",
      "quote": "ＤＣＦ法 ：3,890円から4,654円"
     }
    },
    "perpetual_growth_rate": {
     "low": 0,
     "high": 1,
     "unit": "percent",
     "source": {
      "doc_id": "S100Y4SF",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
      "submitted": "2026-05-18",
      "quote": "永久成長率を0.00％から1.00％として"
     }
    }
   },
   "segments": [
    {
     "name": "特殊鋼事業",
     "name_en": "Special steel business",
     "metrics": {
      "discount_rate": {
       "low": 7.68,
       "high": 8.68,
       "unit": "percent",
       "source": {
        "doc_id": "S100Y4SF",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
        "submitted": "2026-05-18",
        "quote": "特殊鋼事業では7.68％から8.68％"
       }
      }
     }
    },
    {
     "name": "不動産賃貸事業",
     "name_en": "Real estate leasing business",
     "metrics": {
      "discount_rate": {
       "low": 5.44,
       "high": 6.44,
       "unit": "percent",
       "source": {
        "doc_id": "S100Y4SF",
        "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
        "submitted": "2026-05-18",
        "quote": "不動産賃貸事業では5.44％から6.44％"
       }
      }
     }
    }
   ]
  },
  {
   "valuator": "山田コンサルティンググループ株式会社",
   "valuator_as_written": "山田コンサルティンググループ株式会社",
   "valuator_en": "Yamada Consulting Group Co., Ltd.",
   "side": "target",
   "method": "market_price",
   "method_label": "市場株価法",
   "method_en": "Market price method",
   "metrics": {
    "per_share_value": {
     "low": 2184,
     "high": 2303,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100Y4SF",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf",
      "submitted": "2026-05-18",
      "quote": "市場株価法：2,184円から2,303円"
     }
    }
   }
  }
 ],
 "timeline": [
  {
   "date": "2026-05-18",
   "doc_id": "S100Y4OS",
   "doc_type_code": "240",
   "doc_type": "公開買付届出書",
   "filer": "大同特殊鋼株式会社",
   "filer_en": "Daido Steel Co., Ltd.",
   "description": "公開買付届出書",
   "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4OS.pdf"
  },
  {
   "date": "2026-05-18",
   "doc_id": "S100Y4SF",
   "doc_type_code": "290",
   "doc_type": "意見表明報告書",
   "filer": "東北特殊鋼株式会社",
   "filer_en": "Tohoku Steel Co.,Ltd.",
   "description": "意見表明報告書",
   "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100Y4SF.pdf"
  },
  {
   "date": "2026-06-30",
   "doc_id": "S100YNSH",
   "doc_type_code": "270",
   "doc_type": "公開買付報告書",
   "filer": "大同特殊鋼株式会社",
   "filer_en": "Daido Steel Co., Ltd.",
   "description": "公開買付報告書",
   "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100YNSH.pdf"
  }
 ],
 "related": [],
 "flags": [],
 "unverified_count": 0
}