{
 "schema_version": 1,
 "id": "5659-20211201",
 "type": "TOB",
 "status": "completed",
 "announced_date": "2021-12-01",
 "target": {
  "edinet_code": "E01280",
  "sec_code": "5659",
  "name": "日本精線株式会社",
  "name_en": "Nippon Seisen 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": "S100MZ74",
 "needs_review": false,
 "review_reason": null,
 "terms": {
  "tender_price": {
   "history": [
    {
     "value": 5300,
     "unit": "yen",
     "as_of_date": null,
     "source": {
      "doc_id": "S100MZ74",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ74.pdf",
      "submitted": "2021-12-01",
      "quote": "本公開買付価格である5,300円は、本公開買付けの公表日の前営業日である2021年11月29日の東京証券取引所市場第一部における対象者株式の終値4,355円に対して21.70％"
     }
    }
   ],
   "latest": {
    "value": 5300,
    "unit": "yen",
    "as_of_date": null,
    "source": {
     "doc_id": "S100MZ74",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ74.pdf",
     "submitted": "2021-12-01",
     "quote": "本公開買付価格である5,300円は、本公開買付けの公表日の前営業日である2021年11月29日の東京証券取引所市場第一部における対象者株式の終値4,355円に対して21.70％"
    }
   }
  },
  "period_business_days": {
   "history": [
    {
     "value": 30,
     "unit": "business_days",
     "as_of_date": null,
     "source": {
      "doc_id": "S100MZ74",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ74.pdf",
      "submitted": "2021-12-01",
      "quote": "法令に定められた最短期間が20営業日であるところ、30営業日に設定しております。"
     }
    }
   ],
   "latest": {
    "value": 30,
    "unit": "business_days",
    "as_of_date": null,
    "source": {
     "doc_id": "S100MZ74",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ74.pdf",
     "submitted": "2021-12-01",
     "quote": "法令に定められた最短期間が20営業日であるところ、30営業日に設定しております。"
    }
   }
  },
  "min_shares": {
   "history": [
    {
     "value": 441400,
     "unit": "shares",
     "as_of_date": null,
     "source": {
      "doc_id": "S100MZ74",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ74.pdf",
      "submitted": "2021-12-01",
      "quote": "応募株券等の数の合計が買付予定数の下限(441,400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": 441400,
    "unit": "shares",
    "as_of_date": null,
    "source": {
     "doc_id": "S100MZ74",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ74.pdf",
     "submitted": "2021-12-01",
     "quote": "応募株券等の数の合計が買付予定数の下限(441,400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": 496600,
     "unit": "shares",
     "as_of_date": null,
     "source": {
      "doc_id": "S100MZ74",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ74.pdf",
      "submitted": "2021-12-01",
      "quote": "応募株券等の数の合計が買付予定数の上限(496,600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を行わないものとし"
     }
    }
   ],
   "latest": {
    "value": 496600,
    "unit": "shares",
    "as_of_date": null,
    "source": {
     "doc_id": "S100MZ74",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ74.pdf",
     "submitted": "2021-12-01",
     "quote": "応募株券等の数の合計が買付予定数の上限(496,600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を行わないものとし"
    }
   }
  },
  "tendered_shares": {
   "history": [
    {
     "value": 1318458,
     "unit": "shares",
     "as_of_date": null,
     "source": {
      "doc_id": "S100N92H",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100N92H.pdf",
      "submitted": "2022-01-19",
      "quote": "応募株券等」といいます。)の数の合計(1,318,458株)"
     }
    }
   ],
   "latest": {
    "value": 1318458,
    "unit": "shares",
    "as_of_date": null,
    "source": {
     "doc_id": "S100N92H",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100N92H.pdf",
     "submitted": "2022-01-19",
     "quote": "応募株券等」といいます。)の数の合計(1,318,458株)"
    }
   }
  }
 },
 "premiums": [
  {
   "value": 21.7,
   "unit": "percent",
   "as_of_date": "2021-11-29",
   "source": {
    "doc_id": "S100MZ8I",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
    "submitted": "2021-12-01",
    "quote": "2021年11月29日の当社株式の東京証券取引所市場第一部における終値4,355円に対して21.70％のプレミアム"
   },
   "basis": "前営業日終値",
   "basis_en": "Closing price on the business day before announcement"
  },
  {
   "value": 15.9,
   "unit": "percent",
   "as_of_date": "2021-11-29",
   "source": {
    "doc_id": "S100MZ8I",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
    "submitted": "2021-12-01",
    "quote": "同日までの過去１ヶ月間の終値単純平均値4,573円に対して15.90％のプレミアム"
   },
   "basis": "過去1ヶ月間の終値単純平均値",
   "basis_en": "1-month simple average closing price"
  },
  {
   "value": 9.73,
   "unit": "percent",
   "as_of_date": "2021-11-29",
   "source": {
    "doc_id": "S100MZ8I",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
    "submitted": "2021-12-01",
    "quote": "同過去３ヶ月間の終値単純平均値4,830円に対して9.73％のプレミアム"
   },
   "basis": "過去3ヶ月間の終値単純平均値",
   "basis_en": "3-month simple average closing price"
  },
  {
   "value": 10.67,
   "unit": "percent",
   "as_of_date": "2021-11-29",
   "source": {
    "doc_id": "S100MZ8I",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
    "submitted": "2021-12-01",
    "quote": "同過去６ヶ月間の終値単純平均値4,789円に対して10.67％のプレミアム"
   },
   "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": "S100MZ8I",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
    "submitted": "2021-12-01",
    "quote": "本公開買付けには買付予定数に上限が設定され、本公開買付け後も引き続き当社株式の上場が維持されることから"
   }
  },
  "discount_tob": {
   "value": false,
   "source": null
  },
  "acquirer_type": {
   "value": "parent",
   "source": {
    "doc_id": "S100MZ8I",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
    "submitted": "2021-12-01",
    "quote": "公開買付者が所有する当社における議決権を、大同興業を通じた間接所有分を含めて過半数まで引き上げることを目的としているとのことです。"
   }
  },
  "auction": {
   "value": false,
   "source": null
  },
  "competing_offer": {
   "value": false,
   "source": null
  },
  "special_committee": {
   "value": true,
   "source": {
    "doc_id": "S100MZ8I",
    "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
    "submitted": "2021-12-01",
    "quote": "当社の独立社外取締役である花井健氏及び滝沢正明氏、並びに当社の独立社外監査役である鈴井伸夫氏の３名によって構成される本特別委員会を設置し"
   }
  },
  "sc_own_valuer": null,
  "fairness_opinions": [],
  "proposals": [
   {
    "date": null,
    "price": 6500,
    "proposer": "target_or_committee",
    "source": {
     "doc_id": "S100MZ8I",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
     "submitted": "2021-12-01",
     "quote": "具体的な価格で交渉すべきとして、本公開買付価格を6,500円とする旨を要請しました。"
    }
   },
   {
    "date": "2021-11-02",
    "price": 5000,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100MZ8I",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
     "submitted": "2021-12-01",
     "quote": "公開買付者は、当社からの提案を真摯に検討し、2021年11月２日に、当社に対して本公開買付価格を5,000円とする旨の再提案を行いました。"
    }
   },
   {
    "date": "2021-11-05",
    "price": 6100,
    "proposer": "target_or_committee",
    "source": {
     "doc_id": "S100MZ8I",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
     "submitted": "2021-12-01",
     "quote": "当社は、2021年11月５日に、本公開買付けと類似性を有すると考えられる公開買付け実施前に資本関係があり、上場維持を前提とした公開買付けの他社事例におけるプレミアム水準（約20％～約30％）を考慮し、本公開買付価格を6,100円とする旨を要請しました。"
    }
   },
   {
    "date": "2021-11-15",
    "price": 5100,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100MZ8I",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
     "submitted": "2021-12-01",
     "quote": "公開買付者は、2021年11月15日、本公開買付けの目的、本公開買付けに対する応募の見通し、当社株式の市場価格の動向及びみずほ証券による当社株式の株式価値の試算結果を再度考慮の上、当社に対し、本公開買付価格を5,100円とする旨の再提案を書面にて行いました"
    }
   },
   {
    "date": "2021-11-18",
    "price": 5300,
    "proposer": "target_or_committee",
    "source": {
     "doc_id": "S100MZ8I",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
     "submitted": "2021-12-01",
     "quote": "本公開買付価格を2021年11月18日を基準とした３ヶ月間（2021年８月19日から2021年11月18日まで）の最高値である5,310円近辺である5,300円とする旨の要請をしたところ"
    }
   },
   {
    "date": "2021-11-25",
    "price": 5300,
    "proposer": "acquirer",
    "source": {
     "doc_id": "S100MZ8I",
     "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
     "submitted": "2021-12-01",
     "quote": "公開買付者にておいて改めて慎重に検討を行い、2021年11月25日に、当社に対して本公開買付価格を5,300円とすることに同意する旨の回答を行いました。"
    }
   }
  ],
  "initial_offer": 5000,
  "offer_raise_pct": 6,
  "offer_rounds": 3,
  "negotiation_excluded": null,
  "category": "partial",
  "category_basis": "filing"
 },
 "valuations": [
  {
   "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": "acquirer",
   "method": "comparable",
   "method_label": "類似企業比較法",
   "method_en": "Comparable companies method",
   "metrics": {
    "per_share_value": {
     "low": 3803,
     "high": 7272,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100MZ8I",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
      "submitted": "2021-12-01",
      "quote": "類似企業比較法：3,803円から7,272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": "acquirer",
   "method": "dcf",
   "method_label": "ＤＣＦ法",
   "method_en": "DCF method",
   "metrics": {
    "per_share_value": {
     "low": 5032,
     "high": 8100,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100MZ8I",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
      "submitted": "2021-12-01",
      "quote": "ＤＣＦ法 ：5,032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": "acquirer",
   "method": "market_price",
   "method_label": "市場株価基準法",
   "method_en": "Market price method",
   "metrics": {
    "per_share_value": {
     "low": 4355,
     "high": 4830,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100MZ8I",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
      "submitted": "2021-12-01",
      "quote": "市場株価基準法：4,355円から4,830円"
     }
    }
   }
  },
  {
   "valuator": "SMBC日興証券株式会社",
   "valuator_as_written": "SMBC日興証券株式会社",
   "valuator_en": "SMBC Nikko Securities Inc.",
   "side": "target",
   "method": "comparable",
   "method_label": "類似上場会社比較法",
   "method_en": "Comparable companies method",
   "metrics": {
    "per_share_value": {
     "low": 5550,
     "high": 6577,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100MZ8I",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
      "submitted": "2021-12-01",
      "quote": "類似上場会社比較法 5,550円から6,577円"
     }
    }
   }
  },
  {
   "valuator": "SMBC日興証券株式会社",
   "valuator_as_written": "SMBC日興証券株式会社",
   "valuator_en": "SMBC Nikko Securities Inc.",
   "side": "target",
   "method": "dcf",
   "method_label": "ＤＣＦ法",
   "method_en": "DCF method",
   "metrics": {
    "per_share_value": {
     "low": 4824,
     "high": 9071,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100MZ8I",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
      "submitted": "2021-12-01",
      "quote": "ＤＣＦ法 4,824円から9,071円"
     }
    },
    "discount_rate": {
     "low": 7.06,
     "high": 8.62,
     "unit": "percent",
     "source": {
      "doc_id": "S100MZ8I",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
      "submitted": "2021-12-01",
      "quote": "割引率は、加重平均資本コスト（WACC：Weighted Average Cost of Capital）とし、7.06％～8.62％を使用しております。"
     }
    },
    "perpetual_growth_rate": {
     "low": -0.25,
     "high": 0.25,
     "unit": "percent",
     "source": {
      "doc_id": "S100MZ8I",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
      "submitted": "2021-12-01",
      "quote": "具体的には永久成長法では永久成長率として－0.25％～0.25％を使用し"
     }
    }
   }
  },
  {
   "valuator": "SMBC日興証券株式会社",
   "valuator_as_written": "SMBC日興証券株式会社",
   "valuator_en": "SMBC Nikko Securities Inc.",
   "side": "target",
   "method": "market_price",
   "method_label": "市場株価平均法",
   "method_en": "Market price method",
   "metrics": {
    "per_share_value": {
     "low": 4573,
     "high": 4830,
     "unit": "yen_per_share",
     "source": {
      "doc_id": "S100MZ8I",
      "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf",
      "submitted": "2021-12-01",
      "quote": "市場株価平均法 4,573円から4,830円"
     }
    }
   }
  }
 ],
 "timeline": [
  {
   "date": "2021-12-01",
   "doc_id": "S100MZ74",
   "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/S100MZ74.pdf"
  },
  {
   "date": "2021-12-01",
   "doc_id": "S100MZ8I",
   "doc_type_code": "290",
   "doc_type": "意見表明報告書",
   "filer": "日本精線株式会社",
   "filer_en": "Nippon Seisen Co., Ltd.",
   "description": "意見表明報告書",
   "doc_url": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100MZ8I.pdf"
  },
  {
   "date": "2022-01-19",
   "doc_id": "S100N92H",
   "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/S100N92H.pdf"
  }
 ],
 "related": [],
 "flags": [],
 "unverified_count": 0
}