Kakaku.com, Inc. provides purchase support, restaurant review, and other services in Japan through its subsidiaries. Its platforms include Kakaku.com, which offers prices, specifications, and user reviews for products and services such as computers, home appliances, smartphones, furniture, internet providers, insurance, and loans; and Tabelog.com, a restaurant discovery and reservation site. The company also operates services including Kyujin Box, Sumaity, 4 travel, Kakaku.com Insurance, Time Design, icotto, Bus Hikaku Navi, Tabi Hikaku Navi, Kakuyasu Idou, Bus Trip, Kinarino, LiPLUS, PHOTOHITO, webCG, Tabelog Kyujin, and Jobcube. Founded in 1997, it is headquartered in Tokyo, Japan.
Bidding war for Kakaku.com intensifies with higher offers
▲
Oasis backs LINE Yahoo/Bain bid Major shareholder Oasis, with a 19.52% stake, agreed to tender all its shares in the LINE Yahoo-Bain offer at up to 3,500 yen. This support makes a competing deal more likely, pushing the stock up as investors see a higher payout.
This is a new event that increases the probability of a higher bid, directly lifting the stock.
▲
EQT raises offer to 3,450 yen EQT increased its tender offer price from 3,000 to 3,450 yen and extended the deadline to August 3. This higher bid raises the floor for shareholders and signals a competitive process, supporting the stock price.
A new higher offer from EQT directly raises the expected acquisition price, a positive for the stock.
▲
Bain and LY consider even higher bid Bain Capital and LY Corp. are weighing a fresh joint offer that could exceed EQT's 3,450 yen. News of a potential higher bid drove shares up nearly 60% this year, as investors anticipate a bidding war.
This new development suggests further price escalation, boosting investor optimism.
▲
EQT raises offer again to 3,570 yen EQT lifted its tender offer price a second time to 3,570 yen and extended the deadline to August 27. This latest increase in the bidding war continues to push the stock higher as shareholders expect even more.
The newest higher bid directly raises the potential payout, a clear positive for the stock.
Q3 2026
▲4
Bidding war for Kakaku.com intensifies with higher offers
▲
Oasis backs LINE Yahoo/Bain bid Major shareholder Oasis, with a 19.52% stake, agreed to tender all its shares in the LINE Yahoo-Bain offer at up to 3,500 yen. This support makes a competing deal more likely, pushing the stock up as investors see a higher payout.
This is a new event that increases the probability of a higher bid, directly lifting the stock.
▲
EQT raises offer to 3,450 yen EQT increased its tender offer price from 3,000 to 3,450 yen and extended the deadline to August 3. This higher bid raises the floor for shareholders and signals a competitive process, supporting the stock price.
A new higher offer from EQT directly raises the expected acquisition price, a positive for the stock.
▲
Bain and LY consider even higher bid Bain Capital and LY Corp. are weighing a fresh joint offer that could exceed EQT's 3,450 yen. News of a potential higher bid drove shares up nearly 60% this year, as investors anticipate a bidding war.
This new development suggests further price escalation, boosting investor optimism.
▲
EQT raises offer again to 3,570 yen EQT lifted its tender offer price a second time to 3,570 yen and extended the deadline to August 27. This latest increase in the bidding war continues to push the stock higher as shareholders expect even more.
The newest higher bid directly raises the potential payout, a clear positive for the stock.
News & notes moving2371.JP
JapanEuropean Union
2371.JP▲
EQT raises Kakaku.com tender offer price to 3,681 yen, extends period to October 14
European investment firm EQT announced on the 29th that it will raise the price of its tender offer for Kakaku.com shares from 3,680 yen per share to 3,681 yen. It will also extend the tender offer period, initially set to end on the 29th, until October 14.
Kakaku.com and KDDI End Capital Alliance, Business Tie-Up to Continue
Kakaku.com announced on the 28th that it will dissolve its capital alliance with KDDI. While the agreement concerning the acceptance of director candidates nominated by KDDI will lapse, the two companies have agreed to continue their business partnership, and KDDI will maintain its position as the second-largest shareholder, holding 17.70 percent of Kakaku.com's outstanding shares. The two companies concluded a capital alliance agreement in August 2018, and after repeated discussions over changes in capital structure, including the ongoing tender offer for Kakaku.com shares, and over future management policy, they agreed this time to a amicable dissolution. The outside director dispatched by KDDI has already retired upon the conclusion of the ordinary general meeting of shareholders held in June. Business cooperation will continue, including joint development and provision of new services and collaboration and coordination to promote the internet advertising and digital marketing businesses. Kakaku.com said the direct impact of the dissolution of the capital alliance on its consolidated results for the fiscal year ending March 2027 will be minor.
2371.JP · Capital · Neutral Kakaku.com dissolves its capital alliance with KDDI, though KDDI keeps its 17.70% stake and business partnership continues, with only minor impact on results.
9433.JP · Capital · Neutral KDDI ends its capital alliance with Kakaku.com and lets its director nomination agreement lapse, but retains its 17.70% shareholding and continues business cooperation.
LINE Yahoo and Bain Raise Kakaku.com Tender Offer Price Again to 3,597–3,720 Yen
LINE Yahoo and U.S. investment fund Bain Capital announced on the 16th that they have raised their tender offer price for Kakaku.com, which operates the restaurant review site Tabelog, from 3,520–3,640 yen per share to 3,597–3,720 yen. The move is a counter-bid in response to Sweden's EQT, which is pursuing a tender offer at 3,680 yen. In the battle for control of Kakaku.com, EQT announced its tender offer in May, and after LINE Yahoo formally proposed an acquisition on July 1, both camps have repeatedly raised their tender offer prices.
2371.JP · Capital · Positive Kakaku.com is the target of a bidding war, with LINE Yahoo/Bain raising their tender offer price to 3,597–3,720 yen.
4689.JP · Capital · Positive LY Corporation (LINE Yahoo) raised its tender offer price for Kakaku.com to 3,597–3,720 yen as part of its acquisition bid.
LINE Yahoo raises Kakaku.com tender offer price to 3,720 yen
LINE Yahoo announced on the 16th that it will raise the price of its proposed tender offer for Kakaku.com from 3,640 yen per share to 3,720 yen. This is the purchase price if it secures the cooperation of KDDI, Kakaku.com's major shareholder; if that cooperation is not obtained, the price has been raised from 3,520 yen per share to 3,597 yen. Regarding Kakaku.com, the European investment firm EQT is already conducting a tender offer, and on the 10th EQT extended its tender offer period to September 29 and raised its purchase price from 3,571 yen per share to 3,680 yen.
EQT raises Kakaku.com tender offer price to 3,571 yen, extends period
Swedish investment fund EQT announced on the 27th that it will raise its tender offer price for Kakaku.com, which operates the gourmet site Tabelog, by 1 yen to 3,571 yen. This is the third price increase, and the tender offer period, which was set to end on the same day, has been extended to September 10. EQT explained that it aims to 'provide shareholders with a more attractive selling opportunity and increase the likelihood of the tender offer's success.' In the battle for Kakaku.com, LINE Yahoo has also proposed a joint acquisition with U.S. investment fund Bain Capital, leading to a bidding war. EQT initially launched the tender offer at 3,000 yen in May but has gradually raised the price in response to LINE Yahoo's proposal.
Oasis says it will not support buyout offer below 3,640 yen per share for Kakaku.com
Hong Kong fund Oasis Management said on the 19th that among multiple buyout proposals for Kakaku.com, in which it holds about 19.5% of shares, the tender offer of up to 3,640 yen per share currently proposed by the LINE Yahoo consortium is the best option for minority shareholders. It also said that as long as the price of the rival tender offer by European investment firm EQT, at 3,570 yen, is below the LINE Yahoo camp's offer, it has no intention of tendering its shares to EQT. Kakaku.com has expressed support for EQT's buyout proposal, and on the 13th the price was raised from 3,450 yen to 3,570 yen per share. LINE Yahoo, teaming up with US investment fund Bain Capital, set the purchase price at 3,520 yen per share if it launches a tender offer for Kakaku.com, and at 3,640 yen if it signs an agreement under which major shareholder KDDI will not tender. LINE Yahoo has made Kakaku.com's expression of support a condition for launching the tender offer. KDDI has already signed a non-tender agreement with EQT, and can tender to a rival offer only if that rival offer is launched at a price more than 2% above EQT's tender offer price. For this reason, Kakaku.com regards the 3,640 yen price as unfeasible, but Oasis said that if EQT's tender offer fails, the main obligations under the existing contract would lapse, making a tender offer at 3,640 yen feasible. It also called on Kakaku.com to take steps such as withdrawing its support for EQT's proposal.
EQT Raises Tender Offer Price for Kakaku.com to 3,570 Yen
Swedish investment fund EQT announced on the 13th that it has raised its tender offer price for Kakaku.com to 3,570 yen per share. This is the second increase, and the tender offer period has also been extended to the 27th. Regarding Kakaku.com, LINE Yahoo has also proposed an acquisition together with U.S. investment fund Bain Capital, making it a bidding war.
EQT Extends Tender Offer for Kakaku.com Again to August 17
European investment firm EQT announced on the 31st that it has extended the tender offer period for Kakaku.com from the previous deadline of August 3 to August 17. EQT launched the tender offer on May 13, and on July 17 raised the offer price from 3,000 yen to 3,450 yen per share while extending the period from July 22 to August 3. Meanwhile, LINE Yahoo, which has also made a takeover proposal, announced on the 29th that it would raise its offer price to 3,520 yen per share in partnership with US investment fund Bain Capital if it proceeds with a tender offer, and that the price would be raised from 3,500 yen to 3,640 yen per share if major shareholder KDDI agrees not to tender its shares. Kakaku.com's closing price on the 31st was 3,690 yen, up 0.22 percent from the previous trading day.
Bain and LY Weigh Higher Kakaku Bid as Shares Jump Nearly 60%
Bain Capital and LY Corp. are considering a fresh joint takeover offer for Kakaku.com that would likely exceed EQT AB's 3,450 per-share bid. People familiar with the discussions said a proposal could be presented within days, though no final decision has been made. Kakaku.com shares have climbed almost 60% this year, giving the company a market value of approximately $4.5 billion. EQT has extended its tender-offer period until August 3 and is in talks with shareholder Oasis Management, while Kakaku.com continues to support EQT's offer. Bain Capital and Kakaku.com declined to comment, and LY Corp. did not respond to a request for comment.
EQT Consortium Raises Tender Offer Price for Kakaku.com to JPY 3,450 Per Share
The EQT-led consortium has raised its tender offer price for Kakaku.com to JPY 3,450 per share, exceeding the JPY 3,384 price in a competing proposal. The revised price, up from the original JPY 3,000 per share, aims to reduce uncertainty and facilitate timely completion of the transaction. The consortium, which includes BPEA Private Equity Fund IX and Digital Garage, has already obtained all necessary regulatory clearances. The competing proposal contemplates a tender offer only commencing in September 2026 at the earliest and remains subject to various conditions, including regulatory approvals.
Kakaku.com major shareholder Oasis agrees to tender all shares in LINE Yahoo-led tender offer
Oasis Management, a major shareholder of Kakaku.com, has entered into an agreement on the 1st to tender all of its Kakaku.com shares in the planned tender offer by LINE Yahoo and Bain Capital. Oasis holds a 19.52% stake in Kakaku.com, and according to a change report, its ownership percentage remains unchanged. The obligation to tender will lapse if Sweden's EQT, which is conducting a prior tender offer, makes a proposal that exceeds the current offer price by 1% or more. The LINE Yahoo-Bain tender offer is priced at up to 3,500 yen per share, is conditional on Kakaku.com expressing support, and is expected to commence around September.
2371.JP · Capital · Positive Major shareholder Oasis agrees to tender shares in LINE Yahoo-Bain tender offer at up to 3,500 yen per share, supporting the deal
4689.JP · Capital · Positive LINE Yahoo's tender offer for Kakaku.com is proceeding with major shareholder support, strengthening its acquisition strategy
Bain Capital · Capital · Positive Bain Capital's joint tender offer with LINE Yahoo gains key shareholder support, advancing the acquisition
EQT Extends Tender Offer for Kakaku.com Again to the 22nd
Swedish investment firm EQT announced it is extending the period of its tender offer for Kakaku.com to the 22nd. The offer price remains unchanged at 3,000 yen per share. This move follows Kakaku.com's decision on the 2nd to withdraw its recommendation for EQT's tender offer and leave the decision to shareholders. On the 1st, LINE Yahoo announced a formal acquisition proposal for Kakaku.com at 3,384 yen per share.
Japan
