Subsidiary (ValueCommerce Co., Ltd., Securities Code: 2491) to Repurchase Its Own Shares and Undertake a Tender Offer
SoftBank Group Corp. (“SBG”) announced today that on March 11, 2024 its subsidiary ValueCommerce Co., Ltd. (“ValueCommerce”) has resolved to repurchase its own shares and conduct a tender offer (the “Tender Offer”) as the specific method for this repurchase. Please refer to Attachment for details.
In addition, Z Intermediate Holdings Corporation (“ZHD Intermediate”), a subsidiary of SBG and owner of 51.92%* of ValueCommerce’s shares, entered into a tender offer agreement today with ValueCommerce to tender a portion of its ValueCommerce common shares in the Tender Offer. Upon completion of the Tender Offer, ValueCommerce is expected to cease to be a subsidiary of SBG and become an equity method associate.
The impact of this transaction on SBG’s consolidated financial statements is expected to be minimal.
As of December 31, 2023, excluding treasury shares owned by ValueCommerce.
Overview of ValueCommerce
| Location | 1-3 Kioicho, Chiyoda-ku, Tokyo |
|---|---|
| Name and title of representative | Jin Kagawa Representative Director President and CEO |
| Main business | Marketing Solutions Business (Affiliate marketing) EC Solutions Business (StoreMatch, STORE’s R∞, B-Space) Travel Tech Business |
| Share capital | JPY1,728 million (as of December 31, 2023) |
-
Releases, announcements, presentations and other information available from this page and elsewhere on this website were prepared based on information available and views held at the time of preparation and speak only as of the respective dates on which they are filed or used by SoftBank Group Corp. or the applicable group company, as the case may be. Such information is subject to change and may become out-of-date. Such information may also contain forward-looking statements which are by their nature subject to various risks and uncertainties that may cause actual results and future developments to differ materially from those expressed or implied by such statements. Please read legal notices in its entirety prior to viewing any information available on this website.
