Announcement • Mar 12
Pressance Corporation to Delist from Standard Section of the Tokyo Stock Exchange, Effective March 28, 2025 Pressance Corporation will be delisted from Standard Section of the Tokyo Stock Exchange effective from March 28, 2025, due to Acquisition by a demand for share, etc. cash-out. Announcement • Feb 28
Open House Group Co., Ltd. (TSE:3288) completed the acquisition of 31.32% stake in Pressance Corporation (TSE:3254) from a group of shareholders for ¥51.9 billion. Open House Group Co., Ltd. (TSE:3288) proposed to acquire remaining 36.58% stake in Pressance Corporation (TSE:3254) from a group of shareholders for ¥60.7 billion on January 10, 2025. A cash consideration of ¥60.68 billion valued at ¥2390 per share will be paid by Open House Group Co., Ltd. As part of consideration, ¥60.68 billion is paid towards common equity of Pressance Corporation. The transaction will be financed through senior debt of ¥60.7 billion from from Sumitomo Mitsui Banking Corp.
Tender Offeror will implement the Squeeze-Out Procedure with the aim of making the Tender Offeror the only shareholder of the Pressance Corporation. Tender offer will commence on January 14, 2025 and will end on February 26, 2025. The settlement of the offer will take place on March 5, 2025. The transaction is subject to approval of merger agreement by board of directors of Pressance Corporation, consummation of due diligence investigation and minimum tender. The Board of Directors of Pressance Corporation formed a special committee for the transaction. The deal has been unanimously approved by the board of directors of Pressance Corporation. The expected completion of the transaction is February 26, 2025.
SMBC Nikko Securities Inc. acted as financial advisor for Open House Group Co., Ltd. Nagashima Ohno & Tsunematsu acted as legal advisor for Open House Group Co., Ltd. Mizuho Securities Co., Ltd. acted as financial advisor for Pressance Corporation. Mizuho Securities Co., Ltd. acted as fairness opinion provider for Pressance Corporation. Anderson Mori & Tomotsune LPC acted as legal advisor for Pressance Corporation.
Open House Group Co., Ltd. (TSE:3288) completed the acquisition of 31.32% stake in Pressance Corporation (TSE:3254) from a group of shareholders for ¥51.9 billion on February 26, 2025. Reported Earnings • Feb 15
First quarter 2025 earnings released: EPS: JP¥31.44 (vs JP¥76.99 in 1Q 2024) First quarter 2025 results: EPS: JP¥31.44 (down from JP¥76.99 in 1Q 2024). Revenue: JP¥42.9b (up 4.7% from 1Q 2024). Net income: JP¥2.18b (down 59% from 1Q 2024). Profit margin: 5.1% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in Japan are expected to remain flat. 
