Kadoya Sesame Mills Reaches Record High Following Integral Takeover Bid

Kadoya Sesame Mills shares climbed 13.7% to a record high of ¥2,751 today after an affiliate of private equity firm Integral launched a public tender offer to take the company private. This move changes the status of the manufacturer, which has secured board support to delist from the Tokyo Stock Exchange.

ITG-G Holdings, the entity affiliated with Integral, commenced the tender offer (TOB) for all outstanding common shares of Kadoya Sesame Mills. The offer window remains open from September 15, 2026, through October 30, 2026.

"The board of directors has expressed support for the transaction and recommends that shareholders tender their shares," according to an Investing.com report detailing the development.

Preparing for Delisting

Kadoya Sesame Mills has implemented structural changes to facilitate the transition to private ownership. The company announced it will eliminate its annual dividend for the fiscal year ending March 2027 and abolish its shareholder benefit program.

These actions occur in Japanese corporate takeovers when the acquirer seeks to simplify the capital structure and reduce administrative costs associated with maintaining a public listing. By removing dividends and perks, the company prepares for the transition away from public market reporting and shareholder engagement requirements.

What Is at Stake for Shareholders

For current investors, the tender offer provides a liquidity event at a premium to the company's previous trading range. The board's recommendation to tender suggests that the offer price reflects the company's underlying assets and market position in the sesame oil industry.

If the tender offer succeeds and the company proceeds with delisting, Kadoya will join a trend of Japanese firms being taken private by private equity firms to undergo restructuring away from the scrutiny of the public stock market. The success of this bid depends on the participation rate of minority shareholders before the October 30 deadline.