Blackstone (BX.N) has launched a 275.8 billion yen ($1.74 billion) bid to take Japanese digital comic distributor Infocom (4348.T) private, offering a tender price of 6,060 yen per share, Infocom announced on Tuesday.
This tender offer will total 141.4 billion yen, according to Infocom.
Separately, Infocom’s current parent company, Teijin (3401.T), stated it will sell its entire 58% stake in Infocom for 134.4 billion yen in a share buyback once the buyout is finalized.
Infocom operates Mecha Comic, one of Japan’s largest digital comic platforms, as noted on its website.
In recent years, global investor interest in Japanese companies has surged due to a weak yen, robust public markets, and corporate governance reforms that make mergers and acquisitions (M&A) more appealing.
In 2023, M&A activity in Japan reached a record $35.5 billion, according to LSEG data.
The Infocom transaction represents the largest private equity deal in Japan this year, Blackstone said in a statement.
Following reports of the potential buyout last month, Infocom’s share price more than doubled, closing at 6,030 yen on Tuesday from below 3,000 yen in early May.
Teijin, a conglomerate with diverse operations in chemicals, healthcare, and internet services, expects to record a 105 billion yen profit on a consolidated basis from the sale of Infocom within the current financial year ending in March 2025.