Bidding War for Kakaku.com: LY Corp, Bain Capital, and EQT Compete

May 14, 2026, 01:50
AsiaFinance

Introduction

LY Corp and Bain Capital have increased their financial offer to buy Kakaku.com, beating a competing bid from the Swedish firm EQT.

Main Body

A group consisting of LY Corp and Bain Capital has offered to pay 3,232 yen per share in cash. This is a 7.7% increase from their previous offer and is higher than EQT's bid of 3,000 yen per share. LY Corp emphasized that this acquisition is strategically important because Kakaku.com's services, such as Tabelog and Kyujin Box, are very useful for integrating generative artificial intelligence. On the other hand, EQT argues that its proposal is better because it is a legally binding agreement and has the full support of Kakaku.com's board of directors. Furthermore, major shareholders Digital Garage and KDDI, who own 38.1% of the company, have already agreed to sell their shares to EQT. However, the market shows a different trend, as Kakaku.com's shares are trading higher than the current bids, suggesting that investors expect the price to rise further. This situation is part of a larger change in the Japanese business world. New governance reforms have made domestic companies more open to being bought by foreign firms or becoming private. Nevertheless, the government has noted that companies are not required to accept unwanted offers, even if the price is very high.

Conclusion

Kakaku.com is currently the target of competing bids from both EQT and the LY Corp/Bain Capital group, and market prices suggest the cost may continue to increase.

Learning

⚑ The 'Contrast Shift': Moving from A2 to B2

At an A2 level, you likely use but for everything. To reach B2, you need to navigate 'The Contrast Shift'β€”using specific words to show how two ideas disagree. This text is a goldmine for this.

πŸ› οΈ The Tool Kit

WordWhen to use itExample from Text
On the other handTo present a completely different perspective or side of an argument."On the other hand, EQT argues that its proposal is better..."
FurthermoreTo add a stronger point to the one you just made (Building a case)."Furthermore, major shareholders... have already agreed to sell..."
NeverthelessTo say 'despite this fact, the following is still true'."Nevertheless, the government has noted that companies are not required to accept..."
HoweverA versatile 'pivot' used to introduce a surprising or opposing fact."However, the market shows a different trend..."

πŸ’‘ The B2 Logic Gap

Look at the difference in 'weight' between these two ways of saying the same thing:

  • A2 Style: LY Corp offered more money but EQT has the board's support.
  • B2 Style: LY Corp offered more money. On the other hand, EQT argues that its proposal is better because it has the board's support.

Why is the B2 version better? It doesn't just connect two sentences; it tells the reader: "Stop looking at the money now; start looking at the legal power." It creates a professional structure that guides the reader through a complex business conflict.

πŸš€ Quick Upgrade Guide

If you want to sound more like a B2 speaker today, replace your common connectors with these 'Bridge Words':

  • Instead of And β†’\rightarrow Try Furthermore (when adding a point).
  • Instead of But β†’\rightarrow Try Nevertheless (when the result is surprising).
  • Instead of Also β†’\rightarrow Try In addition or Moreover.

Vocabulary Learning

acquisition (n.)
The act of buying or obtaining a company or asset.
Example:The acquisition of Kakaku.com was announced last week.
acquisition
the act of buying or obtaining something, especially a company
Example:The acquisition of the startup was completed last month.
strategically (adv.)
In a way that helps to achieve a particular goal or advantage.
Example:LY Corp emphasized that this acquisition is strategically important.
strategically
in a way that is planned to achieve a particular goal
Example:They invested strategically to gain a competitive advantage.
generative (adj.)
Capable of producing or creating something, especially in the context of artificial intelligence.
Example:Generative artificial intelligence can create new content from scratch.
generative
capable of producing or creating new content
Example:The generative model can write poetry.
legally (adv.)
In accordance with the law or legal rules.
Example:EQT argues that its proposal is legally binding.
artificial
made by humans rather than occurring naturally
Example:Artificial intelligence can learn from data.
binding (adj.)
Requiring or obligating someone to do something.
Example:The agreement is legally binding for both parties.
intelligence
the ability to learn, understand, and apply knowledge
Example:Artificial intelligence has advanced rapidly.
shareholders (n.)
People who own shares in a company.
Example:Major shareholders agreed to sell their shares to EQT.
legally
in accordance with law
Example:The contract was signed legally.
governance (n.)
The system by which a company is directed and controlled.
Example:New governance reforms have made companies more open to foreign investment.
binding
having legal force or obligation
Example:The binding agreement ensures compliance.
reforms (n.)
Changes made to improve or update a system or institution.
Example:Governance reforms aim to increase transparency and accountability.
agreement
a mutual understanding or arrangement
Example:They reached an agreement on the terms.
foreign (adj.)
Coming from or belonging to another country.
Example:Foreign firms are now more likely to buy Japanese companies.
shareholders
people who own shares in a company
Example:Shareholders voted on the proposal.
unwanted (adj.)
Not desired or desired, especially in a business context.
Example:Companies are not required to accept unwanted offers.
domestic
relating to a country rather than foreign
Example:Domestic companies are adapting to new rules.
price (n.)
The amount of money expected for something.
Example:The price of shares is expected to rise.
governance
the system of rules and practices for controlling a company
Example:Governance reforms aim to improve transparency.
market (n.)
The system or place where buying and selling of goods and services occur.
Example:The market shows a different trend as shares trade higher.
reforms
changes made to improve something
Example:Reforms were introduced to increase accountability.
foreign
coming from another country
Example:Foreign investors are interested in the market.
firms
business companies
Example:Several firms joined the consortium.
private
owned by individuals rather than the state
Example:The company became private after the sale.
unwanted
not desired
Example:They rejected the unwanted offer.
offers
proposals to buy or sell
Example:The company received multiple offers.
market
place where goods or services are bought and sold
Example:Market prices fluctuated during the day.
prices
the amount of money expected for something
Example:Prices rose after the announcement.
target
the object of an action
Example:The company is the target of the bid.
bid
an offer to buy at a certain price
Example:They made a higher bid than the competitor.
increase
a rise in amount or level
Example:The increase in shares attracted investors.
higher
greater in amount or level
Example:The higher price was accepted.
trading
the buying and selling of shares
Example:Trading volumes spiked after the news.
suggest
to indicate or imply something
Example:The data suggest a trend.
expect
to anticipate or look forward to
Example:Investors expect growth.
cost
the price paid for something
Example:The cost of the project was high.
continue
to keep going or persist
Example:The price is expected to continue rising.
board
group of directors who oversee a company
Example:The board approved the deal.
directors
people who manage a company
Example:Directors met to discuss strategy.
cash
money in the form of coins and banknotes
Example:They paid cash for the shares.
yen
Japanese currency unit
Example:The price was 3,232 yen per share.
share
a unit of ownership in a company
Example:Each share entitles you to a dividend.