EQT to Launch Tender Offer to Privatize Kakaku.com
EQT has launched a tender offer to privatize Kakaku.com, a leading Japanese digital platform operator, as part of its strategy to accelerate long-term value creation through active ownership. The transaction builds on EQT’s continued expansion in Japan and aims to support the company’s next phase of growth across its price comparison, restaurant, and job marketplace businesses.
- EQT to launch a tender offer to privatize Kakaku.com, Inc., a Japanese classified and marketplace platform
- Kakaku.com operates core services including Tabelog, Kakaku.com and Kyujin Box
- Following a review by an independent Special Committee, the Board of Directors unanimously expressed support for the Tender Offer and recommended that shareholders tender their shares
EQT today announced that BPEA Private Equity Fund IX (“BPEA Fund IX” or “EQT”) will launch a tender offer (the “Tender Offer”) to acquire Japanese classified and marketplace platform Kakaku.com, Inc. (“Kakaku.com” or the “Company”; ticker symbol: TSE 2371) at an offer price of JPY 3,000 per share.
Kakaku.com operates a portfolio of digital platforms in Japan, including Kakaku.com, a price comparison platform; Tabelog, a restaurant review and online reservation platform; and Kyujin Box, a job search platform. The Company has established positions across these services with strong consumer engagement and long-standing relationships with users and business partners.
The Company’s board of directors and Special Committee unanimously expressed support for the Tender Offer and recommended that shareholders tender their shares. In addition, major shareholders Digital Garage and KDDI, who together hold 38.1% of the shares, have entered into agreements with EQT and will dispose of their shares through a share buyback by Kakaku.com after the Tender Offer. Digital Garage, as a consortium partner of EQT, is expected to re‑invest and hold an approximately 20% equity stake in the tender offeror group. Following the successful completion of the transaction, EQT intends to work closely with management to strengthen the Company's platforms, enhance its technology capabilities, and drive long-term value creation.
The Company’s board of directors and Special Committee unanimously expressed support for the Tender Offer and recommended that shareholders tender their shares. In addition, major shareholders Digital Garage and KDDI, who together hold 38.1% of the shares, have entered into agreements with EQT and will dispose of their shares through a share buyback by Kakaku.com after the Tender Offer. Digital Garage, as a consortium partner of EQT, is expected to re‑invest and hold an approximately 20% equity stake in the tender offeror group. Following the successful completion of the transaction, EQT intends to work closely with management to strengthen the Company's platforms, enhance its technology capabilities, and drive long-term value creation.
Tetsuro Onitsuka, Partner in the EQT Private Capital Asia team, said: “Kakaku.com has built a portfolio of trusted services that are deeply embedded in everyday life in Japan. As a global investor bringing together European industrial heritage with deep local presence and active ownership, we look forward to partnering with management to support the Company’s continued ability to adapt and grow in an increasingly AI-driven environment. This transaction reflects EQT’s long-term commitment to Japan and builds on our growing footprint in the market, where we continue to see opportunities to support companies through periods of structural change and long-term development.”
This transaction underscores EQT’s ongoing commitment to Japan following recent take-private transactions and strategic activity in the market. EQT’s recent activity in Japan includes the privatizations of Fujitec, CareNet and Mamezo, and the completion of exits of TRYT and Pioneer to high-caliber sponsor and strategic buyers last year.
With this transaction, BPEA Fund IX is expected to be 10-15 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) and subject to customary regulatory approvals.
Contact:
EQT Press Office, press@eqtpartners.com
About EQT
EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2026, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com
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About Kakaku.com
Kakaku.com, Inc., founded in 1997 and headquartered in Tokyo, operates a portfolio of market-leading digital consumer platforms in Japan, including Kakaku.com, the country's largest product and price comparison site, Tabelog, the leading restaurant discovery and reservation platform, and Kyujin Box, an emerging job search platform, helping Japanese consumers make better decisions across shopping, dining, and jobs.
Follow EQT on LinkedIn, X, YouTube and Instagram
About Kakaku.com
Kakaku.com, Inc., founded in 1997 and headquartered in Tokyo, operates a portfolio of market-leading digital consumer platforms in Japan, including Kakaku.com, the country's largest product and price comparison site, Tabelog, the leading restaurant discovery and reservation platform, and Kyujin Box, an emerging job search platform, helping Japanese consumers make better decisions across shopping, dining, and jobs.
More info:https://corporate.kakaku.com
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