Daily Brief Japan: Kakaku.com Inc, TSE Tokyo Price Index TOPIX, Meiho Holdings and more

• On 10 September, just before Bain/LY completed clearance processes, EQT bumped its Kakaku.com Inc (2371 JP) bid from ¥3,571 to ¥3,680. Kakaku responded the 11th. Markets traded ¥3,800+ next day.
• On the 16th, LY Corp announced it would bid ¥3,720 if KDDI agreed. New best bid. Shares traded lower early the 17th. Markets expected a bigger bump. Kakaku responded post-close.
• I did too but there is a process here, and it pays to remember you see what Bidders want you to see. 

• Since companies that have listed on NYSE through ADR etc have been reporting their financial results under US-GAAP, it is expected that more companies will transition to IFRS as needed.
• If IFRS is promoted on the assumption that “eliminating the periodic amortization of goodwill under Japanese-GAAP will likely lead to increased M&A,” the discussion risks heading in the wrong direction.
• Needless to say, successfully implementing PMI to increase future profits and cash flow is both more difficult and more important.

Key points (machine generated)

• Meiho Holdings achieved record highs in sales, operating profit, ordinary profit, and EBITDA as of June 2026.
• The company operates a corporate support platform to enhance growth for small and medium-sized enterprises through mergers and acquisitions.
• Meiho Holdings provides support in management efficiency, human resources, and business collaboration across 25 companies, offering services in construction consulting, public works, and care services.

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