Shares of Japanese price-comparison website operator Kakaku.com Inc. climbed on Monday after reports suggested that Bain Capital and LY Corp are preparing a higher takeover bid that could surpass the existing offer from private equity firm EQT, fueling renewed investor optimism.
Kakaku.com's stock gained around 2% to trade at 3,370 yen during Monday's session after Bloomberg News reported that Bain Capital and LY Corp, an affiliate of SoftBank Corp and the operator of Yahoo Japan, are expected to submit a binding acquisition proposal as early as next week. The report said the consortium is finalizing due diligence before making its formal offer.
According to Bloomberg, the new proposal is likely to exceed EQT's current tender offer of 3,000 yen per share, which values Kakaku.com at approximately 595 billion yen ($3.7 billion). Bain Capital and LY Corp had previously proposed 3,232 yen per share in May, signaling their strong interest in acquiring the Tokyo-based internet company.
The potential bidding war highlights Kakaku.com's strategic value in Japan's digital marketplace. The company operates one of the country's leading price comparison websites and also owns Tabelog, a widely used restaurant review and dining reservation platform. These assets have made Kakaku.com an attractive acquisition target for firms seeking to strengthen their online ecosystems.
Bloomberg reported that LY Corp sees significant opportunities to integrate Kakaku.com's services with its existing portfolio of digital businesses, potentially creating stronger consumer engagement and expanding advertising and e-commerce capabilities across its platforms.
The latest development comes after Kakaku.com's board of directors endorsed EQT's takeover proposal last month and recommended that shareholders accept the tender offer. However, if Bain Capital and LY Corp submit a superior bid, the board could be forced to reassess its recommendation in light of shareholder interests.
Investors will now closely monitor the next steps in the acquisition process, as a higher offer could trigger a competitive bidding contest for one of Japan's best-known internet companies. The outcome may also influence future merger and acquisition activity in Japan's technology and digital services sector, where strategic assets continue to attract interest from global private equity firms and domestic technology leaders.


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