Japanet Holdings has withdrawn its tender offer for home appliance maker Twinbird, according to a report from Niigata Nippo published on Wednesday. The announcement was made on September 2, 2026, with the decision coming after formal opposition to the bid.
The Nikkei business daily also covered the move, reporting that Japanet’s decision to scrap the offer followed public statements of resistance from Twinbird’s management. Yomiuri Shimbun similarly confirmed the withdrawal, noting that Japanet had been seeking to acquire the smaller electronics manufacturer through the tender offer process.
According to separate filings cited by stock analysis site Kabutan, investor Hiroyuki Maki has reported a stake in Twinbird exceeding 5 percent. Traders Web, via Yahoo! Finance, identified Maki as the president of Buffalo, a peripheral maker, and said his holding had risen to 6.98 percent. The timing of these disclosures aligns with the period of heightened tension around the takeover attempt.
The collapse of the bid marks a clear defeat for Japanet, which had pushed forward with the acquisition despite early signs of friction. Twinbird’s board had voiced its disapproval, and the emergence of a significant outside shareholder appears to have added further pressure on Japanet to step back.
What remains unclear is whether Japanet will attempt a revised offer or walk away entirely. Observers will be watching Twinbird’s stock price and any new shareholder moves in the coming weeks to gauge whether the matter is fully closed.
