Tender Offer for Largest Portfolio Holding

AVI Japan Opportunity Trust PLC

09 September 2026

 

AVI Japan Opportunity Trust plc

Tender Offer for Largest Portfolio Holding

London, 9 September 2026

AVI Japan Opportunity Trust plc ("AJOT"), for which Asset Value Investors Limited ("AVI") acts as investment manager, notes that MBK Partners, an Asian private equity firm, has today announced a tender offer for Sharingtechnology (TSE: 3989) with the intention of taking the company private.

As at 8 September 2026, Sharingtechnology was AJOT's largest portfolio holding, representing 11.11% of AJOT's NAV.

The offer price represents a premium of 55.8% to Sharingtechnology's undisturbed share price prior to media reports in June of a potential transaction, and a premium of 5.8% to the closing share price on 9 September 2026.

This marks the first third-party tender offer since February 2025 for a portfolio company within AJOT, a strategy whose performance has historically benefitted from regular corporate activity. The Investment Manager's approach is to build concentrated positions in undervalued companies, often representing double-digit ownership stakes. They then work closely with management teams and boards through intensive engagement and activism to unlock value through strategic, operational or balance sheet optimisation. By nature, some of the returns from active engagement can be non-linear, event-driven and the timing of value-realisation can differ. The tender offer provides a tangible example of this approach translating into value realisation for shareholders, while also demonstrating the potential returns from maintaining a patient, long-term investment horizon.

AVI expects AJOT to receive the proceeds following the end of the tender offer period of 30 business days, subject to successful completion and settlement of the offer.

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LEI: 894500IJ5QQD7FPT3J73

 Notes to editors

AVI Japan Opportunity Trust plc - www.ajot.co.uk

AVI Japan Opportunity Trust plc ("AJOT") was established in 2018 and currently has £400 million* of assets. AJOT invests in a focussed portfolio of over-capitalised small-cap Japanese equities. The investment manager then engages with company management to be the catalyst that drives share price improvement through consultant led, active engagement processes.

AVI - www.assetvalueinvestors.com

AVI is an investment management company established in London in 1985. AVI manages AVI Global Trust plc, AVI Japan Opportunity Trust plc and MIGO Opportunities Trust plc, all investment companies whose shares are listed and traded on the main market of the London Stock Exchange. AVI manages £2.1 billion* across all its products. AVI's investment philosophy is grounded in the belief that capital markets frequently misprice complexity, particularly in markets where corporate governance is opaque, asset transparency is low, or conglomerate structures obscure underlying value. We identify these inefficiencies through a research-intensive process that specialises in discovering companies trading at material discounts to intrinsic value, with a focus on active engagement to unlock and grow that value.

*as at 31 August 2026

Contact:

Kaz Sakai: [e-mail]

Asset Value Investors Limited

 

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