Shares of KakakuCom Inc rallied on Thursday following a report that Sweden-based buyout firm EQT AB was assessing a possible takeover of the Japanese online shopping operator. The stock climbed 9.2% to 2,316.0 yen, reaching a three-month peak.
According to the report, EQT engaged a financial adviser as it considered making an offer for the company, a development attributed to people familiar with the matter. Kakaku’s market value stood at about $2.5 billion as of April, and the company’s shares have risen 1.6% year-to-date in 2026.
Founded in 1997, Kakaku operates a price-comparison service used by online shoppers and also runs Tabelog, one of Japan’s major restaurant review platforms. The reported interest from EQT comes amid a broader uptick in private equity dealflow across Japan.
Recent notable transactions and bids in the Japanese market were cited alongside the report of EQT’s interest. These include a private management buyout of Hisamitsu Pharmaceutical Inc, KKR & Co’s bid for Taiyo Holdings Co Ltd, and the continuing process to take Toyota Industries Corp private. The report also noted that earlier in March Bain Capital was reported to be close to a $10.5 billion fundraise for Asia.
Market reaction to the takeover report was immediate for Kakaku, with the stock setting a three-month high on the day of the news. The company’s mix of consumer-facing price comparison services and the restaurant review platform positions it within sectors that private equity investors have been evaluating in recent months as they increase activity in Japan.
While the report identified EQT as working with advisers to consider an offer, it did not provide details on proposal terms or timing. The article’s coverage also placed the potential Kakaku transaction in the context of wider investor confidence in Japan’s market reforms, which has supported a spate of deals and bid activity.
No additional confirmation of a formal offer or agreement was included in the report, and the situation remains one of developing interest rather than a completed transaction. Market participants and observers will likely monitor any follow-up disclosures or filings that could provide clearer information on any potential approach.
Summary of the situation
KakakuCom’s shares rose sharply after reporting that EQT was considering a takeover, lifting the stock to a three-month high and drawing attention amid heightened private equity activity in Japan.
Contextual note - The reported interest sits alongside other recent private equity moves in Japan, including deals and bids involving Hisamitsu Pharmaceutical, Taiyo Holdings, and Toyota Industries.