Kuala lumpur: SBC Medical Group Holdings Incorporated (Nasdaq: SBC) announced the initiation of a tender offer for shares of Waqoo, Inc., a company listed on the Tokyo Stock Exchange Growth Market. The tender offer, set to commence on November 13, 2025, is in accordance with Japan's Financial Instruments and Exchange Act.

According to BERNAMA News Agency, the Tender Offeror, a Japanese subsidiary owned by SBC Medical Group Holdings Incorporated, currently holds 353,600 shares of Waqoo, Inc., representing a 9.49% ownership stake. While SBC Medical Group Holdings does not directly own shares in Waqoo, Yoshiyuki Aikawa, the company's Chairman and CEO, is the largest shareholder with 989,802 shares, equating to a 26.58% stake. This positions Aikawa as a closely related person and a person acting in concert with the Tender Offeror, thus classifying the Tender Offeror as an other affiliated company of Waqoo, Inc. under Japanese regulations.