Bain Capital's 2026 Japan Take-Privates: MCJ and INFORICH
In a single 2026 filing window, Bain Capital moved to take two Japanese companies private through two separately named shell companies — MCJ (6670) at 69.56% via BCPE Meta, and INFORICH / ChargeSPOT (9338) at 97.82% with management via BCJ-102. Nothing in either filing points to the other; the connection only appears if you read every large-shareholding report and record who is behind each vehicle.
| Company | Ticker | Vehicle | Stake | Cost | Source |
|---|---|---|---|---|---|
| MCJ | 6670 | BCPE Meta Cayman, L.P. | 69.56% | ~¥155.7bn | S100XYR5 |
| INFORICH (ChargeSPOT) | 9338 | BCJ-102 + management | 97.82% | ~¥40.7bn | S100XXK6 |
The machinery
Read together, the filings are a short manual for taking a Japanese company off the market: a tender offer to clear the majority, a management rollover where insiders want to stay (INFORICH used one), bank debt secured against the very shares being bought, and then a share consolidation (Companies Act art. 180) to buy out whoever is left.
One detail repeats across both: the dedicated "important proposal activity" box on the form reads not applicable, even though each stated purpose says in plain language that the filer intends to take the company private. The take-private runs through the formal tender-offer and consolidation process rather than the "important proposal" mechanism the box asks about. Screen only on that checkbox and you would miss these delistings.
Related: a management buyout in the same window
Not all of the window's take-privates were Bain. Watman (9927) went private via a management buyout (vehicle IAPF3, 68.81%; 92.03% with a director's family), a ¥6.08bn deal backed by ¥3.84bn of debt from the Bank of Yokohama. Primary source: S100XWKT.
FAQ
- Which Japanese companies did Bain Capital take private in 2026?
- MCJ (6670) via BCPE Meta and INFORICH/ChargeSPOT (9338) via BCJ-102 — disclosed in the same 2026 filing window.
- What do the two share?
- Same fund, two separately named vehicles, both financed with bank debt pledged against the acquired shares, both headed for squeeze-out via share consolidation.
- Where can I verify this?
- The primary EDINET filings are linked per company in the table above.