On February 4, 2026, Brother Industries Ltd. announced that it will launch an acquisition initiative for all outstanding shares of MUTOH Holdings Co. Ltd. According to a report shared by Keypoint Intelligence, “This move represents a deliberate extension of Brother’s medium-term business strategy and signals a broader recalibration of its industrial portfolio.” Brother has offered around ¥35 billion in total, equivalent to $223 million.

Brother released several documents that outline the commencement of the tender offer, one of which outlines that it will use its own funds for the acquisition. A tender offer period of 30 business days has been set, according to an article shared by SignLink. The article, along with other sources, shares that Brother already has the backing of the major shareholders, and the Mutoh Holdings board will likely recommend shareholders accept.

The move, which is among some of the bigger in M&A activity over the past few years, signals Brother’s efforts to build up the industrial and wide-format printing side of its business. The company currently offers a selection of apparel decorating solutions, including direct-to-garment (DTG) and embroidery machines. In March of 2024, it made an attempt to acquire Roland DG, which ultimately never worked out.

You can access the filing document here. This is an ongoing story — be sure to subscribe to Apparelist to stay up to date on the latest developments.