Daiwa Securities Group Inc. (TSE:8601) made an offer to acquire the remaining 89.92% stake in Retela Crea Securities Co., Ltd. from a group of sellers for ¥2.7 billion on January 29, 2013. The group of sellers includes, Suntory Holdings Limited, Musashi Securities Co., Ltd., Trust and Custody Services Bank, Ltd, Yodobashi Camera Co.,Ltd., Mizuho Corporate Bank, Sumitomo Mitsui Banking Corp., Sumitomo Mitsui Trust Bank, Daiwa Asset Management Co. Ltd. and Asahi Mutual Life Insurance Co. Daiwa Securities Group Inc. will acquire 11.3 million shares of Retela Crea Securities Co., Ltd. representing 89.92% stake for ¥240 per share. Daiwa Securities Group Inc. will also acquire 5485 stock options for ¥1 per option. The tender offer period will start from February 4, 2013 to March 4, 2013. For the year ended March 31, 2012, Retela Crea Securities reported total assets of ¥27.2 billion, revenues of ¥2.6 billion, net loss of ¥575 million, operating loss of ¥646 million and total common equity of ¥6.5 billion. There is no minimum tender condition or maximum tender condition. Daiwa will purchase all shares and stock options tendered. After completion of the tender offer, Daiwa intends to retain the management and employees of Retela in their current positions.

The Board of Directors of Retela passed a resolution in support of the tender offer. Duff & Phelps Corp provided valuation services to Daiwa Securities Group Inc. Plutus Consulting Co., Ltd. provided valuation services and Atsumi & Sakai acted as legal advisor to Retela Crea Securities Co., Ltd. Daiwa Securities Co. Ltd acted as tender offer agent to the transaction.