Kanematsu Corp. (TSE:8020) made an offer to acquire an additional 18.9% stake in Kanematsu-NNK Corporation (TSE:7961) for ¥1.6 billion on October 31, 2014. Under the offer, Kanematsu Corp.

will acquire 7.83 million shares at ¥200 per share. After the completion of the transaction Kanematsu Corp. will own 0.02 million voting rights 51% stake in Kanematsu-NNK Corporation, up from 0.01 million voting rights 32.1% stake.

There are no plans to change the employees after the tender offer and no plans to delist Kanematsu-NNK. The offer period is in between November 4, 2014 to December 16, 2014. December 24, 2014 is the settlement date.

Nippon Tochi-Tatemono Co., Ltd. agreed to subscribe all held shares to the tender offer. The Board of Directors of Kanematsu-NNK resolved to leave to the judgment of shareholders whether or not to subscribe to the tender offer. Mizuho Securities Co., Ltd. acted as valuer and Shibata, Suzuki & Nakada acted as legal advisor for Kanematsu-NNK.

Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor and Mori Hamada & Matsumoto acted as legal advisor for Kanematsu Corp.