Shinsei Financial Co., Ltd. agreed to acquire remaining 5.1% stake in APLUS FINANCIAL Co., Ltd. (TSE:8589) for ¥6.6 billion on October 30, 2020. Shinsei Financial Co., Ltd. acquiring remaining 77.9 million shares at a price of ¥85 per share. Upon completion, APLUS FINANCIAL Co., Ltd. will become wholly owned subsidiary of Shinsei Financial Co., Ltd. The transaction is approved by Board of Directors of APLUS FINANCIAL Co., Ltd. Board of Directors of APLUS FINANCIAL Co., Ltd. established a special committee consisting of an outside director and an outside corporate auditor, etc. and asked the special committee to submit opinions on the transaction. The transaction is expected to be completed on December 1, 2020. PwC Advisory LLC acted as financial advisor for Shinsei Bank, Limited (TSE:8303), parent of Shinsei Financial Co., Ltd. Nakamura, Tsunoda & Matsumoto acted as legal advisor for APLUS FINANCIAL Co., Ltd. Nomura Securities Co., Ltd. acted as financial advisor for APLUS FINANCIAL Co., Ltd. and Shinsei Bank, Limited, parent of Shinsei Financial Co., Ltd. Shinsei Financial Co., Ltd. completed the acquisition of remaining 5.1% stake in APLUS FINANCIAL Co., Ltd. (TSE:8589) on November 27, 2020.