Shuwa System Co., Ltd. made a tender offer to acquire 66.7% stake in Funai Electric Co., Ltd. (TSE:6839) for ¥20.9 billion on March 23, 2021. As per terms of transaction, Shuwa System Co., Ltd. will plan to acquire 22.782386 million shares of Funai Electric Co., Ltd. with minimum acceptance of 11.160020 million shares at ¥918 for each share. The tender offer will begin on March 24, 2021 to May 10, 2021. Settlement date is May 14, 2021. SMBC Nikko Securities Inc. acted as tender offer agent for Shuwa System Co., Ltd. Daiwa Securities Co. Ltd. acted as the financial advisor and Mori Hamada & Matsumoto LPC acted as the legal advisor for Funai Electric Co., Ltd.