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    5486   JP3786200000

HITACHI METALS, LTD.

(5486)
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A consortium of Bain Capital Private Equity, LP, Japan Industrial Partners, Inc. and JIS Japan Industrial Solutions K.K. made an offer to acquire 46.6% stake in Hitachi Metals, Ltd. for approximately ¥430 billion.

04/28/2021 EDT

A consortium of Bain Capital Private Equity, LP, Japan Industrial Partners, Inc. and JIS Japan Industrial Solutions K.K. made an offer to acquire 46.6% stake in Hitachi Metals, Ltd. (TSE:5486) for approximately ¥430 billion on April 28, 2021. The consortium made the offer to acquire shares at ¥2181 per share. The transaction will be financed from equity investment and borrowings from The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Sumitomo Mitsui Trust Bank, Ltd., Shinsei Bank, Ltd. and Aozora Bank, Ltd. Post completion, consortium expected that executive officers will continue to play a leading role in our business operation. The tender offer will commence if certain conditions are fulfilled. The consortium must have to acquire minimum of 56.82 million shares through tender offer. If all the shares not acquired through tender offer, then consortium will launch squeeze out for remaining shares out of tendered shares. The conditions include Hitachi Metals, Ltd.'s special committee and Board of Directors has expressed their opinion in support for the transaction, approvals from Competition laws of Japan, China, South Korea, Taiwan, the United States, Mexico, and Vietnam. The European Commission has received an application for the approval of the transaction, The Commission has set October 13, 2021, as a provisional deadline for a ruling on the transaction. The commencement of tender offer is expected in late November 2021. BofA Securities Japan Co., Ltd. acted as financial advisor to Hitachi Metals, Ltd. for the transaction. Nishimura & Asahi acted as legal advisor to Hitachi Metals, Ltd. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor to Bain Capital Private Equity, LP.


© S&P Capital IQ 2021
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Financials
Sales 2022 891 B 8 048 M 8 048 M
Net income 2022 19 675 M 178 M 178 M
Net Debt 2022 122 B 1 097 M 1 097 M
P/E ratio 2022 46,8x
Yield 2022 0,91%
Capitalization 921 B 8 315 M 8 312 M
EV / Sales 2022 1,17x
EV / Sales 2023 1,07x
Nbr of Employees 28 620
Free-Float 44,8%
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Technical analysis trends HITACHI METALS, LTD.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Last Close Price 2 153,00 JPY
Average target price 1 994,25 JPY
Spread / Average Target -7,37%
EPS Revisions
Managers and Directors
Mitsuaki Nishiyama Co-Chairman, CEO & Executive President
Hiroaki Nishioka Chief Financial Officer & Head-Administration
Kenichi Nishiie Co-Chairman
Kazuya Murakami Managing Executive Officer, General Manager-R&D
Ryoichi Aida Chief Quality Officer & Head-Technology
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