Precise Products Holdings Co., Ltd. launched a tender offer to acquire Owari Precise Products Co.,Ltd. (NSE:7249) from Toyota Motor Corporation (TSE:7203), Hitachi Metals, Ltd. (TSE:5486), AISIN AW CO., LTD and other shareholders for ¥3.9 billion on December 4, 2020. As per the offer, Precise Products Holdings Co., Ltd. will acquire 1.1 million share of Owari Precise Products Co.,Ltd at an offer price of ¥3370 per share. Precise Products Holdings Co., Ltd. will receive receiving investment up to ¥2.2 billion and ¥1.9 billion from The Bank of Tokyo-Mitsubishi UFJ, Ltd and Sumitomo Mitsui Trust Bank which will be used to fund the Tender offer.

A special committee consisting of three members independent of RJE No. 2 Fund, Precise Products Holdings Co., Ltd., and Owari Precise Products Co.,Ltd has been established. Upon completion, Owari Precise Products Co.,Ltd will become the wholly owned subsidiary of Precise Products Holdings Co., Ltd. The transaction is subject to minimum tender.

The minimum no shares to be purchase as per the offer is 0.7 million. The tender period will start from December 7, 2020 till January 22, 2021. Tokai Tokyo Securities Co., Ltd. acted as financial advisor to Owari Precise Products Co.,Ltd. Oh-Ebashi LPC & Partners acted as legal advisor to Owari Precise Products Co.,Ltd.