JTEKT Corporation (TSE:6473) concluded an agreement to acquire remaining 54.7% stake in DAIBEA Co., Ltd. (TSE:6478) from group of sellers for ¥6.7 billion on October 31, 2018. Under the terms of the transaction, JTEKT Corporation offered to acquire 4.77 million shares at ¥1,410 per share. JTEKT Corporation will acquire minimum of 1.86 million shares through this transaction. Upon completion, DAIBEA Co., Ltd. will operate as wholly owned subsidiary of JTEKT Corporation. The tender offer will start on November 5, 2018 and will end on December 17, 2018. As of October 31, 2018, the Board of DAIBEA Co approved the tender offer. Nomura Holdings, Inc. (TSE:8604) acted as financial advisor and third-party appraiser and Kitahama Partners acted as legal advisor for JTEKT Corporation and SMBC Nikko Securities Inc acted as financial advisor and third-party appraiser and Kansai Law & Patent Office acted as legal advisor for DAIBEA Co., Ltd. Nomura Holdings, Inc. acted as business dealer or bank who makes the settlement of the tender offer and the location of the head office.