Mitsui O.S.K. Lines, Ltd. (TSE:9104) agreed to acquire 9.93% stake in Nippon Concept Corporation (TSE:9386) from Takayoshi Matsumoto and Yasutoshi Yamanaka on February 13, 2018. Takayoshi Matsumoto and Yasutoshi Yamanaka will sell 0.66 million and 0.64 million shares of Nippon Concept Corporation. In a related transaction, Nippon Concept Corporation will issue 0.77 million new shares at ¥1387 per share to Mitsui O.S.K. Lines. Post completion of the acquisition and new shares issuance, Mitsui O.S.K. Lines will hold 15% stake in Nippon Concept. The transaction is resolved by the Board of Nippon Concept. The transaction is expected to complete on February 19, 2018.

Mitsui O.S.K. Lines, Ltd. (TSE:9104) completed the acquisition of 9.93% stake in Nippon Concept Corporation (TSE:9386) from Takayoshi Matsumoto and Yasutoshi Yamanaka in February 2018.