Brother Industries, Ltd. (TSE:6448) made an offer to acquire an additional 36.64% stake in Nissei Corporation (TSE:6271) for ¥11.2 billion on December 4, 2012. Brother Industries, Ltd. is acquiring 10.16 million shares of Nissei Corporation representing 36.6% stake and paying ¥1100 per share and post transaction Brother Industries, Ltd. will hold 60.22% stake in Nissei. The minimum number of shares scheduled to be purchased is set at 7.61 million shares and maximum number of shares scheduled to be purchased is set at 10.16 million. If the number of maximum shares exceeds 10.16 million, Brother Industries will decide on whether to purchase the part or whole of the excess shares tendered. Brother Industries, Ltd. will not continue the purchase if minimum tender condition is not fulfilled. The tender offer period is from December 5, 2012 through January 23, 2013.

Nissei Corporation will continue to be listed after the tender offer. The transaction has been resolved by Board of Directors of Brother Industries, Ltd. The transaction has been approved by Board of Directors of Nissei Corporation. The transaction is still subject to approval by Board of Directors of Brother Industries but still is subject to various approvals by antitrust authorities. The transaction is expected to close by January 30, 2013. GCA Savvian Corporation acted as financial advisor to Brother Industries, Ltd. City-Yuwa Partners acted as legal advisors to Nissei Corporation. Nomura Securities Co., Ltd. acted as tender offer agent to the transaction.

Brother Industries, Ltd. (TSE:6448) completed the acquisition of an additional 36.64% stake in Nissei Corporation (TSE:6271) on January 23, 2013. Brother Industries acquired 10.16 million shares from the total shares tendered amounting to 15.79 million on a pro-rata basis. Brother Industries acquired 91 shares of Nissei Corporation from the excess shares tendered.