SKT Holdings Ltd enter into basic agreement to acquire 28.9% stake in Shoko Co., Ltd. (TSE:8090) from Showa Denko K.K. (TSE:4004) for¥ 2.5 billion on March 4, 2021. Under the terms of agreement, iSigma will acquire 3.16 million shares of Shoko Co. at ¥ 796 per share. Tender offer will commence on March 5, 2021.when this tender offer is successful, SHOKO will no longer be a consolidated subsidiary of Showa Denko, which will hold 14.9% stake in Shoko Co., Ltd. The transaction is expected to be completed on April 15, 2021. SMBC Nikko Securities Inc acted as agent in the tender offer.

SKT Holdings Ltd completed the acquisition of 28.9% stake in Shoko Co., Ltd. (TSE:8090) from Showa Denko K.K. (TSE:4004) on April 15, 2021. The effect of this transaction on Showa Denko K.K.'s results for this term are expected to be minor.