TS TECH Co., Ltd. completed the acquisition of an additional 25% stake in Imasen Electric Industrial Co., Ltd..
December 07, 2020
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TS TECH Co., Ltd. (TSE:7313) made an offer to acquire an additional 25% stake in Imasen Electric Industrial Co., Ltd. (TSE:7266) for ¥4.8 billion on November 9, 2020. Under the terms of the transaction, TS TECH Co., Ltd. will pay ¥930 per common share to acquire 5.2 million shares in Imasen Electric Industrial Co., Ltd. Upon completion, TS TECH Co., Ltd. will own 28.1% stake in Imasen Electric Industrial Co., Ltd. The transaction is resolved by the Board of Imasen Electric Industrial Co., Ltd. The tender offer will run from November 10, 2020 to December 8, 2020. SMBC Nikko Securities Inc. provided fairness opinion while Narita Hasegawa Law Offices and Mori Hamada & Matsumoto LPC acted as legal advisors to Imasen Electric Industrial Co., Ltd. Nomura Securities Co., Ltd. acted as financial advisor to TS TECH Co., Ltd.
TS TECH Co., Ltd. (TSE:7313) completed the acquisition of an additional 25% stake in Imasen Electric Industrial Co., Ltd. (TSE:7266) on December 8, 2020. As reported, TS TECH Co. acquired 5.2 million shares through the tender offer. An additional 2.1 million shares were acquired through the third-party allotment. Following these acquisitions, TS TECH Co. will own 7.98 million shares, representing 34.75% stake in Imasen Electric Industrial Co., Ltd.
TS TECH CO., LTD. is a Japan-based company mainly engaged in manufacture and sale of two-wheel vehicle seats and interior components. The Company operates in four segments. The Japan segment is engaged in the manufacture and sale of two-wheel vehicle seats and resin parts, four-wheel vehicle seats and interior components. The Americas segment is engaged in the manufacture and sale of two-wheel vehicle seats and resin parts, four-wheel vehicle seats and interior components. The China segment is engaged in the manufacture and sale of four-wheel vehicle seats and interior components. The Asia and Europe segment is engaged in the manufacture and sale of two-wheel vehicle seats and resin parts, four-wheel seats and interior components.
TS TECH CO., LTD. 
