NOMURA HOLDINGS, INC. News Release
Nomura to Participate in Tender Offer for TAKAGI SECURITIES Tokyo, February 20, 2017-Nomura Holdings, Inc. (NHI) today announced that Nomura Land and Building Co., Ltd (NLB), a wholly owned subsidiary of NHI, has reached an agreement with Tokai Tokyo Financial Holdings, Inc. (Tokai Tokyo) in relation to a tender offer (Tender Offer) to be made by Tokai Tokyo for TAKAGI SECURIT IES CO., LTD. (TAKAGI), an equity method affiliate of NHI. Under the agreement, NLB will sell all the shares of TAKAGI it currently owns.After the completion of the Tender Offer, TAKAGI will no longer be an equity method affiliate of NHI.
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Overview of NHI's participation in the Te nder Offer
NLB will tender all TAKAGI shares it owns for sale under the Tender Offer. Date of Agreement: February 20, 2017
Shares to be sold: 17,069,149 shares
Settlement date: April 11, 2017 (scheduled)
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Reasons for the transfer of shares
TAKAGI was established as Takagi Shoten in 1918. Since becoming a registered securities company in 1948, it has offered a wide range of investment and financial services including asset management and asset planning services. TAKAGI currently has 14 retail outlets in the Kansai and Kanto regions.
Through its wholly owned subsidiary NLB, NHI owns 17,069,149 shares (28.56%) of TAKAGI, making it an equity method affiliate of NHI.
Tokai Tokyo proposed to acquire shares of TAKAGI in the expectation that the Tokai Tokyo and TAKAGI will achieve sustainable growth and improve corporate value through synergy and cross utilization of management resources. NHI accepted Tokai Tokyo's proposal and will participate in the Tender Offer.
TAKAGI has resolved at a board meeting today that it will endorse the Tender Offer and will recommend its shareholders to participate.
- Overview of TAKAGI SECURITIES CO., LTD.
Name TAKAGI SECURITIES CO., LTD.
Address Umeda, Kita-ku, Osaka-shi, Osaka
Representative Yasuo Yoshihara
Business Financial Services
Capital JPY 11,069 million (as of September 2016)
Established November 21, 1918
Group Employees 369 (as of March 2016)
Group Revenue JPY 5,112 million (fiscal year ended March 2016)
- Overview of Tokai Tokyo Financial Holdings, Inc.
Name Tokai Tokyo Financial Holdings, Inc.
Address Nihonbashi, Chuo-ku, Tokyo
Representative Tateaki Ishida
Business Holding company
Capital JPY 36,000 million (as of September 2016)
Established June 19, 1929
Group Employees 2,391 (as of March 2016)
Group Revenue JPY 67,584 million (fiscal year ended March 2016)
- Outlook
Following the completion of the Tender Offer, TAKAGI will no longer be an equity method affiliate of NHI.
The settlement of the Tender Offer is scheduled for April 11, 2017, and is expected to have no impact on NHI's financial results for the fiscal year ending March 2017.
The impact on NHI's financial results for the fiscal year ending March 2018 is expected to be minimal. If the possibility of a significant impact arises in the future, NHI will immediately make an announcement to that effect.
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Nomura
Nomura is an Asia-headquart ered f inancial services group w ith an integrated global netw ork spanning over 30 countries. By connecting mar kets East & West, Nomura services the needs of indiv iduals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Mar kets and Invest ment Banking). Founded in 1925, the f irm is built on a tradition of disciplined entrepreneurship, serving clients w ith creative solutions and cons idered thought leadership. For f urther inf or mation about Nomura, visit w w w.nomura.com.
Nomura Holdings Inc. published this content on 20 February 2017 and is solely responsible for the information contained herein.
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