Mitsui Chemicals, Inc. (TSE:4183) signed a tender offer agreement to acquire 69.28%% stake in ARRK Corporation (TSE:7873) from ORIX Corporation (TSE:8591), Mizuho Bank, Ltd. and The Bank of Tokyo-Mitsubishi UFJ, Ltd. and others for ¥23 billion on November 29, 2017. As per the terms of the transaction, Mitsui Chemicals, Inc. will acquire 230 million shares at a price of ¥100 per share and preference shares at price of ¥300 per preference share. The preference shares will be acquired from two financial institutions.

ARRK Corporation has approved the transaction and Mitsui Chemicals, Inc. does not intend to delist ARRK Corporation. The tender offer will commence from November 30, 2017 until January 17, 2018. The results of the tender offer will be announced on January 24, 2018 and the settlement will commence on January 24, 2018.

The effect of the tendering shares in the tender offer on ORIX's consolidated financial results for March 31, 2018 will be negligible. Mizuho Securities Co., Ltd acted as tender offer agent in the transaction.