Sompo Japan Insurance Inc. and ACA, Inc. made an offer to acquire 34.01% stake in Cedar. Co. Ltd. (JASDAQ:2435) from Business Trust Co. Ltd., Tachibana Co., Ltd. and other shareholders for ¥1.2 billion on August 13, 2012. Under the terms of deal, Sompo Japan Insurance will acquire 1.95 million shares at the price of ¥610 per share. Sompo Japan Insurance concluded a contract with the major shareholders of Cedar. Co. Ltd and agreed that it will subscribe to 1.58 million shares held by the shareholders. The tender offer will commence on August 14, 2012 and will close on September 13, 2012. Minimum number of shares to be purchased is 1.57 million of Cedar Co. Ltd.

The Board of Directors of Cedar. Co., Ltd passed a resolution for the agreement on August 13, 2012. Mizuho Securities Co., Ltd acted as the appraiser and the settlement institution and provided a share valuation report.