Fujitsu Limited (TSE:6702) made a tender offer to acquire remaining 47.22% stake in Fujitsu Frontech Limited (TSE:6945) for ¥17.5 billion on July 30, 2020. As reported, Fujitsu Limited will acquire a maximum of 11.3 million shares in Fujitsu Frontech Limited at a price of ¥1,540 per share and the options(4th, 5th, 6th, 7th, 8th, 9th, 10th, 11th and 12th series) at a price of ¥1 per option. Fujitsu Limited intends to acquire a minimum of 3.3 million shares in Fujitsu Frontech Limited. If the total number of tendered shares does not reach the lower limit of the number of shares to be purchased of 3.3 million shares, Fujitsu Limited will not purchase any shares of Fujitsu Frontech. Following the acquisition, Fujitsu Frontech Limited will become a wholly owned subsidiary of Fujitsu Limited. Fujitsu Frontech's shares will be delisted after a series of procedures.

The Board of Fujitsu Frontech Limited resolved the tender offer on July 30, 2020. The Board of Directors meeting of Fujitsu Frontech recommends that all shareholders of Fujitsu Frontech apply for the tender offer. A special committee has been established by Fujitsu Frontech to oversee the tender offer. The tender offer period will commence on July 31, 2020 and will run till September 14, 2020. As of September 11, 2020, the tender offer will close on September 29, 2020 and commencement of payment will be from October 6, 2020. Mizuho Securities Co., Ltd. acted as financial advisor and tender offer agent to Fujitsu Limited in respect of the tender offer. Anderson Mori & Tomotsune LPC acted as legal advisor to Fujitsu Frontech Limited.