Integral Corporation completed the acquisition of 85.510256% stake in Shinoken Group Co., Ltd. from Hideaki Shinohara, Kyushu Leasing Service Co., Ltd. and others.
September 25, 2022
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Integral Corporation offered to acquire Shinoken Group Co., Ltd. (TSE:8909) from Hideaki Shinohara, Kyushu Leasing Service Co., Ltd. (TSE:8596) and others for ¥58.2 billion on August 10, 2022. The offer price is ¥1600 per share. The Tender Offeror has set the minimum number of shares to be purchased in the Tender Offer to 21,509,600 shares which is 62.87% of total ownership. the Tender Offeror intends to take the Company Shares private. The Tender Offeror intends to cover the funds required for the Transactions, including the Tender Offer, by borrowings from Shinsei Bank, Limited and contributions from Integral, Integral 4 Limited Partnership, Innovation Alpha IV L.P., and Initiative Delta IV L.P., and the Tender Offeror intends to apply the same to the funds required for the Tender Offer.
As of August 24, 2022, Board of Directors of Shinoken Group Co., Ltd. has expressed its opinion in support of the Tender Offer. Anderson Mori & Tomotsune LPC acted as a legal advisor, Credit Suisse Securities (Japan) Limited acted as a financial advisor to Shinoken Group. Mori Hamada & Matsumoto LPC acted as a legal advisor to Integral corporation. Toshiro Mochizuki of Shearman & Sterling acted as legal advisor to Integral Corporation .
Integral Corporation completed the acquisition of 85.510256% stake in Shinoken Group Co., Ltd. (TSE:8909) from Hideaki Shinohara, Kyushu Leasing Service Co., Ltd. (TSE:8596) and others on September 26, 2022. The consideration settlement start date is scheduled to be on October 3, 2022.
KYUSHU LEASING SERVICE CO., LTD. is a Japan-based company mainly engaged in the leasing and installment business. The Company operates in five business segments. The Leasing and Installment segment is engaged in the leasing and installment sale of machinery and equipment. The Financing segment is engaged in the leasing of cash and the purchase of debts. The Real Estate segment is engaged in the leasing and sale of real estate, as well as the investment in anonymous associations. The Fee Business segment is engaged in the soliciting of life insurance, the agency for automobile leasing, the provision of real estate-related services, as well as the nonlife insurance agency business. The Others segment is engaged in the electric power sales business, as well as the goods sales business.
Integral Corporation completed the acquisition of 85.510256% stake in Shinoken Group Co., Ltd. from Hideaki Shinohara, Kyushu Leasing Service Co., Ltd. and others.
KYUSHU LEASING SERVICE CO., LTD. 
