HOYA Corporation (TSE:7741) made an offer to acquire NuFlare Technology, Inc. (JASDAQ:6256) from group of sellers for approximately ¥150 billion on December 13, 2019. HOYA will pay ¥12900 per share. HOYA plans to make NuFlare a wholly owned subsidiary. In the case that the offer is successfully completed and HOYA acquires more than 90% stake, HOYA plans to take the necessary procedures to make HOYA the sole shareholder of NuFlare and request to shareholders the sale of all the shares who did not tender their shares in the offer. Depending on the results of the Tender Offer, it is possible that NuFlare shares may be delisted following the designated procedures in accordance with the delisting standards established by the Tokyo Stock Exchange. Upon completion of the tender offer, if HOYA acquires 90% or more of the NuFlare , then HOYA will provide Squeezed-out shareholders with cash amount equivalent to the tender offer price. As per the update on January 16, 2020, Tender offer period ended on January 16, 2020 and the result of tender offer will be announced on January 17, 2020.

The offer is subject to certain procedures and measures that are required under domestic and overseas antitrust and other applicable laws and other similar regulations are completed, certain procedures and measures that are required under the Foreign Exchange and Foreign Trade Act are completed, the tender offer for NuFlare shares by Toshiba Electronic Devices & Storage Corporation (“Toshiba D&S”) announced on November 13, 2019 is not successfully completed (including a situation where the Toshiba D&S Tender Offer is still continuing) and minimum of 7.634 million shares (66.67%) are offered in the offer. HOYA plans for the tender offer period for the Tender Offer to be 30 business days in principle. HOYA aims to commence the Tender Offer in April 2020. Daiwa Securities Co. Ltd. acted as financial adviser for HOYA in the offer.