Ryoyo Electro Corporation (TSE:8068) agreed to acquire 18.71% stake in Ryosan Company, Limited (TSE:8140) from Silchester International Investors LLP for approximately ¥15.8 billion on February 7, 2023. Ryoyo Electro Corporation entered into an Memorandum of Understanding to acquire 18.71% stake in Ryosan Company, Limited on May 15, 2023. The deal is subject to Ryoyo Electro Corporation board. As of February 7, 2023 Ryoyo Electro Corporation (TSE:8068) board approved the deal. The deal is expected to close on February 9, 2023. As of May 15, 2023, the transaction is expected to close on April 1, 2024. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor to Ryosan Company.

Ryoyo Electro Corporation (TSE:8068) completed the acquisition of 18.71% stake in Ryosan Company, Limited (TSE:8140) from Silchester International Investors LLP on May 15, 2023.