23 March 2023
Notice Concerning Results of the Tender Offer for Shares of Nissin Electric Co., Ltd. and TECHNO ASSOCIE Co., Ltd.
At the Board of Directors meeting held on February 2, 2023, Sumitomo Electric Industries, Ltd. (President: Osamu Inoue; the “Company”) resolved to acquire common stock of Nissin Electric Co., Ltd. (President: Yoshihiro Matsushita; “Nissin Electric”) and TECHNO ASSOCIE Co., Ltd. (President: Mamoru Moritani; “TECHNO ASSOCIE”) through a tender offer (the “Tender Offer”) in accordance with the Financial Instruments and Exchange Act to make Nissin Electric and TECHNO ASSOCIE its wholly owned subsidiaries. The Tender Offer has been conducted since February 3, 2023 and ended on March 22, 2023.
Since the aggregate numbers of the tendered shares (the “Tendered Shares”) for both Nissin Electric and TECHNO ASSOCIE have each exceeded their respective minimum numbers of shares to be purchased, the Company will purchase all of the Tendered Shares as described in the tender offer commencement announcement and the Tender Offer Registration Statement, and the Company plans to implement a series of procedures to acquire all of Nissin Electric stock and TECHNO ASSOCIE stock.
Please see the below materials for further details.