Key Facts
• September 2, 2025: Yageo announces approval under Japan’s Foreign Exchange and Foreign Trade Act.
• Approval ensures confidence in completing the tender offer (TOB) for Shibaura Electronics.
• August 27, 2025: Yageo anticipated approval after discussions with Japan’s Ministry of Economy.
• TOB deadline extended to September 18, 2025, with a price of ¥7,130 per share.
• Competing bidder Minebea Mitsumi offers ¥6,200 per share, with a deadline of September 11, 2025.
• Shibaura Electronics to reassess its stance based on potential synergies and shareholder benefits.
• Japan requires foreign investors to file prior notifications for investments affecting national security.
Summary
Taiwanese electronics manufacturer Yageo has received approval from the Japanese government under the Foreign Exchange and Foreign Trade Act for its acquisition of Shibaura Electronics. This approval, announced on September 2, 2025, eliminates concerns about the feasibility of the tender offer (TOB), which began on May 9, 2025. Yageo extended the TOB deadline to September 18, 2025, with a price of ¥7,130 per share, while rival bidder Minebea Mitsumi offers ¥6,200 per share until September 11, 2025. Shibaura Electronics is evaluating the potential synergies and benefits for shareholders before finalizing its position. Japan’s government mandates prior notifications for foreign investments to address national security concerns.
