The Longreach Group Ltd. made a tender offer to acquire 46.3% stake in Japan Systems Co.,Ltd. (JASDAQ:9758) from DXC Technology Company (NYSE:DXC) and others for ¥ 7.1 billion on December 24, 2020. The tender offer price is ¥ 590 per share. In a related transaction.

Under the terms The Longreach Group Ltd. will acquire 12.06 million shares of Japan Systems Co.,Ltd. The Longreach Group Ltd. entered into a basic agreement to acquire an unknown minority stake in Japan Systems Co.,Ltd. from DXC Technology Company. The Offer is subject to a minimum threshold, requiring that 3.4 million shares be tendered into the Offer in order for the Offer to proceed. The Longreach tender offer has received the recommendation of a Special Committee established by the board of directors of Japan Systems and has received the unanimous support of the disinterested directors of the board of directors of Japan Systems. The period of the Offer is 31 business days from December 25, 2020 to February 15, 2021.

Mizuho Securities Co., Ltd., Nagashima Ohno & Tsunematsu and Nomura Securities Co., Ltd. acted as the financial advisor, legal advisor and transfer agent respectively to Japan Systems Co.,Ltd. Stand by C Co., Ltd. acted as the financial advisor to The Longreach Group Ltd.