Hokuriku Electric Power Company (TSE:9505) made an offer to acquire an additional 19.75% stake in Hokuriku Electrical Construction Co.,Ltd. (TSE:1930) for ¥3.9 billion on January 29, 2015. As per the terms of the offer, 4.61 million shares of Hokuriku Electrical Construction will be bought at the price of ¥850 per share. The tender offer period is from January 30, 2015 to March 16, 2015 with the settlement date to be March 23, 2015. The Board of Directors of Hokuriku Electrical Construction Co.,Ltd. passed the resolution to agree to the tender offer for common shares along with passing the resolution to leave it to the judgment of shareholders on whether or not to subscribe to the tender offer. Yamada FAS Co., Ltd. acted as third party appraiser for Hokuriku Electrical Construction Co., Ltd and Nomura Securities Co., Ltd. acted as third party appraiser for Hokuriku Electrical Construction Co and Hokuriku Electric Power Company. Nomura Securities Co also acted as tender offer representative to Hokuriku Electric Power Company and will receive commission of ¥80 million and other expense of ¥10 million. Kitahama Partners acted as legal advisor for Hokuriku Electrical Construction Co., Ltd.

Hokuriku Electric Power Company (TSE:9505) completed the acquisition of an additional 19.76% stake in Hokuriku Electrical Construction Co.,Ltd. (TSE:1930) for ¥3.9 billion on March 16, 2015. Hokuriku Electric acquired 4.6 million shares in the transaction.