Okamoto Industries, Inc. (TSE:5122) made an offer to acquire additional 27.1% stake in Riken Corundum Company Limited (TSE:5395) for approximately ¥570 million on August 7, 2017. Under the terms of the transaction, Okamoto Industries made an offer to acquire 2.5 million shares at ¥229 per share. The tender offer period will start on August 8, 2017 and will close on September 5, 2017.

The settlement will start on September 11, 2017. The transaction was resolved by the board of directors of Okamoto Industries, Inc. Okamura Law Office acted as legal advisor to Riken Corundum Company Limited. Mizuho Securities Co., Ltd. acted as tender offer agent.