SCSK Corporation (TSE:9719) made an offer to acquire the remaining 30.48% stake in JIEC Co.,Ltd. (TSE:4291) from consortium of sellers for ¥5.8 billion on January 31, 2019. Under the terms, SCSK will acquire 2 million shares at ¥2,750 per share in cash. In a related transaction, SCSK made an offer to acquire the remaining 44.41% stake in VeriServe Corporation (TSE:3724) from group of sellers for ¥15.5 billion on January 31, 2019. Post-acquisition, JIEC will become wholly owned subsidiary of SCSK. Board of Directors of JIEC unanimously approved a resolution to express its opinion in favor of the tender offer and to recommend that shareholders of JIEC to tender their shares through the tender offer at the meeting held on January 31, 2019. The resolution of Board of Directors of SCSK was passed on January 31, 2019. JIEC established a special committee consists of the following three members: Yoshio Fujima, Makoto Kumazawa and Kenichi Saito. The offer will run from February 1, 2019 to March 18, 2019. As of March 27, 2019, the share sell request has been approved for the remaining shares and as a result JIEC Co.,Ltd.'s stock will be delisted.

Nomura Securities Co., Ltd. acted as financial advisor and Nagashima Ohno & Tsunematsu acted as legal advisor to SCSK. SMBC Nikko Securities Inc. acted as financial advisor and Mori Hamada & Matsumoto LPC acted as legal advisor to JIEC. Nomura Securities Co., Ltd. acted as tender offer agent in the transaction as well.