Yamaha Motor Co., Ltd. (TSE:7272) entered into an agreement to acquire the remaining 41.01% stake in Yamaha Motor Robotics Holdings Co., Ltd. (TSE:6274) from a group of shareholders for ¥13.6 billion on February 10, 2020. Under the terms of the transaction, Yamaha Motor Co., Ltd. through an tender offer will acquire the remaining 18.2 million shares of Yamaha Motor Robotics for ¥750 per common share. Upon completion of the transaction, Yamaha Motor Robotics Holdings Co., Ltd. will operates as a wholly owned subsidiary of Yamaha Motor Co., Ltd. If Yamaha Motor Co., Ltd. fails to acquire all of Yamaha Motor Robotics Holdings Co., Ltd.'s shares then Yamaha Motor Co., Ltd. is scheduled to carry out a squeeze-out procedure. The transaction is subject to minimum tender of 3.4 million common shares of Yamaha Motor Robotics Holdings Co., Ltd. The transaction was approved by the Board of Directors of Yamaha Motor Robotics Holdings Co., Ltd. An independent special committee was formed to evaluate the terms of the offer. Tender offer will commence on February 13, 2020 and end on April 10, 2020. Mizuho Securities Co., Ltd. acted as financial advisor while Mori Hamada & Matsumoto LPC acted as legal advisor to Yamaha Motor Co., Ltd. Sato Sogo Law Office acted as legal advisor and Plutus Consulting Co., Ltd. acted as fairness opinion provider and financial advisor to Yamaha Motor Robotics.

Yamaha Motor Co., Ltd. (TSE:7272) completed the acquisition of 34.5% stake in Yamaha Motor Robotics Holdings Co., Ltd. (TSE:6274) from a group of shareholders for ¥11.5 billion on April 10, 2020.