Regarding the TOB = tender offer from SBI Holdings, a major online securities company, Shinsei Bank has released a document stating that the explanation on the SBI side is not sufficient.

SBI Holdings is the largest shareholder of Shinsei Bank, and is conducting a takeover bid for Shinsei Bank from the 10th of this month to the 25th of next month, and will buy up to 48% of the shares to renew its management team.



In response, Shinsei Bank released a document for shareholders and investors on the 16th, stating that the explanation on the SBI side leading up to the TOB is not sufficient.



According to this, the capital and business alliance proposed by SBI two years ago was proposed because it would not lead to the repayment of the public funds remaining at Shinsei Bank and would hinder business with regional financial institutions. At the time of refusal, it is not shown that the SBI side replied "I have no objection at all".



In addition, regarding Shinsei Bank's business alliance with Monex, Inc., which has a rival relationship with SBI, the bank said that the SBI side "reached the alliance without any contact", while the bank made SBI's subsidiary a candidate for the alliance. He pointed out that he consulted as one and explained the results.



Shinsei Bank plans to discuss the pros and cons of the takeover bid at the board meeting on the 17th, but wants to ask shareholders to take a cautious approach by clarifying the differences between the two before the board meeting. ..

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