Pentel contest KOKUYO's share acquisition did not reach the majority as of December 12, December 12 19:51
KOKUYO announced that its share acquisition ratio was only 45% as of the 12th, as a result of a battle between two writing instrument makers, Pentel. It has not reached the target majority.
KOKUYO launched a hostile takeover against Pentel on the 15th of last month. The goal is to acquire a majority of the shares that have already been acquired, aiming to become a subsidiary.
KOKUYO has raised the purchase price twice to 4200 yen per share, and has called on Pentel shareholders to sell it by the 9th of this month.
KOKUYO announced the share acquisition ratio as of 12th. According to it, it is said that it is only 45.66% of the total including the shares acquired so far. It has not reached the target majority.
KOKUYO has set up a purchase period until the 15th of this month, but after that, if there is a shareholder who wants to sell stock, it will purchase it.
KOKUYO commented, “As the largest shareholder, we will focus on and contribute to Pentel's contribution to corporate value.”