Core Viewpoint - The acquisition of Shibaura Electronics by Yageo marks a significant milestone as it is the first instance of a foreign company acquiring a large Japanese firm through a voluntary tender offer, reflecting Yageo's commitment to long-term investment in the Japanese market [2][4]. Group 1: Acquisition Details - Yageo has completed the acquisition of Shibaura Electronics with a tender offer acceptance rate of 87.3%, aiming to make Shibaura a wholly-owned subsidiary and delist it by Q1 2026 [2]. - The acquisition cost is approximately 109 billion yen (7.23 billion USD) for 100% of the shares, following a prolonged bidding war [2][4]. - The final acquisition price was set at 7,130 yen per share, surpassing the competing offer from Minebea Mitsumi, which was 6,200 yen per share [2][5]. Group 2: Strategic Implications - Yageo's acquisition aims to enhance its product line and transform into a comprehensive electronic component manufacturer, particularly in the semiconductor temperature sensor market where Shibaura holds the largest global market share [2][6]. - The acquisition is expected to create synergies, allowing Yageo to assist Shibaura in expanding its business beyond Japan into European and American markets [6]. - Yageo's revenue was approximately 4 billion USD last year, with a goal to reach 10 billion USD in the next decade, emphasizing a strategy of providing "one-stop supply" services for passive components [6]. Group 3: Market Context - The demand for passive components is rapidly increasing, driven by the growth of AI and electric vehicles, with significant applications in industrial and automotive sectors [6]. - Yageo's products are currently utilized in approximately 60% for industrial and automotive applications, and 16% for AI server and high-performance computing applications [6].

Core Viewpoint - Yageo Corporation has officially launched a public acquisition of Shibaura Electronics on May 9, 2025, with Shibaura expressing support for the proposal and encouraging shareholders to participate in the voting process [1] Group 1: Acquisition Details - Shibaura Electronics is a globally recognized manufacturer of negative temperature coefficient (NTC) thermistors, showcasing strong technical capabilities [1] - Yageo expresses gratitude to Shibaura's management team, board, and special committee for their support of the acquisition proposal [1] - The constructive interactions and in-depth communications over the past months were key factors in Shibaura's change of stance towards the acquisition [1] Group 2: Regulatory and Procedural Aspects - Due to significant decisions and changes in conditions, Yageo's public acquisition must be extended by ten days until October 3, 2025, to ensure shareholders have ample time to respond and complete the bidding process [1]

Group 1 - Company Yageo (国巨) has completed discussions regarding the conditions for a public acquisition of Shibaura Electronics (芝浦电子) with the Japanese Ministry of Economy, Trade and Industry [1] - Shibaura Electronics is a globally recognized manufacturer of negative temperature coefficient (NTC) thermistors, possessing strong technical capabilities [1] - Yageo has extended the public acquisition period until September 10 this year, in accordance with Japanese regulations [1] Group 2 - The latest acquisition price offered by Yageo has been raised to 7,130 Japanese yen per share [1] - Yageo anticipates that Shibaura Electronics will benefit from its existing global sales channels, allowing for market expansion and deeper customer relationships [1] - The approval for the public acquisition is expected to be obtained by September 10 at the latest, according to assessments from Japanese legal advisors [1]

Core Viewpoint - The competition for acquiring Shibaura Electronics between passive component manufacturers Yageo and Minebea Mitsumi has intensified, with both companies raising their offer prices significantly. Group 1: Acquisition Details - Minebea Mitsumi raised its offer for Shibaura Electronics to 6,200 JPY per share, matching Yageo's previous bid [1] - Yageo subsequently increased its offer to 6,635 JPY per share, marking a 7% increase from the previous bid [1] - Yageo has extended the public acquisition period until September 4, marking the eighth extension of this period [1] Group 2: Strategic Collaboration - Yageo believes that the collaboration will enhance Shibaura Electronics' corporate value by leveraging Yageo's global sales channels and customer relationships [2] - The partnership is expected to expand Shibaura Electronics' product application areas, particularly in future AI applications [3] - Yageo plans to provide financial and R&D resources to support Shibaura Electronics' capacity expansion and future product development, along with advanced automation technology to improve manufacturing efficiency [3] Group 3: Market Context - Shibaura Electronics' stock closed at 6,480 JPY on August 21, reflecting a slight increase of 0.62% [1] - Shibaura Electronics specializes in manufacturing negative temperature coefficient (NTC) thermistors and various sensors for temperature, humidity, and wind speed [3]