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East Japan Railway to Acquire 10% Stake in Toyo Denki Seizo

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East Japan Railway's (TYO:9020) said it plans to acquire 973,500 common shares in Toyo Denki Seizo (TYO:6505) through a combination of a third-party allotment of treasury stock, ToSTNeT-1 transactions, and market purchases, according to a Wednesday filing on the Tokyo Stock Exchange.

The Tokyo-listed company said it will acquire 578,000 shares through a third-party allotment of treasury stock on August 6; 385,000 shares through ToSTNeT-1 transactions with existing shareholders on July 21; and an additional 10,500 shares through market purchases.

The acquisition is scheduled between July 16 and August 18 and is equivalent to 10.07% of the voting rights of all shareholders.

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