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FINWIRES

KKR Offloading Entire Stake in Kokusai Electric

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KKR HKE Investment, the principal shareholder of Kokusai Electric (TYO:6525), is selling all its shares in the company, representing 10.57% of total voting rights, via securities firms.

Nomura Securities will coordinate purchase orders for the sale and will temporarily become a principal shareholder with an 11.55% voting stake after the transaction, according to a statement on Wednesday.

Nomura has confirmed that it plans to immediately resell the shares in domestic and overseas markets and will cease to be a principal shareholder shortly thereafter.

The sale is scheduled for May 22, with Nomura's temporary holding period expected to be brief due to its role as an intermediary.

Kokusai Electric said that this change in principal shareholder will not impact its financial performance.

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