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Mitsuba Completes Tender Offer for Ryomo Systems

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Mitsuba (TYO:7280) said it completed its tender offer for Ryomo Systems Co.,Ltd (TYO:9691) on Wednesday, buying over 1.6 million shares for 8.32 billion yen, according to a Thursday filing on the Tokyo Stock Exchange.

The Tokyo-listed company said that the offer launched on May 15 concluded on Wednesday, exceeding the minimum acceptance threshold of 537,260 shares priced at 5,200 yen per share.

The settlement of the offer is scheduled to begin on July 15, with payments to be made in cash. Following the settlement, the company is expected to hold 97.03% in Ryomo.

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