Passive Components: Yageo Acquires Shibaura Electronics, Raises Tender Offer Price to ¥7,130 for the Fifth Time

Yageo (2327) has initiated a tender offer for Shibaura Electronics (TSE: 6957). To continue advancing the tender offer process and jointly realize a shared vision with the Shibaura Electronics team, fully leveraging synergistic benefits and growth potential, Yageo has decided to increase the tender offer price for Shibaura Electronics from ¥6,635 per share to ¥7,130 per share. This marks the fifth price hike, further widening the gap with the price of MinebeaMitsumi (Tokyo Stock Exchange Code: 6479). In accordance with Japanese regulations, Yageo has extended the tender offer period to September 8, 2025, for the ninth time.

Yageo officially launched the tender offer for Shibaura Electronics on May 9, 2025. Shibaura Electronics is a globally renowned manufacturer of negative temperature coefficient (NTC) thermistors, boasting strong technical capabilities.

In light of recent market dynamics surrounding this transaction, to continue advancing the tender offer process and jointly realize a shared vision with the Shibaura Electronics team, fully leveraging synergistic benefits and growth potential, Yageo has decided to raise the tender offer price for Shibaura Electronics from ¥6,635 per share to ¥7,130 per share. The amended tender offer statement regarding this price adjustment will be submitted on August 25, 2025, in accordance with the Financial Instruments and Exchange Act.

This decision fully reflects Yageo’s firm commitment to long-term strategic partnerships and its deep belief in the synergistic value that the combination of both parties can create. It also highlights the critical role of Shibaura Electronics in advancing the overall vision of Yageo’s sensor business, which has been regarded as one of Yageo’s key growth drivers since 2023.