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It is a TOB aimed at a full consolidation as a wholly owned subsidiary, with shareholders' subscription recommendations and squeeze-out procedures specified. Also details on the establishment of an independent committee and fairness safeguards are described.","jir_summary":"### Overview of the transaction\nFelloTech resolved to acquire Nippon Resistor Manufacturing Co.'s common stock and to make the company a wholly owned subsidiary through a tender offer. The offer price is 1,901 yen per share, planned to acquire 618,700 shares, and is listed on the Tokyo Stock Exchange (Standard). The period is about 30 business days. Details on post-transaction organizational restructuring, squeeze-out procedures, and shareholder protection measures are described.\n\n### Fairness and governance framework\nTo ensure the fairness of the tender offer, the company has established an independent Special Committee. Mizuho Securities serves as Financial Advisor, and City Yuwa Law Office acts as Legal Advisor. A Deloitte valuation report is referenced to explain fairness and elimination of arbitrariness. Concepts regarding extension of the offer period and treatment of the majority of minority shareholders are also described.","jir_financial_highlights":"Offer price: Common stock at 1,901 yen per share (Unspecified)\nPlanned number of shares to be acquired: 618,700 shares (Unspecified)\nOffer period: From September 18, 2026 to November 5, 2026 (30 business days) (Unspecified)\nTotal voting rights of target shares: 12,307 (Unspecified)","jir_category":"","jir_hashtags":"","jir_key_figures":"Offer price: 1,901 yen\nPlanned number of shares to be acquired: 618,700 shares\nTotal voting rights: 12,307\njir_hashtags\n['#NipponResistorManufacturingCo', '#TOB', '#CapitalAlliance', '#FairnessSafeguards']\njir_publication_date\n2026-09-17\njir_source_link\n[Placeholder]\njir_meta_title\n\u3010Nippon Resistor Manufacturing Co.\u3011Start of Tender Offer by FelloTech\uff5c1,901 yen per share \/ 618,700 shares minimum\njir_meta_description\nAnnouncement of the start of the tender offer for Nippon Resistor Manufacturing Co. by FelloTech. Offer price 1,901 yen, about 30 business days, minimum 618,700 shares. Details on the independent committee and fairness safeguards are provided.\njir_og_title\nStart of Tender Offer by FelloTech | Nippon Resistor Manufacturing Co.\njir_og_description\nFelloTech acquires Nippon Resistor Manufacturing Co. stock via a tender offer. Offer price 1,901 yen, minimum 618,700 shares, 30 business days. 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