Square Enix will propose friendly buying to make "Tecmo" a subsidiary, aim for a majority acquisition

Mr. Itagaki Mr. Ishinagu Itagaki who was also the director of Tecmo's in-house development team "Team NINJA", who worked on the "DEAD OR ALIVE" series and "NINJA GAIDEN" series, left the tecmo as a main cause and succeeded Temmo and Mr. Yasumi Yasuda, President and Representative Director of Tecmo, seeking a total of 148 million yen for compensation and compensationAppealThen, as if to respond to this, it is becoming rumored that the main force of the development team ran away, but at last SQUARE ENIX started to acquire it.

And from today at 13 o'clock SQUARE ENIX will hold an emergency press conference on "Proposal for Friendly Tender Offer for the company's shares to Tecmo, Inc." and Yoichi Wada, President and Representative Director of Square Enix, will attend .

Details are as below.
(PDF file)"Proposal on Friendly Tender Offer of the Company's Share to Tecmo Corporation"

The purchase price is 920 yen per share, plus a premium of more than 30% against the closing price (706 yen) on August 28, 2008. Because we aim to acquire a majority of outstanding shares, total purchase price isIt will be over 11 billion yenplans.

In addition, if it is not possible to obtain an opinion of approval from Tecmo's Board of Directors by September 4, 2008, the TSE discontinues and TSE will exercise its stock of Tecmo from 9:01 AM to 31 minutesTemporary sale stopI made it.

What will happen when this acquisition proposal goes through is that the organization and brand of Tecmo will become a company under the holding company "Square Enix Holdings" holding company which will be born by organization reorganization in October as it is. For the sake of simplicity, treatment is the same as Taito.

If the acquisition is realized, the quality of "DEAD OR ALIVE" series and "NINJA GAIDEN" series will rise dramatically, or conversely, some effect will be produced in game development of SQUARE ENIX.

It may be something more obvious at a press conference from 13 o'clock.

2008/08/29 17:05 Addendum
A state of Q & A etc. at this interview was posted on Famitsu.com.

President of SQUARE ENIX WADA, on the proposal to purchase TECMO shares - Famitsu.com