In relation to the Tender Offer made by NEC Corporation for JAE Shares, the clearance under Chinese anti-trust law was completed.
As Japan Aviation Electronics Industry, Limited (“JAE”) announced in the press release titled “Announcement of Expression of Opinion Concerning the Tender Offer Made by NEC Corporation for JAE Shares” as of November 28, 2016, NEC Corporation (“NEC”) resolved at the meeting of its board of directors held on November 28, 2016, to commence the tender offer (the “Tender Offer”) for JAE shares since the clearance under foreign and domestic anti-trust laws was completed except for China, and the clearance under Chinese anti-trust law was also expected to be completed by no later than the day immediately preceding the expiration of the tender offer period of the Tender Offer and JAE resolved at the meeting of its board of directors held on November 28, 2016 to support the Tender Offer and also resolved to leave the decision to JAE shareholders as to whether they would tender their shares in the Tender Offer.
At this time, NEC informed JAE that since the Chinese Ministry of Commerce issued the document to NEC which approved the purchase of JAE shares through the Tender Offer as of December 16, 2016 (local time), NEC filed an amendment of the Tender Offer Registration Statement with the Director of the Kanto Local Finance Bureau as of December 20, 2016.
According to NEC, for conducting the Tender Offer and making JAE a subsidiary of NEC, the relevant procedures in relation to foreign and domestic anti-trust laws were completed with the above mentioned filing
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Japan Aviation Electronics Industry, Ltd.
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