TOKYO (Reuters) -Software developer Fuji Soft said on Wednesday it will launch a tender offer to take private four listed subsidiaries in Japan for a total price of about 41 billion yen ($271.78 million).
The subsidiaries are Vinx, Cyber Com, Cybernet Systems and Fuji Soft Service Bureau.
The offer period is Nov. 9 to Dec. 21.
Fuji Soft holds a more than 50% stake in the companies.
Japanese companies have come under increasing pressure to improve governance and capital efficiency.
One practice that has attracted heightened scrutiny is cross-shareholding, where companies take stakes in partners to cement relationships and avoid activist investors.
Fuji Soft was the subject of a proxy battle last year, when Singapore-based investment hedge fund 3D Investment Partners got two of its nominees on the Japanese company’s board.
($1 = 150.8600 yen)
(Reporting by Rocky Swift and Kaori Kaneko; Editing by Tom Hogue, Jamie Freed and Louise Heavens)
