Minebea Mitsumi raised its tender offer for Shibaura Electronics to ¥6,200 ($42) per share Thursday, matching Taiwan’s Yageo in an intensifying battle for the Japanese temperature sensor manufacturer.
The ball bearings producer initially entered the fray as a defensive bidder at ¥5,500 per share after Yageo launched an unsolicited takeover attempt. Yageo had escalated its own bid from an original ¥4,300 to ¥6,200 per share in May, valuing the deal at approximately $630 million.
Shibaura’s shares closed Thursday at ¥5,910, suggesting investors expect further bidding escalation. The company has emerged as a flashpoint in Japan’s approach to foreign acquisitions, particularly from Asian rivals.
Japan’s finance ministry recently classified Shibaura as core to national security, requiring government notification for any foreign takeover. This designation reflects growing scrutiny of technology transfers in critical sectors, especially semiconductors and sensors used in automotive and industrial applications.
The bidding war highlights tensions between Japan’s push for corporate governance reform and resistance to foreign control of strategic assets. Yageo, which specializes in passive electronic components, faces an uphill battle against domestic preference and regulatory hurdles.
Minebea Mitsumi announced Thursday it will raise its tender offer price for Shibaura Electronics to ¥6,200 ($42) per share, matching the bid from Taiwan’s Yageo, according to reports. The outcome will test Japan’s openness to cross-border dealmaking in sensitive industries.
