Japan's Fuji Soft to launch offer to take four listed subsidiaries private

TOKYO, Nov 09 (MSN) - 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. ...continue reading