Sanyo Special Steel to delist after Nippon Steel takeover

Sanyo Special Steel (TSE:5481) announced today that it will be delisted from the Tokyo Stock Exchange's Prime Market following approval of a demand from Nippon Steel Corporation to acquire all remaining shares of the company. Nippon Steel, which increased its stake to 92.16% through a tender offer completed on March 26, 2025, will pay ¥2,750 per share to remaining shareholders. Trading of Sanyo Special Steel shares will be suspended on April 23, 2025, after a period of being designated as a security to be delisted starting today until April 22, 2025. Sanyo Special Steel's board approved the transaction, citing the benefits of becoming a wholly-owned subsidiary of Nippon Steel, including enhanced synergies and streamlined operations.