Yoshimoto Approves Tender Offer From Investment Firm

Yoshimoto Kogyo Co (Yoshimoto)., one of the major talent agencies, announced that it approved a tender offer launched by Quantum Entertainment Co. representing a consortium of about 20 firms. Quantum Entertainment is a unit of Quantum leaps Co. led by former Sony chairman Nobuyuki Idei. Its shareholders are Fuji Media Holdings Inc., Nippon Television Network Corp and 3 other private broadcasters, Dentsu Inc. and Softbank etc. The total acquisition cost will be about 50 billion yen. Yoshimoto will be delisted from the Tokyo Stock Exchange and the Osaka Stock Exchange.