NTT is expected to sell all of its shares in NEC, with a gain on sale of approximately ¥189.0 billion in its separate-company results. The sale is scheduled to be carried out through an off-market transaction and NEC's tender offer for treasury shares.
On 9 November, NTT announced that it would sell all 65,118,000 NEC shares it held, representing a 4.90% stake. Part of the sale is expected to be conducted off-market, with the remainder handled through NEC's tender offer for treasury shares.
The gain on sale was estimated at ¥189.0 billion in NTT's separate-company results, with an off-market sale and tender offer combined as the disposal methods.
The shares to be sold are NTT's NEC shares, and NTT is expected to have no remaining holding after the sale. Separate reports are drawing attention to how the partnership will be handled going forward.