MBK to acquire Makino Milling Machine for over JPY 274 billion

June 18, 2025

Makino supports tender offer citing alignment with management philosophy

MBK announces tender offer for Makino

On June 3, Asia-based investment fund MBK Partners announced a tender offer (TOB) for shares of Makino Milling Machine Co., Ltd. Makino has expressed support for the offer, citing MBK’s understanding of its corporate philosophy of “Quality First.”

Full acquisition planned by end of 2025

MBK Partners plans to launch the TOB around December 2025, aiming to acquire all outstanding shares of Makino—excluding treasury stock—and make the company a wholly owned subsidiary. The offer price is set at JPY 11,751 per share, bringing the total value of the deal to more than JPY 274 billion.

This price exceeds the unsolicited TOB price of JPY 11,000 per share previously offered by Nidec Corporation on April 4, by JPY 751 per share.

Background on MBK and industry involvement

MBK Partners operates across East Asia, with bases in Japan, China, and South Korea. The firm is known in the machine tool sector for acquiring the machine tool business of Korea’s Doosan Infracore (now HD Hyundai Infracore) in 2016. Now the machine tool sector is known as DN Solutions, the largest MT builders in Korea.