TAIPEI (Taiwan News) — Taiwanese electronic components manufacturer Yageo has increased its offer price for Shibaura Electronics shares to outbid a competing offer from Japanese parts supplier MinebeaMitsumi.

Yageo, a major supplier for Apple and Nvidia, announced on Saturday it would raise its offer to around 7,100 yen (NT$1467.54) per share, Nikkei Asia reported. This is about 15% more than MinebeaMitsumi’s bid of 6,200 per share. The total acquisition is expected to cost about 110 billion yen.

The move seeks to discourage Shibaura shareholders from selling their shares early to MinebeaMitsumi, according to Nikkei Asia. Yageo previously offered 6,635 yen per share last Thursday.

In response, the Japanese parts company said it would not adjust its offer or the bid deadline of Aug. 28. It pointed out that Yageo extended its offer multiple times without obtaining approval under Japan’s Foreign Exchange and Foreign Trade Act.

Yageo’s FEFTA review is set for Sept. 1, after having been extended twice.

The Taiwanese company has said it does not intend to alter Shibaura’s core identity or operational independence, as it values Japan’s leadership in electronic component technologies.