diff --git a/win32/Makefile.sub b/win32/Makefile.sub
index 36d8f34e9a..76555f9193 100644
--- a/win32/Makefile.sub
+++ b/win32/Makefile.sub
@@ -1489,9 +1489,8 @@ rubyspec-capiext: $(RUBYSPEC_CAPIEXT_EXTS)
 {$(RUBYSPEC_CAPIEXT_SRCDIR)}.c{$(RUBYSPEC_CAPIEXT)}.so:
 	$(ECHO) building $(@F)
 	$(Q)$(MAKEDIRS) $(@D)
-	$(Q)echo> $*.def EXPORTS
-	$(Q)echo>> $*.def Init_$(*F)
-	$(Q)$(LDSHARED) -Fe$(@) $(INCFLAGS) $(CFLAGS) $(CPPFLAGS) $< $(LIBRUBYARG) -link $(DLDFLAGS) $(XLDFLAGS) $(LIBS) $(LOCAL_LIBS) -implib:$*.lib -pdb:$*.pdb -def:$*.def
+	$(Q)(echo EXPORTS&&echo Init_$(*F))> $*.def
+	$(Q)$(LDSHARED) -Fe$(@) -Fo$(*).obj $(INCFLAGS) $(CFLAGS) $(CPPFLAGS) $< $(LIBRUBYARG) -link $(DLDFLAGS) $(XLDFLAGS) $(LIBS) $(LOCAL_LIBS) -implib:$*.lib -pdb:$*.pdb -def:$*.def
 !if defined(LDSHARED_0)
 	$(Q)$(LDSHARED_0)
 	$(Q)$(LDSHARED_1)