Shintaro Matsuki made an offer to acquire remaining stake in Sakai Ovex Co.,Ltd. (TSE:3408) from group of shareholders for ¥ 23.4 billion in management buyout transaction on July 27, 2021. Shintaro Matsuki holds 35,600 shares of Sakai Ovex Co.,Ltd and will acquire 6.15 million shares of target. Shintaro Matsuki plans to continue to manage the Company as the President and Representative Director after this transaction. An independent special committee was established consisting of members independent of the parties related to the Tender Offer. The Special Committee has decided to implement the Tender Offer with the unanimous consent of all the Board of Directors of the Company on July 27, 2021. Transaction is subject to Minimum tender. Minority shareholders who did not apply for the Tender Offer will be finally delivered in the Squeeze-out procedure scheduled to be carried out after the Tender Offer, and the amount of money to be delivered in the procedure. Shintaro Matsuki plans to delist the company post completion. Tender offer will commence from July 28, 2021 to September 8, 2021. Mizuho Securities Co., Ltd .acted as tender offer agent. TMI Associates acted as legal advisor and KPMG FAS Co., Ltd. acted as financial advisor.

Shintaro Matsuki acquired remaining stake in Sakai Ovex Co.,Ltd. (TSE:3408) from group of shareholders on September 8, 2021. The change in parent company and largest shareholder which is a major shareholder will
occur on September 15, 2021 as a result of the Tender Offer.