(Revision) Notice Regarding Changes to the “Announcement of the Commencement of Tender Offer for Shares of Mandom Corporation (Stock Code: 4917)” Following the Submission of a Correction Report for the Tender Offer Statement by Caron Holdings Co., Ltd.

Details of Correction to Tender Offer

Caron Holdings Co., Ltd. has raised the tender offer price for shares of Mandom Corporation from 2,520 yen to 2,600 yen per share, extended the tender offer period from January 29, 2026 to February 12, 2026, and postponed the settlement start date from February 5, 2026 to February 19, 2026. These changes reflect revisions to the performance forecasts of the target and the declaration of intention to conduct a tender offer by another party (KKR).

Future Schedule and Organizational Restructuring Policy

After the tender offer is completed, an extraordinary shareholders meeting including share consolidation and amendments to the articles of incorporation based on Article 180 of the Companies Act is scheduled for mid-April 2026. While considering reinvestment into a new SPC by the Nishimura family shareholders and trends regarding KKR’s tender offer, a two-stage acquisition procedure aiming for privatization is expected to proceed.