[Kaga Electronics] Change in Tender Offer Conditions and Policy for Going Private | July 2026

Overview of the Tender Offer

Kaga Electronics has reduced the minimum purchase quantity in Shin-Ko Trading’s tender offer from 19,226,700 shares to 15,988,500 shares, and extended the period until August 3, 2026. The purchase price remains unchanged at 1,580 yen. By extending the period, it aims to provide shareholders with more time to decide and promote going private. The reduction in the planned purchase quantity considers voting rights ratio and shareholders’ decision-making confidence.

Future Policy and Impact on Shareholders

Kaga Electronics plans to proceed with going private through share consolidation and additional acquisitions after the tender offer is successful. It will consider protecting minority shareholders’ interests and ensuring fairness based on voting rights ratio and shareholders’ approval, respecting shareholders’ decisions. The change in purchase conditions aims to balance consideration for minority shareholders and the elimination of coercive pressures, ultimately aiming for going private.