Notice Concerning Establishment of Joint Venture (Subsidiary) and Share Acquisition by the Joint Venture (Subsidiarization)

Overview of Joint Venture Establishment and M&A

Kobe Bussan Co., Ltd. plans to establish a joint venture, MEAL HUB Co., Ltd., on April 8, 2026, through joint investment with Gourmet Kineya Co., Ltd. Through this joint venture, shares of 15 companies mainly involved in the in-flight meal business will be acquired and made subsidiaries. This will strengthen the Kobe Bussan Group’s integrated food production and sales system and promote growth and overseas expansion of the “Gyomu Super” brand. By combining Gourmet Kineya’s expertise in dining establishments and in-flight meal operations with Kobe Bussan’s factory management and food procurement functions, the aim is to enhance the corporate value of the group of target companies.

Outlook and Schedule

The execution of this M&A is subject to approval by relevant authorities and other conditions, with the joint venture contract signing, capital increase, and share acquisition expected to be completed within fiscal year 2026. The impact on consolidated results for the fiscal year ending October 2026 is currently being calculated in detail, and earnings guidance revisions will be promptly announced if necessary. The acquisition price has been determined through fair and reasonable negotiation between both parties based on due diligence by a third-party institution.