(Progress Disclosure) Notice of Partial Change Concerning the Scheduled Commencement of a Tender Offer by BCPE Blitz Cayman, L.P. for Kakaku.com, Inc.

Overview of the TOB and Pricing

This partial change concerns the notice on the scheduled commencement of a tender offer under the Financial Instruments and Exchange Act by BCPE Blitz Cayman, L.P., in which LY Corporation indirectly holds an interest, for ordinary shares and subscription rights to acquire shares of Kakaku.com, Inc. The offer price had been set at 3,597 yen, and it was planned to be 3,720 yen if a non-tender agreement with KDDI could be concluded; however, the policy is now to set the price at 3,700 yen even if such an agreement with KDDI is not concluded. All regulatory clearances have been completed, and the offer is planned to commence promptly once the target’s favorable opinion and a recommendation to shareholders to tender are obtained. The offer period has been prolonged, and the start date is undecided.

Target-Side and Market Developments and Outlook

Given Kamgras 1’s past offer price increases and policy to raise the price, the bidder is setting 3,700 yen as the base price. The final commencement timing is expected to be determined depending on the target’s special committee’s decisions and approvals as well as the status of clearances. Taking into account Kamgras 1’s actions and the impact on market share prices, the feasibility of obtaining the target shareholders’ favorable opinion and a recommendation to tender will be the focus.