Notice Regarding the Commencement of Tender Offer for Shares of Career Bank Co., Ltd. (Securities Code: 4834)

Overview and Purpose of the Tender Offer

Hokuyo Bank, Ltd. has initiated a tender offer to acquire all shares of Career Bank Co., Ltd. (excluding treasury stock), aiming to make it a wholly owned subsidiary. The purchase price is set at 1,755 yen per share, representing approximately a 45% premium over the closing price on the Sapporo Securities Exchange. The minimum number of shares to be purchased is set at 638,000 shares (64.25%), and if this threshold is not met, the tender offer will not proceed. The tender offer period is set for 34 business days from March 4, 2026, to April 21, 2026.

Fairness Assurance Measures for the Tender Offer and Future Plans

The fairness of the tender offer price is secured based on equity valuation reports prepared by independent third-party valuation institutions (Daiwa Securities and IR Japan). The target side has established an independent special committee, which conducted multiple negotiations to raise the price. Following the successful completion of the tender offer, the target will transition to a company with an audit & supervisory board, and directors from the tender offeror group are scheduled to be dispatched. The employment conditions of the target’s employees are expected to be maintained in principle. Delisting may occur due to privatization, with squeeze-out procedures planned through share purchase requests or share consolidation.