Aeon Co., Ltd. (TSE:8267) made a tender offer to acquire 37.2% stake in Can Do Co., Ltd. (TSE:2698) from Kazuya Kido, Keiko Kido and others for ¥16 billion on October 14, 2021. Under the terms, a maximum of 5.9 million shares will be acquired and a minimum of 3.1 million shares will be acquired at ¥2700 per share. 3.1 million shares will acquired from Kazuya Kido and Keiko Kido. If the first tender offer is successful, on the business day following the day the payment is completed, Aeon plans to start a tender offer with a price (¥2,300 yen) lower than the first tender offer price (¥2,700 yen) as the purchase price. The Tender Offer does not intend to delist the Company's shares, and Can Do Co's shares will remain listed on the First Section of the Tokyo Stock Exchange, Inc. after the Tender Offer. Offer period will run from October 15, 2021 to November 24, 2021. A special committee if formed by Can Do Co. consisting of four members, Toshiro Tamura (Audit and Supervisory Committee Member, Certified Accountant) and Naoki Iida (Audit and Supervisory Committee Member, Lawyer) who are outside directors of Can Do Co, and Akira Nishida (Lawyer, Nishida Law Office) and Yoshihiko Terada (Certified Accountant, Trustees Advisory K.K.), as outside experts.

Kitahama Partners acted as a legal advisor, Deloitte Tohmatsu Financial Advisory LLC acted as a financial advisor and Plutus Consulting Co., Ltd. acted as as third-party calculation organization for Can Do Co., Ltd. Mizuho Securities Co., Ltd., acted as a financial advisor for Aeon.