Announcement Regarding Progress Toward the Tender Offer for the Shares of Calsonic Kansei Corporation (Securities Code: 7248) by CK Holdings Co., Ltd.

[Translation] February 3, 2017

Company Name:	Calsonic Kansei Corporation
Representative:	Hiroshi Moriya, President and CEO
(Securities Code: 7248, First Section of the Tokyo Stock Exchange)
Inquiries:	Atsuhiko Akiyama, General Manager of Financial Strategy & Planning Group, Global Finance Division
Tel:	048-660-2111

Announcement Regarding Progress Toward the Tender Offer for the Shares of Calsonic Kansei Corporation (Securities Code: 7248) by CK Holdings Co., Ltd.

We wish to notify you that, as of today, CK Holdings Co., Ltd. has issued the attached press release titled "Announcement Regarding Progress Toward the Tender Offer for the Shares of Calsonic Kansei Corporation (Securities Code: 7248) by CK Holdings Co., Ltd."

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(Attached material)

"Announcement Regarding Progress Toward the Tender Offer for the Shares of Calsonic Kansei Corporation (Securities Code: 7248) by CK Holdings Co., Ltd." dated February 3, 2017

February 3, 2017

Company Name:	CK Holdings Co., Ltd.
Representative:	William Janetschek, Representative Director
Tel:	03-6268-6000

Announcement Regarding Progress Toward the Tender Offer for the Shares of Calsonic Kansei Corporation (Securities Code: 7248) by CK Holdings Co., Ltd.

CK Holdings Co., Ltd. (the "Offeror") announced in the press release titled "Announcement Regarding the Tender Offer for the Shares of Calsonic Kansei Corporation (Securities Code 7248)" dated November 22, 2016 (the "November 22 Press Release") that the Offeror aimed to commence a tender offer (the "Tender Offer") for the common shares of Calsonic Kansei Corporation (Securities Code: 7248, First Section of the Tokyo Stock Exchange) (the "Target Company") in late February 2017 on the condition that the procedures and steps to obtain the approvals required under various countries' competition laws and other related laws and regulations were completed and the applicable waiting periods had lapsed, among other conditions.

After issuing the November 22 Press Release, the Offeror has been proceeding with the procedures and steps required under Japanese and foreign competition laws and other related laws and regulations to commence the Tender Offer. The Offeror reports that the current status of such procedures is as follows:

Name of Country or Region	Status of Procedures
Japan	On December 16, 2016, the Offeror received from the Japan Fair Trade Commission a notice to the effect that a cease and desist order will not be issued.
China	On January 12, 2017, the Ministry of Commerce of the People's Republic of China issued a written decision not to conduct a detailed review together with its written approval of the share acquisition through the Tender Offer (the "Share Acquisition").
U.S.	The U.S. Department of Justice Antitrust Division and the U.S. Federal Trade Commission (collectively, the "U.S. Antitrust Authorities") did not issue a request for additional information nor did the U.S. Antitrust Authorities obtain an injunction against the Share Acquisition from a U.S. federal court. On December 2, 2016, an early termination of the waiting period was granted.
European Union	On January 4, 2017, the European Commission issued a written approval of the Share Acquisition.

Brazil	On December 9, 2016, the Administrative Council for Economic Defense issued a notice approving the Share Acquisition.
Russia	On December 23, 2016, the Federal Antimonopoly Service of the Russian Federation issued a written statement to the effect that approval is not necessary for the Share Acquisition.
Mexico	On February 2, 2017, the Federal Economic Competition Commission issued a notice approving the Share Acquisition.

Note: All dates are in the local time of the relevant country or region.

As referenced above, the procedures and steps required under Japanese and foreign competition laws to commence the Tender Offer have been completed.

The Offeror plans to commence the Tender Offer on February 22, 2017, subject to the conditions precedent stated in the November 22 Press Release (see Note below) being satisfied. If the Tender Offer is commenced on February 22, 2017 as scheduled and is completed without the extension of the tender offer period or without any other issues arising, the settlement of the Tender Offer is scheduled to start on March 29, 2017.

However, as announced in the November 22 Press Release, since the conditions precedent stated in the November 22 Press Release apply to the commencement of the Tender Offer, the timing of the commencement of the Tender Offer may change if these conditions precedent are not satisfied or waived.

Note: In addition to the completion of procedures and steps required under Japanese and foreign competition laws and other related laws and regulations as well as the lapse of applicable waiting periods, the commencement of the Tender Offer is subject to the following conditions precedent: (1) the Target Company obtains an opinion from a party who does not have any interest in the Target Company, Nissan Motor Co., Ltd. ("Nissan") or the Offeror to the effect that the resolution of the board of directors of the Target Company approving the Transaction (defined as the series of transactions aimed at making the Target Company a wholly-owned subsidiary of the Offeror by acquiring all of the issued and outstanding shares of the Target Company (excluding treasury shares held by the Target Company)) would not be disadvantageous to the minority shareholders of the Target Company; (2) the board of directors of the Target Company adopts, with the affirmative vote of all directors present (excluding any directors who have or are likely to have an interest in the Transaction), a resolution, which has not been withdrawn or amended, to express support of the Tender Offer and to recommend that the shareholders of the Target Company tender their shares in the Tender Offer; and (3) other conditions contained in the Tender Agreement between the Offeror and Nissan dated November 22, 2016. For details, please refer to the November 22 Press Release.

This press release has been prepared for the purpose of informing the public of the progress toward the Tender Offer and has not been prepared for the purpose of soliciting an offer to sell, or making an offer to purchase, any securities. If shareholders wish to make an offer to sell their shares in the Tender Offer, they should first read the Tender Offer Explanation Statement for the Tender Offer and offer their shares or stock options for sale at their own discretion. This press release shall neither be, nor constitute a part of, an offer to sell or purchase, or a solicitation of an offer to sell or purchase, any securities, and neither this press release (or a part thereof) nor its distribution shall be interpreted to be the basis of any agreement in

relation to the Tender Offer, and this press release may not be relied on at the time of entering into any such agreement.

The Tender Offer will be conducted in accordance with the procedures and information disclosure standards prescribed in the Japanese Financial Instruments and Exchange Act, which may differ from the procedures and information disclosure standards in the United States. In particular, Section 13(e) and Section 14(d) of the U.S. Securities Exchange Act of 1934 (as amended) and the rules prescribed thereunder do not apply to the Tender Offer, and the Tender Offer does not conform to those procedures and standards.

Unless otherwise specified, all procedures relating to the Tender Offer are to be conducted entirely in Japanese. If all or any part of a document relating to the Tender Offer is prepared in the English language and there is any inconsistency between the English-language documentation and the Japanese-language documentation, the Japanese-language documentation will prevail.

The financial advisors to the Offeror, the Target Company and Nissan as well as the tender offer agent (including their respective affiliates) may, within their ordinary course of business, engage prior to the commencement of, or during, the tender offer period in the purchase or arrangement to purchase shares of the Target Company for their own account or for their customers' accounts outside the Tender Offer in accordance with Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934, to the extent permitted under Japanese securities regulations and other applicable laws and regulations. Such purchases may be made at the market price through market transactions, or at a price determined by negotiation outside of the market. In the event information regarding such purchases is disclosed in Japan, such information will also be disclosed on the English homepage of the financial advisor or tender offer agent conducting such purchases or will otherwise be made publicly available.

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