Ruby LLC concluded an agreement to acquire a 22.85% stake in Japan Craft Holdings Co.,Ltd. (TSE:7135) from Emerald LLC for ¥1.8 billion on December 21, 2022. Offering price is ¥647 cash per share for 2,810,300 shares of Japan Craft Holdings. Following this transaction, Ruby will hold 22.85% stake and Emerald will hold no stake in Japan Craft Holdings.

Transaction is expected to be completed on January 10, 2022. Ruby has the right to nominate two (2) directors of Japan Craft Holdings (hereinafter, a person whom Ruby has appointed as a director shall be referred to as a “Ruby Nominated Director”). This transfer will have no impact on Japan Craft Holdings' consolidated results for the fiscal year ending June 2023.