Endeavour United Investment Limited Partnership, a fund managed by Endeavour United Co., Ltd. concluded a share transfer contract to acquire Pizza Hut Japan Ltd. and Phoenix Foods Inc. from KFC Holdings Japan, Ltd. (TSE:9873) on May 10, 2017. Under the terms, 2,500 shares, representing 100% stake in Pizza Hut Japan Ltd. and 20 shares, representing 100% stake in Phoenix Foods Inc. will be acquired. For the year ended March 31, 2017, Pizza Hut Japan Ltd. had net assets of ¥647 million, total assets of ¥2.94 billion, sales of ¥14.35 billion, operating income of ¥162 million and net income of ¥40 million. For the year ended March 31, 2017, Phoenix Foods Inc. had net assets of ¥16 million, total assets of ¥63 million, sales of ¥570 million, operating loss of ¥8 million and net income of ¥31 million. The transaction was resolved by the Board of Directors of KFC Holdings Japan, Ltd. on May 10, 2017 and is expected to close on June 12, 2017.

Endeavour United Investment Limited Partnership, a fund managed by Endeavour United Co., Ltd. cancelled acquisition of Pizza Hut Japan Ltd. and Phoenix Foods Inc. from KFC Holdings Japan, Ltd. (TSE:9873) on May 10, 2018.