KNT-CT Holdings Co., Ltd. announced that it has entered into a subscription agreement to issue 150 class A shares at a price of ¥100,000,000 for gross proceeds of ¥15,000,000,000 and 250 class B shares at a price of ¥100,000,000 for gross proceeds of ¥25,000,000,000 on May 12, 2021 for total gross proceeds of ¥40,000,000,000 in the transaction. The transaction will include participation from existing investor, Kintetsu Group Holdings Co.,Ltd., Akari LLC and Matsukaze LLC. Kintetsu Group Holdings Co.,Ltd. will subscribe 150 class A shares to own 100% of class A shares, Akari LLC will subscribe 150 class B shares to hold 60% of class B shares and Matsukaze LLC will subscribe 100 class B shares to hold 40% of class B shares in the company after the transaction.

The transaction has been approved by the board of directors and is subject to approval of shareholders in ordinary general meeting. The company will receive net proceeds of ¥39,770,000,000 in the transaction. The company will pay expenses of ¥230,000,000.

The transaction is expected to close on June 30, 2021.