BCJ-47 Co., Ltd., Toshiyuki Teranishi, an executive officer of Kirindo, and Yukiko Kaneko made an offer to acquire 85.3% stake in Kirindo Holdings Co., Ltd. (TSE:3194) for ¥33.8 billion on September 10, 2020. The offer per share for the tender offer is ¥3500. At the same time, BCJ-47 Co., Ltd will receive ¥27.3 billion loan from The Bank of Tokyo-Mitsubishi UFJ, Ltd., Aozora Bank, Ltd., and Sumitomo Mitsui Banking Corporation which it plans to use to fund the settlement of the tender offer. The Offeror intends to make the Company private through the Tender Offer and squeeze-out procedure, and that the Company's shares will be delisted. There are 7 directors of the surviving company of the merger, 3 from Toyohiko Teranishi and 4 from BCPE Knight Cayman, LP. Having the right, and (2) the number of representative Directors of Shin Kirindo Holdings shall be two or less, immediately after the merger. It has been agreed that the representative Directors of Shin Kirindo Holdings will be Tadayuki Teranishi and Toyohiko Teranishi. Toyohiko Teranishi and Tadayuki Teranishi will continue to manage Kirindo Holdings even after the completion of the tender offer. Hiroyuki Teranishi intends to continue to support Kirindo Holdings as a Director of Kirindo Co., Ltd., a wholly owned subsidiary of Kirindo Holdings. In the tender offer, BCJ-47 has set 5.884 million shares (ownership ratio 51.93%) as the minimum number of shares to be purchased. A Special Committee for reviewing the Proposal for the Transaction has been established. All five directors, excluding Tadayuki and Toyohiko Teranishi, unanimously agree with the Tender Offer. And a resolution recommending all shareholders of the Company to apply for the Tender Offer. The tender offer will run from September 11, 2020 to October 26, 2020. The settlement date is November 2, 2020. Nomura Securities Co., Ltd. acted as tender offer agent. Kitahama Partners acted as legal advisor and Deloitte Tohmatsu Financial Advisory LLC acted as financial advisor to Kirindo Holdings. BCJ-47 Co., Ltd., Toshiyuki Teranishi, an executive officer of Kirindo, and Yukiko Kaneko completed the acquisition of 85.3% stake in Kirindo Holdings Co., Ltd. (TSE:3194) on October 26, 2020. The total number of tendered shares has exceeded the minimum number of shares to be purchased. The settlement of the tender offer will be done on November 2, 2020.