Konica Minolta : (Change of Disclosure Matters) Notice on Establishment of a Joint Venture with CHANGE Inc. through a Company Split (Simplified Incorporation-type Comp

March 28, 2022

To whom it may concern,

Company name: Konica Minolta, Inc. Representative: Shoei Yamana, President and CEO Stock Exchange Listing: Tokyo (First Section) Local Securities Code Number: 4902

Contact: Mami Iwamoto, General Manager, Corporate Communications Division Tel: [phone]

(Change of Disclosure Matters)

Notice on Establishment of a Joint Venture with CHANGE Inc. through a Company Split (Simplified

Incorporation-type Company Split), Assignment of Shares of the New Subsidiary and Capital

Increase by Third Party Allotment

Konica Minolta, Inc. announces that it has amended a part of the Incorporation-type Company Split, which was originally announced in the timely disclosure "Notice on Establishment of a Joint Venture with CHANGE Inc. through a Company Split (Simplified Incorporation-type Company Split), Assignment of Shares of the New Subsidiary and Capital Increase by Third Party Allotment" dated December 24, 2021 and in the timely disclosure "(Progress of Disclosure Matters) Notice on Establishment of a Joint Venture with CHANGE Inc. through a Company Split (Simplified Incorporation-type Company Split), Assignment of Shares of the New Subsidiary and Capital Increase by Third Party Allotment" dated January 26, 2022.

The item numbers are in line with "Notice on Establishment of a Joint Venture with CHANGE Inc. through a Company Split (Simplified Incorporation-type Company Split), Assignment of Shares of the New Subsidiary and Capital Increase by Third Party Allotment" dated December 24, 2021 and the changes are underlined.

1. Reason for Changes

As a result of examinations to provide services to local governments as a joint venture as soon as possible, it was decided that it was necessary to accelerate the establishment of the company in March.

2. Contents of Changes

II. Incorporation-type Company Split

1. Summary of the Incorporation-type Company Split

Date of the resolution by the President and Representative Executive Officer	December 24, 2021
Effective date of Company Split	April 1, 2022

4. Overview of the Business Division to be Split

• (2) Operating results of the divisions to be divided

  Revenue 434,484 thousand yen

  (Note) Revenue figures are forecasted figures for the fiscal year ending March 31, 2022.

• (3) Items and book values of assets and liabilities to be split

(Thousands of yen)

Assets	Liabilities
Item	Book value	Item	Book value
Current assets	37	Current liabilities	-
Non-current assets	180,749	Non-current liabilities	-
Total assets	180,786	Total liabilities	-

(Note) Assets and liabilities are forecasted figures for the fiscal year ending March 31, 2022.

• IV. Third Party Allotment

• 1. Outline of the Third Party Allotment

  (1)Payment date	April 1, 2022 (planned)
  (2)Number of new shares to be issued	300 shares
  (3)Issue price	1 million yen per share
  (4)Total issuance	300 million yen
  (5)Allottee	CHANGE Inc.

• V. Schedule of the Transactions

  December 24, 2021	Date of decision by the Company's President and CEO
  December 24, 2021	Date of resolution by CHANGE's Board of Directors
  December 24, 2021	Date of execution of the Joint Venture Agreement
  April 1, 2022	Effective date of the Transactions (planned)
  April 1, 2022	Date of establishment of the joint venture (planned)
  April 1, 2022	Date of start of operations by the joint venture (planned)

• II. Incorporation-type Company Split

• 1. Summary of the Incorporation-type Company Split 2

Date of the resolution by the President and Representative Executive Officer	December 24, 2021
Effective date of Company Split	March 28, 2022

4. Overview of the Business Division to be Split

• (2) Operating results of the divisions to be divided

  Revenue 346,468 thousand yen

  (Note) Revenue figures are forecasted figures for the fiscal year ending March 31, 2022.

• (3) Items and book values of assets and liabilities to be split

(Thousands of yen)

Assets	Liabilities
Item	Book value	Item	Book value
Current assets	837	Current liabilities	-
Non-current assets	175,621	Non-current liabilities	-
Total assets	176,458	Total liabilities	-

(Note) Assets and liabilities are forecasted figures on March 28, 2022.

• IV. Third Party Allotment

• 1. Outline of the Third Party Allotment

  (1)Payment date	By the end of April 2022 (planned)
  (2)Number of new shares to be issued	300 shares
  (3)Issue price	1 million yen per share
  (4)Total issuance	300 million yen
  (5)Allottee	CHANGE Inc.

• V. Schedule of the Transactions

December 24, 2021	Date of decision by the Company's President and CEO
December 24, 2021	Date of resolution by CHANGE's Board of Directors
December 24, 2021	Date of execution of the Joint Venture Agreement
March 28, 2022	Effective date of the Incorporation-type Company Split (planned)
March 28, 2022	Date of establishment of Govmates Inc.
April 1, 2022	Date of the Share Transfer (planned)
April 1, 2022	Date of start of operations by Govmates Inc. (planned)
By the end of April 2022	Date of Third Party Allotment (planned)
Reference Information
● December 24, 2021

Notice on Establishment of a Joint Venture with CHANGE Inc. through a Company Split (Simplified 3

Incorporation-type Company Split), Assignment of Shares of the New Subsidiary and

Capital Increase by Third Party Allotmenthttps://www.konicaminolta.com/global/newsroom/2021/1224-01-01.html

• ● January 26, 2022

(Progress of Disclosure Matters) Notice on Establishment of a Joint Venture with CHANGE Inc. through a Company Split (Simplified Incorporation-type Company Split), Assignment of Shares of the New

Subsidiary and Capital Increase by Third Party Allotmenthttps://www.konicaminolta.com/global/newsroom/2022/0126-01-01.html

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