Nippon Piston Ring : Notice Regarding the Schedule for the Consolidation of Nippon Piston Ring Co., Ltd. And Riken Corporation

This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. Riken and NPR assume no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

	November 28, 2022
Company:	Nippon Piston Ring Co., Ltd.
Representative: President and Representative Director
	Teruo Takahashi
	(Code: 6461 TSE Prime Market)
Contact:	Operating Officer, General Manager
	Corporate Planning Department
	Eiichi Chiyo
	(TEL. [phone])
Company:	Riken Corporation
Representative: President, CEO & COO
	Yasunori Maekawa
	(Code: 6462 TSE Prime Market)
Contact:	General Manager, Corporate Planning Div.,
	Corporate Management Head Office
	Tenya Mitsuboshi
	(TEL. [phone])

Notice Regarding the Schedule for the Consolidation of Nippon Piston Ring Co., Ltd. And Riken Corporation

As announced in the press release dated July 27, 2022, "Conclusion of a Memorandum of Understanding concerning Consolidation through the establishment of a joint holding company (stock transfer) between Nippon Piston Ring Co., Ltd. and Riken Corporation," Nippon Piston Ring Co., Ltd. (NPR) and Riken Corporation (Riken) have entered into a basic agreement to establish a joint holding company formed by means of mutual stock transfer (hereinafter the "Share Transfer") and to consolidate the two companies on equal terms (hereinafter the "Consolidation"), and specific discussions and deliberations are underway for the Consolidation.

In consideration of the time required for the business combination review by the Japan Fair Trade Commission, which is a prerequisite for the Consolidation, the two companies have changed the schedule for the Consolidation as follows. The new schedule will be promptly announced as soon as it is finalized.

The two companies will continue discussions and deliberations with the aim of realizing the Consolidation as early as possible.

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	Before the change	After the change
Conclusion of final contract regarding the	November 2022 (Scheduled)	TBD
Consolidation
Extraordinary General Shareholders' Meeting	January 2023 (Scheduled)	TBD
(Resolution to approve the Share Transfer)
Date of delisting from Tokyo Stock Exchange	March 30, 2023 (Scheduled)	TBD
(TSE)
Effective date of the Share Transfer	April 3, 2023 (Scheduled)	TBD

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