Effissimo Capital Management Pte Ltd. through its fund ECM Master Fund offered to acquire an additional 5.29% stake in Saison Information Systems Co., Ltd. (JASDAQ:9640) for ¥1.5 billion on February 9, 2015. ECM will acquire 0.86 million shares for ¥1700 per share and pursuant to completion of offer will own 5.35 million shares, representing 33% stake. In the Board of Directors meeting OF Saison Information Systems on March 5, 2015, the Board of Directors, including 2 external Directors, have unanimously announced opposing opinions to this tender offer, and will not recommend this tender offer to shareholders.

The offer period will run from February 10 to March 24, 2015. Settlement will start on March 30, 2015. Nomura Securities Co., Ltd. acted as financial advisor and Mori Hamada & Matsumoto Law acted as legal advisor to Saison Information Systems.