Polaris Private Equity Fund V, L.P., a fund managed by Polaris Capital Group Co., Ltd. made an offer to acquire Sogo Medical Holdings Co.,Ltd. (TSE:9277) from a group of shareholders for ¥76.3 billion on February 5, 2020. Under the terms of the tender offer, Polaris will acquire 29.9 million shares in Sogo at ¥2550 per share. Kenji Sakamoto (0.23%), Hiroshi Oyamada (3.03%), Tokyo Century (4.82%), The SFP Value Realization Master Fund Limited (6.23%), Mitsui (24.9%), The Bank of Fukuoka (4.11%) and The Kitakyushu Bank (2.70%) have entered into Share Tender Agreement on February 5, 2020 and have thus agreed to tender their shares to the buyer in the tender offer, totaling 13.96 million shares or 46.65% of the total capital of Sogo. Sogo Medical will be wholly owned by Polaris if the offer is successful.

Kenji Sakamoto intends to continue to be the management of Sogo after the Transaction. Hiroshi Oyamada intends to externally continue the support to Sogo, although he will not be involved in the management of Sogo after the transaction same as before. The offer is aimed at acquiring a minimum of 19.96 million shares of Sogo. The offer period is from February 6, 2020 to March 30, 2020.

Polaris Private Equity Fund V, L.P., a fund managed by Polaris Capital Group Co., Ltd. completed the acquisition of Sogo Medical Holdings Co.,Ltd. (TSE:9277) from a group of shareholders on March 23, 2020. As on March 23, 2020, Polaris Capital tendered 27,172,702 shares representing 90.86% stake, and it has exceeded the the lower limit of the number of shares to be purchased and now the shareholders of Sogo Medical Holdings will be required to sell all of its shares in Sogo. As a result of this offer, Sogo will be delisted. On March 30, 2020, Mitsui completed the procedure of transferring its stock.