Koji Hatano made an offer to acquire Pado Corporation (JASDAQ:4833) from RIZAP GROUP, Inc. (SPSE:2928), SANKEI LIVING SHIMBUN Inc. and others for ¥3.4 billion on November 6, 2019. Koji Hatano plans to acquire maximum of 20 million shares and minimum of 14.5 million shares for ¥170 each in the offer. Koji Hatano will enter into a tender offer application agreement with RIZAP on November 6, 2019.

RIZAP has agreed to tender all 13.5 million Pado's shares held in the tender offer. Koji Hatano will enter into a tender offer application agreement with SANKEI LIVING SHIMBUN on November 6, 2019. SANKEI LIVING SHIMBUN has agreed to tender all 1 million Pado's shares held in the tender offer.

The offer is not intended to delist Pado's shares and listing will be maintained. On November 6, 2019, board of directors of Pado expressed an opinion of approval. The offer period will be from November 7, 2019 to December 4, 2019.

ES NETWORKS CO., LTD acted as the financial advisor to Pado. Chuo Sogo Law Office, P.C. acted as the legal advisor to Pado. Tokai Tokyo Securities Co., Ltd. acted as the tender offer agent in the transaction.