The Minami-Nippon Bank,Ltd. announced a private placemen of 850,000 class B Preferred shares at issue price of ¥10,000 per share for gross proceeds of ¥8,500,000,000 on July 5, 2021. The company will allot shares through third party allotment. The transaction will include participation from The KAGOSHIMA BANK, LTD. for 100,000 shares, Iwasaki Ikuei Bunka Zaidan, General Foundation for 50,000 shares, NANGOKU CORPORATION for 50,000 shares, The Miyazaki Taiyo Bank, Ltd. for 40,000 shares, Amami Credit Cooperative, Uemura Kensetsu K.K., THE OKINAWA KAIHO BANK, Ltd., Kagoshima Kogyo Credit Cooperative, Kagoshima Shinkin Bank, Kagoshima Sogo Shinkin Bank, Ltd., Kagoshima Television Station Co.,Ltd., Celmo Co.,Ltd., Misumi Co., Ltd., Minaminihon Broadcasting Co.,Ltd., Minami-Nippon Shimbun Co Ltd, You&Me Corporation for 30,000 shares each, Kagoshima Sohgo Security Services Co., Ltd., Kagoshima Yomiuri Television Corporation, Kirishima Egg Co.,Ltd., Sanyo Koki K.K, Taisei Corporation, Techno Reinetsu Co.,Ltd., Fresh Minesaki, Y.K. for 20,000 shares each, Amami Oshima Shinkin Bank, Uemuragumi Co., Ltd., Kagoshima Broadcasting Corp., Kyusyusangyo Co.,Ltd., Kyushu Sogo Shinyo K.K., Sugimoto Kensetsu, K.K. , Nankyu Iryo K.K., Nangoku Kotsu Co., Ltd., and NEO Co., Ltd. for 10,000 shares each.

KAGOSHIMA BANK, LTD. will hold 11.76% stake, Iwasaki Ikuei Bunka Zaidan, General Foundation will hold 5.88% stake, NANGOKU CORPORATION will hold 5.88% stake, The Miyazaki Taiyo Bank, Ltd. will hold 4.70% stake, Amami Credit Cooperative, Uemura Kensetsu K.K., THE OKINAWA KAIHO BANK, Ltd., Kagoshima Kogyo Credit Cooperative, Kagoshima Shinkin Bank, Kagoshima Sogo Shinkin Bank, Ltd., Kagoshima Television Station Co.,Ltd., Celmo Co.,Ltd., Misumi Co., Ltd., Minaminihon Broadcasting Co.,Ltd., Minami-Nippon Shimbun Co Ltd, You&Me Corporation will hold 3.52% stake each post closing of the transaction. The company will incur expenses of ¥75,000,000 in relation to the transaction receiving net proceeds of ¥8,425,000,000. The transaction is expected to close on September 30, 2021.

The transaction has been approved by the board of directors of the company.