Air Water acquires majority stake in Cimedical, delisting expected

Air Water Inc.'s tender offer for Cimedical shares, launched on August 8, 2025, concluded on October 6, 2025. The offer resulted in 20,177,973 shares being tendered, leading to Air Water acquiring a controlling interest. Following the settlement of the tender offer on October 14, 2025, Air Water's ownership of Cimedical's voting rights will exceed 50%, making it the new parent company and largest shareholder.

Before the tender offer, Air Water held 19,146,900 Cimedical shares, representing 38.29% of voting rights. Post-acquisition, Air Water will hold 39,324,873 shares, increasing its voting rights to 78.65%. The acquisition price for the tendered shares amounted to JPY30,266 million.

As a result of this transaction, Cimedical is expected to become a consolidated subsidiary of Air Water Inc. and will undergo delisting from the Tokyo Stock Exchange Standard Market. Further details regarding the delisting process and timeline will be announced after discussions between Cimedical and Air Water.