Pacific Industrial MBO tender offer period extended to December 22

Pacific Industrial Co., Ltd. has extended its tender offer period to December 22, 2025, for a total of 100 business days. This marks a further amendment to the "Notice Regarding Implementation of MBO and Recommendation for Tender," previously adjusted multiple times since July 25, 2025. The extension aims to enhance the likelihood of a successful completion of the tender offer by CORE Inc., the offeror.

A significant development is the oral agreement, "Tender Agreement (ASAHI INDUSTRY)," concluded on December 8, 2025, between the offeror and ASAHI INDUSTRY Co., Ltd., a shareholder holding 319,346 shares (0.55% ownership). This agreement confirms that ASAHI INDUSTRY will tender all its shares and will not revoke its intention. The offeror subsequently filed an amendment to the Tender Offer Notification on December 8, 2025, reflecting this agreement and the extended tender offer period.

Consequently, the "Current Situation" overview now includes ASAHI INDUSTRY with a 0.55% ownership, leading to a revised total of shares deducted for the "Majority of Minority" condition calculation. The new calculation uses 7,340,772 shares for deduction, resulting in 25,225,439 shares (43.65% ownership) as the half of the remaining 50,450,877 shares, which the minimum purchase target of 35,841,900 shares (62.02%) must exceed. The execution of Squeeze-out Procedures is now scheduled from mid-February 2026 to early April 2026.