Announcement of Merger

Dear All, Audit Corporation

We are pleased to hear of your continued business success.

We would like to inform you that Meiji Ark Audit Corporation and Hijiribashi Audit Corporation have agreed to merge on July 1, 2016.

The merger agreement was executed on April 1, 2016.

I.Corporate Name and Location of the Merged Corporation

Meiji ARK Audit Corporation

Principal Location: 1-23-3 Nishi-Shinjuku, Shinjuku-ku, Tokyo

II. History and Scale of Both Firms

Meiji ARK Audit Corporation

August 17, 1982 (registration of incorporation); The joint audit firm of Horie and Morita Certified Public Accountants (founded in December 1963) and Tsukahara and Kudo Certified Public Accountant Office (founded in February 1967) established Meiji Audit Corporation.

Subsequently, the firm merged on January 4, 2016 with ARK Audit Corporation which was established by the Miura CPA firm (founded on January 1, 1993) on March 3, 2004, and has been in operation to date.

(As of April 1, 2016)

Personnel: 79 (including 59 certified public accountants)

Number of clients: 69 companies including 26 listed companies

Office: Tokyo

Hijiribashi Audit Corporation

Established in Hongo, Bunkyo-ku, Tokyo on April 1, 1975.

The office was relocated to Sotokanda, Chiyoda-ku, Tokyo in December 1987, where it remains to this day.

(As of April 1, 2016)

Personnel: 24 (including 20 certified public accountants)

Number of clients: 17 companies, including 8 listed companies

Office: Tokyo

III. Purpose of Merger

The vision of Meiji ARK Audit Corporation and Hijiribashi Audit Corporation is to become the No. 1 audit firm in terms of client satisfaction by striving to provide thorough client services that large audit firms cannot provide. We are convinced that our clients’ healthy growth is our value, and we have agreed to make it our mission to provide valuable audits that support our clients’ growth.

With the expansion of our scale, we will further improve the quality of our audits and enhance our client services to better meet our clients’ diverse needs, and as a result, we aim to contribute to the development of the Japanese economy.

IV. Post-Merger Organization and Audit Structure

The merged entity will have approximately 86 audited clients and approximately 103 employees.

Preparations have begun for the merged entity to be gathered at the main office to form a common audit structure.

The members of the board of directors after the merger is planned to be as follows;

Atsushi Sasayama (Chairperson) Kiyohisa Horie (Vice Chairperson) Hiroshi Nagata (Vice Chairperson) Akihiko Miura (President) Hirofumi Nikaido (Vice President)

Reiji Yonekura (Executive Director) Junichi Yoshimura (Executive Director) Yasushi Onuki (Director) Keiichiro Tomioka (Director) Takashi Hamada (Director)

We will continue to be an audit firm trusted by our stakeholders.

Thank you very much for your understanding and cooperation.