December 26, 2023
To AllCompany name:

Oisix ra daichi Inc.

Representative:

President and Representative Director, Kohey Takashima(Code: 3182 TSE Prime)

Inquiries:

General Manager of Administration Division, Shigeru Kumano

Telephone Number:+81 3 6867-1149 (Representative)(Update of Previous Disclosure) Notice of Exclusion of SHiDAX CORPORATION from Equity Method Affiliates and Plan
to Make It A Subsidiary and Recording of Extraordinary Income

At the Board of Directors' meeting held on November 10, 2023, Oisix ra daichi Inc. ("the Company") resolved toenter into an agreement ("the Agreement") with SHIDA Holdings Corporation ("SHIDA HD") to tender all of its
common shares ("SHiDAX shares") in SHiDAX CORPORATION ("SHiDAX"), an equity-method affiliate of the Company,
in a tender offer ("Tender Offer") to be conducted by SHIDA HD as part of a transaction that constitutes amanagement buyout (MBO) (Note1). We disclosed the details of the Agreement in the “Notice Concerning theConclusion of a Tendering Agreement for the Tender Offer for Shares of SHiDAX CORPORATION (Securities Code:4837) and the Prospect of Making SHiDAX a Consolidated Subsidiary through the Acceptance of a Third-Party
Allotment of New Shares” disclosed on November 10, 2023.
The Tender Offer expires on December 25, 2023, and the Tender Offer is consummated. The Company hereby
announces that SHiDAX is excluded from our equity method affiliate and as part of the Tender Offer and a series ofsubsequent transactions to take SHiDAX private (“the Transactions”), the Company plans to underwrite the shares ofcommon stock of SHIDA HD to be issued by SHIDA HD through a third-party allotment, and as a result, SHiDAX will
become a subsidiary of the Company the Company will record an extraordinary income in the fiscal year ending
March 31, 2024 from the sale of all SHiDAX shares owned by the Company.

(Note) "Management Buyout (MBO)" generally refers to a transaction in which the management of the target
company invests all or a portion of the acquisition proceeds to acquire the shares of the target company subject tothe continuation of the acquired company's business.

Notation1

I. Changes in Equity-Method Affiliates and Subsidiary
As a result of the completion of the Tender Offer, SHiDAX is excluded from our equity method affiliates.
As part of the Transactions, the Company plans to underwrite the shares of common stock of SHIDA HD to beissued by SHIDA HD through a third-party allotment, and as a result, SHiDAX will become a subsidiary of theCompany and as for accounting treatment, it will be treated as an increase in our SHiDAX ownership ratio from28.44% to 66.0%.
For more information, please refer to our release, “Notice Concerning the Conclusion of a Tendering Agreement
for the Tender Offer for Shares of SHiDAX CORPORATION (Securities Code: 4837) and the Prospect of Making
SHiDAX a Consolidated Subsidiary through the Acceptance of a Third-Party Allotment of New Shares” disclosed onNovember 10, 2023.

II. Record of Extraordinary Income
1. Purpose of the Sale of Shares
The Company has determined that management integration with SHiDAX through the Transactions will enableboth companies to make flexible decisions and develop their businesses, and they expect to maximize theircorporate value in the medium to long term as well and have decided to enter into the Agreement as a part of theTranasctions.

2. Details of the Sale of Shares(1)

The Sale of Shares

All of its common shares of SHiDAX(2)

No. of Shares

15,582,759 shares(3)

Purchase Price of the Tender Offer\800 per common share(4)Time of Gain on Sales of Shares ofJanuary 2024

Subsidiaries and Affiliates(5)

Gain on Sales of Shares of¥4.0 billion

Subsidiaries and Affiliates

3. Outlook
As a result of the completion of the Tender Offer and we sell all of SHiDAX shares, we expect to record 4.0 bn
yen of the gain on sales of shares of subsidiaries and affiliates as extraordinary income in the non-consolidated
financial results and marginal gain on step acquisitions as extraordinary income in consolidated financial results(we are now under scrutiny, so the amount has not yet been determined) in the fiscal year ending Mar. 2024. (Theestimated amount as of November 10, 2023 is 3.4 bn yen, but will be disclosed as soon as it is confirmed.)
The consolidated earnings forecast for the fiscal year ending March 31, 2024 will be announced as soon as theoutlook becomes clear.
(End)2