February 7, 2023

For Immediate Release
Ryosan Company, Limited
Representative: Kazuhiko Inaba
Representative Director, President
Listing Code No.: 8140
Listing: Prime Market, Tokyo Stock Exchange
Inquiries: Norihiko Takahashi
Executive Officer
General Manager, Corporate Planning
Headquarters
TEL: +81-3-3862-3816

Notice Concerning Acquisition of Ryosan Company Stock by Ryoyo Electro and Related
Changes to Main Shareholders and Main and Largest Shareholder (Planned)
Ryosan Company, Limited (“the Company”) hereby announces that the Company has received a notification of theacquisition of company stock from Ryoyo Electro Corporation (“Ryoyo Electro”) which will affect the main shareholders
and main and largest shareholder of the Company as follows.
1. Details of Changes
The Company received a notification from Ryoyo Electro today regarding the acquisition of company stock pursuant to
the execution of a stock transfer contract with our main shareholder, Silchester International Investors LLP. As a result ofthe execution of this contract, changes are expected in the Company’s main shareholders and main and largest shareholder.
The Company and Ryoyo Electro have been engaged in discussions pursuing business synergy for some time, andwill intensify the consideration and discussion further concerning the form for a broad alliance between the two parties.
By utilizing the superior products and solutions, customer relations, and other management resources accumulated byeach company in their long histories within a new framework, both will be able to not only sustainably increase corporate
value but also contribute to achieving a new ideal as an electronics trading company which will contribute to resolving
problems and concerns of customers and the market as a whole.
2. Planned Date for Implementation of Changes
February 9, 2023
3. Overview of Shareholders to be Transferred(1) Overview of shareholder who will no longer be main shareholder(1) NameSilchester International Investors LLP(2) Address

5F Time & Life Building
1 Bruton Street
London, W1J 6TL, United Kingdom(3) Representative name and title

Timothy Linehan, Partner(4) Content of business

Investment advisory business-1-(2) Overview of shareholder to become the new main and largest shareholder(1) Name

Ryoyo Electro Corporation(2) Address

1-12-22 Tsukiji, Chuo-ku, Tokyo, Japan(3) Representative name and titleMoritaka Nakamura, Representative Director, President(4) Content of business

1) Sales of semiconductors/devices
2) Sales of ICT products3) Sales of embedded devices
4) Various engineering support
5) Various services(5) Capital

13,672 million yen (as of October 31, 2022)(6) Date of founding

February 27, 1961

(7) Major shareholders and their

The Master Trust Bank of Japan, Ltd. (trust account)

11.78%

holdings ratios

SHC Corporation

10.49%(as of July 31, 2022)

Mitsubishi Electric Corporation

7.81%

Sheep Shokai Co.

2.59%

Nippon Life Insurance Company (standing proxy: The2.03%

Master Trust Bank of Japan, Ltd.)(8)

Relationships

betweentheCompany and Ryoyo Electro

Ryoyo Electro Employee Stockholder Association

1.53%

SMBC Nikko Securities Inc.

1.08%

Yoshihisa Shimada

1.05%

Yoichiro Ohashi

1.02%

Custody Bank of Japan, Ltd. (trust account)

1.01%

No notable capital, personal, or business relationships. Also applies torelated parties.

(9) Financial conditions and business performance of Ryoyo Electro for the three most recent accounting
periods (consolidated)Accounting period

FY ended Jan.

FY ended Jan.

FY ended Jan.

2020

2021

2022

Net assets (million yen)

62,13537,99242,309Total assets (million yen)

78,11759,33672,652

Net assets per share (yen)2,524.47

2,188.90

2,130.46

Net sales (million yen)

108,538

95,792

112,099

Operating profit (million yen)

2,154

1,266

2,258

Ordinary profit (million yen)

2,187

905

2,400

1,303

806

1,873

Net income per share (yen)

53.06

35.19

103.94

Dividends per share (yen)

80

180

120

Profit attributable to owners of parent(million yen)

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4. Number of Votes Held by the Shareholders, Shares Owned, and Ratio of Voting Rights Before and After Changes(1) Silchester International Investors LLP
Major
Number of votes (shares owned) (ratio of voting rights)

ranking

Attribution
Direct holdings

Applicabletotaling

43,847 votes
Before changes

Main shareholder

After changes―

shareholder(4,384,700shares)

Total
43,847 votes―(4,384,700shares)(18.71%)(18.71%)0 votes

0 votes(0 shares)

―

(―%)

(0 shares)

――

(―%)

(2) Ryoyo Electro Corporation
Major
Number of votes (shares owned) (ratio of voting rights)

rankingAttribution
Direct holdings
Before changes(as of September 30,2022)

After changes

Applicabletotaling

0 votes―shareholder(0 shares)

Total
0 votes―(0 shares)

(―%)

(―%)

43,847 votes

43,847 votes

Main and largest(4,384,700

shareholdershares)―(18.71%)(4,384,700shares)―#1(18.71%)

Notes: 1. Ratio of voting rights is calculated based on 234,322 votes pertaining to 23,432,200 shares, which is equal to thetotal number of shares issued as of September 30, 2022 (25,000,000 shares) less 1,567,800 shares without votingrights as of the same date.
2. Ratio of voting rights values are rounded up to the second decimal place.
3. Although the major shareholder ranking before changes is based on the listings in the Company’s shareholders
ledger as of September 30, 2022, since no corresponding entry could be found for Silchester International
Investors LLP, the corresponding major shareholder ranking before changes is not listed.
4. The major shareholder ranking after changes is listed as an estimation based on the current information in theCompany’s shareholder ledger as of September 30, 2022.
5. Future Outlook
Although this matter is expected to have a minimal impact on business results for the consolidated fiscal year 2022, theCompany believes it will contribute to increasing its corporate value in the medium- to long-term. Any notable related
matters in the future will be disclosed promptly.

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