November 28, 2019
Mitani Corporation
CEO: Akira Mitani
Contact: Katsunori Yamamoto
Managing Director（+81-776-20-3116）

Acquisition of share in MJIU
Mitani Corporation (“Mitani”) has announced that East Asia Capital Corporation, a wholly owned subsidiary ofMitani, has acquired a 70% stake in MJI Universal Pte. Ltd. (“MJIU”) as of November 28, 2019. Since its capitalamounts to more than 10/100th of Mitani's capital, MJIU falls under the specified subsidiary of Mitani.
1. Background of Acquisition
From a global perspective, Mitani has put greater importance on developing new businesses both domestically andglobally as well as existing businesses.
MJIU is incorporated and headquartered in Singapore. MJIU imports ingredients of animal feed for livestock mainly
from worldwide major meat processing companies and exports to Asian countries such as Indonesia and China. Since
the food sector is expected to grow stably especially in Asia, Mitani has decided to acquire shares of MJIU.
2. Outline of Subsidiary subject to Change（1） Company Name

MJI Universal Pte. Ltd.

（2） Location

133 Cecil Street, #11-01A/B Keck Seng Tower Singapore 069535（3） Name and Title ofDirector： Hooi Siew Yan

Representative（4） Business Activities

Distributing of Ingredients of Animal Feed

（5） Capital (Unit:’000USD)

5,981（6） Establishment

October 24, 2007

（7） Shareholders

Hooi Siew Yan 77％, Wong Hee Foon 23％（8） Relationship between
Mitani and MJIU

There is no capital, personal, or business relationship.

（9） Results of operations and financial position of MJIU in the most recent three-year period (Unit:’000USD)
Fiscal year-end

31-Dec-2016

31-Dec-2017

31-Dec-2018

Equity9,872

11,02912,621

Total assets

44,20651,47846,771Equity per share

USD1.23

USD1.37

USD1.57

Revenue

174,009

208,514

196,557

Operating income

1,101

2,635

3,940

Net Profit

988

2,156

3,292

Net profit per share

USD0.12

USD0.26

USD0.41

Dividends per share

USD0.12

USD0.21－3. Outline of the Sellers（1） Sellers’ Name

Hooi Siew Yan, Wong Hee Foon

（2） Location

Butterworth Singapore（3） Relationship between
Mitani and the Sellers

There is no capital, personal, or business relationship.

4. Outline of Subsidiary Acquiring Shares（1） Company Name

East Asia Capital Corporation（2） Location

Ota-ku, Tokyo, Japan（3） Name and Title of

Director: Masaru Kinoshita

Representative（4） Business Activities

Holding of Securities（5） Capital

JPY1,000,000（6） Establishment

October 1, 2018

（7） Fiscal Year-end

March 31

（8） Shareholders

Mitani Corporation 100％

5. Number of Transferred Shares and Status of Shareholding Ratios before and after Transfer（1） Number of shares held0 shares（Indirect holding 0.00％）

before change（2） Number of shares

5,600,000 shares（Indirect holding 70.00％）

transferred※ The Purchase Price will not be disclosed because of the confidentiality obligation due to an agreement with theSellers. In the course of negotiations with the Sellers, an appropriate due diligence has been implemented and areasonable price has been calculated.
6. Schedule（1） Date of Execution of theJuly 22, 2019

Agreement（2） Effective

dateoftheNovember 28, 2019

Share Transfer
7. Future Outlook
The impact on Mitani's earnings forecast due to the change of the subsidiary is still under review. If there are anymatters that should be announced in the future, Mitani will promptly disclose them.
Notice: this document is an English translation of a statement written initially in Japanese. The Japanese original
should be considered as the primary version.