Bain Capital Private Equity and ASATSU-DK announce successful tender offer
Partnership for a new age of advertising
DECEMBER 7, 2017, TOKYO, JAPAN – Bain Capital Private Equity and ASATSU-DK are pleased toannounce that Bain Capital has successfully acquired an 87.05% stake in ASATSU-DK(ADK, 9747:TSE) through a tender offer. As announced on October 2, 2017, Bain Capital launched thetender offer to acquire the common shares of ADK with a view to privatizing the business and delisting
it from the Tokyo Stock Exchange (TSE).
ADK is the third largest advertising agency in Japan by market share, with an impressive client baseacross multiple sectors. Building on the Company’s successful track record in its traditional advertisingbusiness, ADK has developed a highly competitive offer in its unique content business, including market
leading animation capabilities.
Bain Capital Private Equity and ADK will actively invest in core areas of future business expansion,
including digital, data and the content business, which will enable the company to adapt to the evolving
advertising market both in Japan and overseas. In order to provide its clients with leading solutions,
ADK will adopt an open network model that will allow it to affiliate with the most appropriate partners ineach business area.
Yuji Sugimoto, a Managing Director at Bain Capital Private Equity, said: “Today’s successful tender
offer marks an important step in the right direction for ADK as we move closer to privatizing the businessin order to better secure its future in a fast-changing market. This is also a very positive outcome for
ADK’s shareholders, who have been able to realize attractive value through our fully priced offer. We
look forward to working closely with ADK’s management over the coming months to accelerate its
transformation efforts while we continue to work towards the end goal of privatizing the business so it
can realize its full potential more quickly.”
Shinichi Ueno, President and Group CEO at ASATSU-DK, said: “To continue delivering leading data
driven marketing solutions for our clients and to truly become a consumer activation company, we havelong believed that ADK needed the financial and strategic flexibility that can only be achieved throughbecoming a private business. Today’s successful tender offer close is an important milestone in ADK’s
growth story and we are confident that Bain Capital is the right partner to take us through this next
phase of transformation. We are grateful for the support of our shareholders over the years, and now
look forward to starting work on transforming the business alongside Bain Capital.”
At the expiration of the tender offer period on December 6, 2017, a total of 36,233,119 ADK shareswere tendered, corresponding to 87.05% of the total shares outstanding, surpassing the 20,785,200(50.1%) minimum required. Under the terms of the tender offer, ADK shareholders who have tendered
their shares will receive 3,660 JPY per share on or after December 13, 2017, which is when settlement
is expected to occur.
Bain Capital Private Equity has a large presence in Japan with deep market knowledge and extensive
local networks, and has supported the domestic and global expansion of businesses that offer services
to corporate clients, including Macromill and BELLSYSTEM24. The firm’s expertise in driving
operational improvement strategies have made Bain Capital Private Equity a valued partner forJapanese companies.

About Bain Capital Private Equity
Bain Capital Private Equity (https://www.baincapitalprivateequity.com/) has partnered closely withmanagement teams to provide the strategic resources that build great companies and help them thrive
since its founding in 1984. Bain Capital Private Equity’s global team of approximately 220 investment
professionals creates value for its portfolio companies through its global platform and depth of expertisein key vertical industries including healthcare, consumer/retail, financial and business services,industrials, and technology, media and telecommunications. Bain Capital has offices in Boston, Chicago,New York, Palo Alto, San Francisco, Dublin, London, Munich, Melbourne, Mumbai, Hong Kong,Shanghai, Sydney and Tokyo and has made investments in more than 300 companies to date. Inaddition to private equity, Bain Capital invests across asset classes including credit, public equity andventure capital, managing approximately USD 75 billion in total and leveraging the firm’s sharedplatform to capture opportunities in strategic areas of focus.
About ASATSU-DK（ADK）

ASATSU-DK (https://www.adk.jp/en/) is the third largest advertising agency in Japan by market share.
The Company has expertise in designing and implementing “consumer-activating” marketing plans forclients in both Japan and abroad with its international business network. Founded in 1956 by Masao
Inagaki, ASATSU INC. grew quickly through its focus on magazine advertisements. After merging withDai-ichi Kikaku Co., Ltd. in 1999, the Company became ADK, as it is known today. Building on theCompany’s successful track record in its traditional advertising business, ADK has a unique contentbusiness, which includes market leading TV animation capabilities, as well as TV production andcharacter based marketing. ADK is currently building its expertise in its distribution business abroad.

For Media Enquiries
Bain Capital Private Equity
Annabel Arthur, Brunswick Group (Hong Kong)
Direct: +852 3512 5075
Mobile: +852 6110 6575
Email: aarthur@brunswickgroup.com
Ambre Tanty-Lamothe, Brunswick Group (London)
Direct: +44 (0) 20 7936 7404
Mobile: +44 (0) 7469 083510
Email: atanty@brunswickgroup.com
ASATSU-DK
Kaori Nakajima, Office of Corporate Communications, ASATSU-DK (Tokyo)
Direct: +81 3 6830 3855
Email: adkpr@adk.jp