[Translation]
December 15, 2020
Kakuyasu Group Co.,Ltd.
Representative Director and President

Junichi Sato（Ticker Code：7686 Tokyo Stock Exchange Second Section）
Inquiry toDirectorYoshiyuki Maegaichi

Stock Acquisition of Meiwa Bussan Co.,Ltd.
This is to announce that the Company resolved to acquire entire common stocks of Meiwa BussanCo., Ltd. (headquartered in Chuo-ku, Tokyo; hereinafter "Meiwa Bussan") at the Board of Directors
meeting convened today, making them a subsidiary company. Details are described as follows.

１． Purpose of the stock acquisition

The Company and its consolidated subsidiaries are determined and prepared to meet any
customers’ requests under the brand name “Anything Liquor Store Kakuyasu”, aiming to beconsidered the most convenient liquor store by local customers. The primary focus of its
management policy is to build distribution infrastructure principally for liquor. One of theCompany’s medium-term growth strategies is to evolve into a “delivery platform company” thatprovides enhanced last-mile delivery services by utilizing its existing distribution infrastructure,establishing distribution centers closer to end-users, and expanding the range of goods delivered
other than liquor.
Meiwa Bussan is one of the distributors of Meiji Co., Ltd. and primarily delivers dairy products ofMeiji. The company’s trade areas are certain parts of Tokyo and surrounding prefectures, such as
Josai and Jonan areas in Tokyo, suburban Tokyo, Chiba, and Kanagawa. It offers a subscriptionbased delivery of products that promote physical and mental health from nine bases. The products
include milk and dairy products that are beneficial for health, a variety of other foods such as
salads and other cooked or prepared foods that make meals enjoyable, and sundries and clothingthat enrich one’s life. The company’s motto is “Deliver happiness and health.” The delivery
business has a wide range of sales channels and is highly recognized in Tokyo and surrounding
prefectures.
The Company’s decision to acquire Meiwa Bussan’s common stocks and make it a subsidiaryreflects its intention to expand the domestic business and take a step toward evolving into adelivery platform company. As home consumption expands amid the COVID-19 pandemic, theacquisition will allow both companies to refer customers to each other and create synergies.
Moreover, they can enhance distribution efficiency and deliver a wider range of items beyond
alcoholic and non-liquor merchandise, such as food and daily essentials. The Group aims to expandand strengthen its revenue base and enhance its corporate value.

２． Overview of the Acquiree(1)Company Name

Meiwa Bussan Co.,Ltd.

(2)

Headquarters

3-13-5, Nihonbashi, Chuo-ku, Tokyo(3)

Representative

Akiyuki Aizu (Mr.)(4)

BusinessHome delivery and sales of dairy products(5)

Paid-in Capital

JPY 80 million(6)

Establishment

November 12, 1983

(7)

Shareowner

Meiwa Holdings Co.,Ltd.

100%(8)Relationship between the Company
and the acquiree

Capital Relationship

Not applicable.

Personal Relationship

Not applicable.

Business Relationship

Not applicable.

(9)

Consolidated Financial Positions and Results of the Company in the latest three years
Fiscal Year Ending

December 31, 2017

December 31, 2018

December 31,2019

Net Assets

JPY 138,854 thousand

JPY 148,563 thousand

JPY 149,130 thousand

Total Assets

JPY 237,250 thousand

JPY 250,544 thousand

JPY 249,484 thousand

BVPS

JPY 54,559.54

JPY 58,374.84

JPY 58,597.35

Sales

JPY 237,461 thousand

JPY 899,387 thousand

JPY 928,747 thousand

Operating Profit

JPY 7,613 thousand

JPY 15,867 thousand

JPY 21,777 thousand

Recurring Profit

JPY 7,624 thousand

JPY 16,516 thousand

JPY 22,670 thousand

Net Profit

JPY 4,982 thousand

JPY 9,502 thousand

JPY 764 thousand

JPY 1,957.95

JPY 3,733.92

JPY 300.37

EPS(Notes)
1.

Results for FY2017 (fiscal year ended December 31, 2017) are those only for the three months fromOctober to December due to a change in the fiscal year. The previous fiscal year was from October
1, 2016 to September 30, 2017. From FY2018, the fiscal year is from January 1 to December 31.

2.

During the fiscal year ended December 31, 2019, the company recorded an impairment loss of18,760 thousand yen on land as an extraordinary loss.

3.

On December 1, 2020, a share transfer was implemented, and as a result, the company became awholly owned subsidiary of Meiwa Holdings Co., Ltd. The share transfer has not affected thecompany’s assets, liabilities, or sales.

３． Overview of the Seller(1)Company Name

Meiwa Holdings Co.,Ltd.

(2)

Headquarters

3-24-6, Ueno, Taito-ku, Tokyo(3)

Representative

Ichiro Fujita (Mr.)(4)

BusinessHolding company’s functions(5)

Paid-in Capital

JPY 80 million(6)

Establishment

December 1, 2020

(7)

ShareownerJAPAN Creative Platform Group Co., Ltd. 100%(8)

Relationship between theCompany and the Seller

Capital Relationship

Not applicable.

Personal Relationship

Not applicable.

Business Relationship

Not applicable.

Status of Related parties

Not applicable.

Meiwa Holdings Co., Ltd. is a company established on December 1, 2020 and thus its net assets
and total assets are undetermined.

※※

Overview of the parent company of the seller(1)Company NameJAPAN Creative Platform Group Co., Ltd.

(2)

Headquarters

3-24-6, Ueno, Taito-ku, Tokyo(3)

Representative

Ichiro Fujita (Mr.)(4)

Business

Control of group companies with related operations(5)

Paid-in Capital

JPY 400 million(6)

Establishment

January 5, 2015

(7)

Net Assets, as of September 30, 2020

JPY 12,331 million(8)

Total Assets, as of September 30, 2020

JPY 57.800 million(9)

Major Shareowners and its ownership,
as of June 30, 2020

TKO Co.,Ltd.

43.12%

Employees Stock Ownership
Association of JAPAN Creative
Platform Group

16.51%

Wellco Holdings Co.,LTd.

2.85%

Capital Relationship

N.A.

Personal Relationship

N.A.

Business Relationship

N.A.

Status of Related parties

N.A.

(10)

Relationship between the Company
and the acquiree４． Acquiring shares, acquisition price, and post-acquisition ownership(1)

Acquiring shares

2,545 shares(2)

Corresponding voting rights

2,545

(3)

Post-acquisition ownership

100.0%(4)

Acquisition price

JPY 198 million

５． Schedule

Board Resolution

December 15, 2020

Signing Date

December 15, 2020

Closing Date (scheduled)February 1, 2021

６． Future Outlook

The Company assumes tat the transaction won’t affect the consolidated financial results to asignificant degree and announce some impact of the transaction if any revisions arise. The
Company also assumes that the transaction leverages the strengths of both companies andcontributes to improving our business performance over the medium to long term.