[Translation]
April 6, 2020

Kakuyasu Co.,Ltd.
Representative Director and President

Junichi Sato

（Ticker Code：7686 Tokyo Stock Exchange Second Section）
Inquiry toExecutive Officer and General Manager

Yoshiyuki Maegaichiof Finance and Accounting Dept

Stock Acquisition of Sannoh Co.,Ltd.
This is to announce that the Company resolved to acquire entire common stocks of Sannoh Co.,
Ltd. (headquartered in Fukuoka city, Fukuoka prefecture; hereinafter “Sannoh”) at the Board ofDirectors meeting convened today, making them a subsidiary company. Details are described asfollows.
１． Purpose of the stock acquisition
The Company aims at meeting any customers’ requests and being considered the most convenientliquor store by customers. The policy is reflected in the brand name, “Anything Liquor StoreKakuyasu”, and under the policy the Company develops a distribution infrastructure mainly forliquor.
Currently, the Company distributes liquor and goods to restaurants through 11 distribution
centers for business in the Tokyo metropolitan area and Osaka prefecture. The Company also
operates 173 stores, small warehouses, and other facilities to deliver liquors by shuttle distribution
in small trade areas and sell them at stores.
Sannoh is a company that aims to enhance the richness of life by providing liquor. The company
sells liquor for business purposes and operates “Liquors ABC”, a retail brand of liquor primarily
sold to downtown restaurants, mainly in Fukuoka, Fukuoka prefecture. Sannoh is widely
recognized in Fukuoka.
The Company’s decision to make Sannoh a subsidiary is based on its intention to expand its
domestic business into the Kyushu region. Following the acquisition, the Company will strengthen
its business base and enhance its corporate value.

２． Overview of the Acquiree（１）Company Name

Sannoh Co.,Ltd.

（２）Headquarters

1-4-19 Minoshima, Hakata-ku, Fukuoka city（３）Representative

Shin Ohki, Representative Director（４）Business

Liquor sales for business and retailing liquors（５）Paid-in Capital

JPY 10 million

（６）Establishment

August, 2005（７）Shareowner

Undisclosed at the request of the Seller（８）Relationshipbetween The Company
and the Acquiree

Capital relationship

Not applicable.

Personnel relationship

Not applicable.

Business relationship

Not applicable.

（９）Business results and Financial position of the past three years
Fiscal Year Ending

February 28, 2017

February 28, 2018

February 28, 2019

Net Assets

JPY 146 million

JPY 195 million

JPY 262 million

Total Assets

JPY 308 million

JPY 383 million

JPY 450 million

JPY 1,898 million

JPY 2,047 million

JPY 2,173 million

Operating Profit (Loss)(JPY 5 million)

JPY 26 million

JPY 54 million

Recurring Profit

JPY 52 million

JPY 78 million

JPY 104 million

Net Profit

JPY 35 million

JPY 53 million

JPY 71 million

JPY 25,000

JPY 25,000

JPY25,000

Sales

Dividend per share３． Overview of the Seller
The Seller’s information cannot be disclosed at the request of the Seller.



There was no relationship between the Company and the Seller.

４． Acquiring shares, acquisition price, and post-acquisition ownership(1)

Acquiring shares

200 shares(2)

Corresponding voting rights

200

(3)

Post-acquisition ownership

100.0%(4)

Acquisition price

Undisclosed at the request of the Seller

５． Schedule

Board Resolution

April 6, 2020

Signing Date

April 6, 2020

Closing Date (scheduled)

May 1, 2020

６． Future Outlook

While the Company considers the impact of the transaction on the Company's consolidated
financial statements minor, the Company will disclose it if something is to be disclosed.

Disclaimer: This is an English translation of the disclosure. This translation is prepared and provided
for the reader’s convenience.