Announcement Regarding Planned Commencement of Tender Offer for Shinko Electric Industries Co., Ltd.

JIC Capital, Ltd. (head office: Minato-ku, Tokyo; President andRepresentative Director: Shogo Ikeuchi; “JICC”), which is a wholly-ownedsubsidiary of Japan Investment Corporation (head office: Minato-ku, Tokyo;President and Representative Director: Keisuke Yokoo), hereby announcesthat it decided today to acquire the share certificates, etc. of Shinko Electric Industries Co., Ltd. (head office: Nagano City, Nagano; Representative Directorof Board, President: Susumu Kurashima; “Shinko Electric”) through atender offer (the “Tender Offer”) under the Financial Instruments and ExchangeAct through JICC-04, Ltd., a wholly-owned subsidiaryof JICC (the “Offeror”). As of today, the Offeror aims to commence theTender Offer in late August 2024, but since it is difficult to accuratelyestimate the amount of time required for the procedures involving foreigncompetition authorities and authorities having jurisdiction over investmentcontrol laws and regulations, the detailed schedule for the Tender Offer willbe promptly announced as soon as it is decided.

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Summary of the Tender Offer

Purpose of Tender Offer

With the spread of5G, the increasing use of AI and IoT, and the progression of digitaltransformation (DX), etc., society and the economy are becoming digitized, and consequently,the applications for semiconductors are expected to keep growing, furtherincreasing the demand over the medium to long term, as well as the need foreven higher functionality and performance. On the other hand, globalcompetition is expected to intensify, requiring that development and productionsystems that can adapt rapidly and flexibly to such needs be set up.

Against thisbackground, in order to enableShinkoElectric to promote initiatives that contribute tothe enhancement of corporate value from a medium-to-long-term perspectivewithout being affected by short-term business performance, JICC will seek tomake Shinko Electric a private entity through the Tender Offer and an acquisitionof shares from Fujitsu (the “Transaction”). As such, JICC believes that it willbe able to strongly support the commercialization of the field of advancedsemiconductor packaging, such as chiplet technology and photonic-electronicintegration technology, based on the diverse semiconductor packaging technologiesthat ShinkoElectric has cultivated to date.

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Structure of the Tender Offer

For the Tender Offer, funds operated and managed by JICC(the “JICC Funds”, including the fund in which Hachijuni Sustainability No. 1Fund (general partner: Hachijuni Investment Co., Ltd. (head office: Nagano-shi,Nagano; President and Representative Director: Takehiko Maeda)) willinvest) will, together with Dai Nippon Printing Co., Ltd. (headoffice: Shinjuku-ku, Tokyo; President and Representative Director: YoshinariKitajima; “DNP”), andMitsui Chemicals, Inc. (head office: Chuo-ku, Tokyo; President andRepresentative Director: Osamu Hashimoto; “Mitsui Chemicals”), make investmentin the Offeror and carries out the Transaction. With respect to the votingrights ratio of the Offeror, JICC Funds will own 80%, DNP will own 15% andMitsui Chemicals will own 5%.

* The structure diagram after completion of theTransaction.

For the details of the Transaction including the TenderOffer, please see the attached “AnnouncementRegarding Planned Commencement of Tender Offer for Shinko Electric IndustriesCo., Ltd. (Securities Code: 6967).”

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Disclaimer

The financial advisors to JICC, the JICC Funds, DNP, Mitsui Chemicals, theOfferor, and Shinko Electric as well as the tender offer agent (including theiraffiliates) may, within their ordinary course of business, engage during theTender Offer Period in the purchase of, or an arrangement to purchase, theshares in Shinko Electric for their own account or for their customers’accounts outside the Tender Offer in accordance with Rule 14e-5(b) of the U.S.Securities Exchange Act of 1934, to the extent permitted under Japanesesecurities regulations and other applicable laws and regulations. Such purchases,etc. may be made at the market price through market transactions or at a pricedetermined by negotiation outside the market. In the event that informationregarding such purchases, etc. is disclosed in Japan, such information willalso be disclosed in a similar manner in the U.S.