News Release

As announced in the "Notice Regarding Commencement of Tender Offer for Shares of TATSUTA Electric Wire and Cable Co., Ltd. (Securities Code: 5809) by JX Nippon Mining & Metals Corporation, a Wholly-owned Subsidiary of ENEOS Holdings, Inc." dated December 21, 2022 (the "Tender Offeror Press Release dated December 21, 2022"), at the respective board of directors meetings of ENEOS Holdings, Inc. and its wholly-owned subsidiary JX Metals Corporation (the "Tender Offeror" and changed the trade name from JX Nippon Mining & Metals Corporation on June 28, 2023) held on the same date, it was resolved that the Tender Offeror will obtain the common shares of TATSUTA Electric Wire and Cable Co., Ltd. (Code Number: 5809, Prime Market of the Tokyo Stock Exchange, Inc. the "Target Company") through a tender offer under the Financial Instruments and Exchange Act (Act No. 25 of 1948, as amended) (the "Tender Offer").

　

As stated in the Tender Offeror Press Release dated December 21, 2022, the Tender Offeror aims to commence the Tender Offer by June 2023. However, as it is difficult to accurately predict the period required for procedures required under competition laws both in and outside Japan, the Tender Offeror has decided to announce the details of the schedule of the Tender Offer as soon as they are determined. Also, it was announced that the competition laws of China are scheduled to be reformed, which would increase the threshold for necessity of notification, and therefore, if the reform comes into effect, the notification required under Chinese competition laws for the Tender Offer will not be necessary, and the scheduled period for commencement of the Tender Offer may be changed depending on the status of progress of the procedures required under Japanese competition laws at the time thereof.

　

The Tender Offeror has undertaken the procedures required under competition laws both in and outside Japan, as well as related measures, in order to implement the Tender Offer. However, as of today, while the procedures required under Japanese competition law and related measures are complete, those required under Chinese competition law and related measures are not yet complete. The Tender Offeror expects to complete the latter and commence the Tender Offer in August 2023 at the earliest, and will continue its efforts toward completing the procedures as soon as possible.

　

The Tender Offeror provided the relevant notification required under Chinese competition laws on January 17, 2023. However, if reforms are enforced that result in an increase in the threshold for the necessity of notification pursuant to Chinese competition laws (among others), and the relevant notifications are no longer required under Chinese competition laws, the Tender Offeror will apply to withdraw the notification.

　

The details of the schedule for the Tender Offer will be announced as soon as they are determined, and if the Tender Offer has not commenced as of the end of September 2023, the progress will be announced again.