iSigma Business Advancement Fund 4 managed by iSigma Capital Corporation made an offer to acquire Japan Foods Co., Ltd. (TSE:2599) from ITOCHU Corporation (TSE:8001), ITOCHU Food Sales and Marketing Co., Ltd. and others at ¥1,994 per share on April 10, 2024. The Offeror has set the minimum number of shares to be purchased in the Tender Offer at 1,459,800 shares representing 30.27% stake to conduct Squeeze-out procedures. The Offeror plans to obtain the necessary funds for the settlement of the Tender Offer by one business day prior to the commencement date of settlement of the Tender Offer through investment from iSigma Business Advancement Fund 4 and borrowing a maximum of ¥12,570,000,000 from Aozora Bank, Ltd. The board of Japan Foods approved the offer unanimously on May 10, 2024. The tender offer period is from May 13, 2024 to June 21, 2024.

O-Hara Law Office acted as legal advisor to Japan Foods.