Zoom : Announcement of Interest Acquisition of Sound-Service Musikanlagen-Vertriebsgesellschaft mbH (Sound Service)

Announcement of Interest Acquisition of Sound-Service Musikanlagen-

Vertriebsgesellschaft mbH (Sound Service)

March 15, 2022

ZOOM CORPORATION

We, ZOOM CORPORATION（Head office: Tokyo, Japan; CEO: Masahiro Iijima) are pleased to announce the signing of a Letter of Intent with Joachim Stock Holding GmbH to make Sound Service a subsidiary company of ZOOM in January 2023.

Sound Service has been appointed the exclusive distributor of ZOOM in Germany, Austria, and Benelux (Central Europe) for around 30 years and more recently extended in Eastern European countries and in the UK.

The growth of Central Europe market has been remarkable and reached 15% of ZOOM's consolidated sales in 2021. This acquisition is expected to be completed by January 2023. We believe that we together can make the ZOOM brand more valuable, develop a more powerful marketing strategy and contribute to expand our ZOOM products' sales network across Europe.

Outline of Sound Service

	Now, as of March 15, 2022	Expected in January 2023
1.Company's name	Sound-Service Musikanlagen-	Unchanged
	Vertriebsgesellschaft mbH
2.Location	Pariser Straße 9, D10719 Berlin,	Unchanged
	Germany
3.CEO	Joachim STOCK	Unchanged
4.Members and	Joachim Stock Holding GmbH	ZOOM CORPORATION 51%
Membership Interest	100%	Joachim Stock Holding GmbH
		49%

The purchase price shall be determined based on the company valuation and appropriate due diligence procedures.

For further information, please visit our website https://www.zoom.co.jp/