Daemyung Sonoseason Co.,Ltd agree to acquire Sono Industries from Sono International Co., Ltd on December 26, 2022. Under the terms of transaction, Merger ratio will be Daemyung Sonoseason Co., Ltd.: Sono Industries Co., Ltd. = 1: 0.7833748. Daemyung Sonoseason will be surviving entity and Sono Industries will be discontinued entity. Daemyung Sonoseason Co., Ltd. merged with Sono Industries Co., Ltd. Transaction was approved by the Board and the shareholders in meeting of Daemyung Sonoseason held on December 26, 2022. Transaction was expected to closed by February 28, 2023.

Daemyung Sonoseason Co.,Ltd completed the acquisition of Sonoin Industry Co., Ltd. from Sono International Co., Ltd on February 28, 2023.