Tranche Update on Hiraki Co.,Ltd.'s Equity Buyback Plan announced on November 7, 2014.

HIRAKI CO., LTD. is a Japan-based company mainly engaged in the mail order business and general stores business, focusing on shoes, footwear, clothes and other sundry products. The Company operates in three business segments. The Mail Order segment is engaged in the sale of shoes, footwear, clothes and other sundry products developed by the Company through the catalog and Internet. The Discount Stores segment is primarily engaged in the sale of shoes, groceries, clothes, and other daily goods through its discount stores. The Wholesale segment is engaged in the wholesale of shoes and footwear, focusing on original equipment manufacturer (OEM) products, to major retailers and mass merchandise outlets.