Tranche Update on Morozoff Limited's Equity Buyback Plan announced on October 30, 2019.

Morozoff Limited is a Japan-based company mainly engaged in the manufacture and sale of western confectionery. The Company operates in two business segments. The Western Confectionery Manufacturing and Sales segment is engaged in the manufacture and sale of dry confectioneries, such as chocolates, candy, baked cakes, desserts and sweets samplers, as well as unbaked confectioneries, such as cheese cakes and puddings. The Cafe and Restaurant segment provides cakes, coffees, pastas and other food services. The Company operates direct management stores, licensed stores, cafes and restaurant.