Tranche Update on Shinozakiya, Inc.'s Equity Buyback Plan announced on January 29, 2016.

SHINOZAKIYA, INC. is a Japan-based company engaged in the food manufacturing and sales business, such as the manufacture and sale of soybean-processed products, and the provision of sales guidance. The retail business is engaged in the retail of soybean-processed products, such as bean curd and soymilk, through the operation of directly-managed stores. The other business is engaged in the wholesale of bean curd, soymilk and others to its directly-managed stores and other clients, as well as the provision of sales guidance for franchised outlets.