December 8, 2021

Menicon Co., Ltd.

President and CEO: Hidenari Tanaka

Securities Code: 7780

TSE, 1st section, NSE, 1st section

Contact:

Motonari Watanabe

Senior Executive Officer,

Corporate Management, CFO

Phone:+81-52-935-1646

Notice of transfer of specified subsidiary (sub-subsidiary)

Menicon Co., Ltd. ("the Company") hereby announces that the meeting of the board of directors held on August 28, 2020 decided to the Company's wholly owned subsidiary, Alpha Corporation, would establish of its Chinese subsidiary (a sub-subsidiary of the Company), ALPHA(WUXI) Co., Ltd. and carry out a total capital increase of 712 million yen for this company as a registered capital. As a result of the capital increase with the payment date of September 30, 2021, the capital amount of ALPHA(WUXI) Co., Ltd was equivalent to 10% or more of the Company's capital. Therefore, ALPHA(WUXI) Co., Ltd has become a specified subsidiary of the Company.

The Company apologizes for the delay in disclosure with this matter.

1. Reason for transfer to specified subsidiary

As a result of the remittance by Alpha Corporation, a wholly owned subsidiary of the Company, the capital amount of ALPHA (WUXI) Co. Ltd. was equivalent to 10% or more of the Company's capital, making ALPHA (WUXI) Co. Ltd. a specified subsidiary of the Company. The purpose of this capital increase is to strengthen the production facilities for orthokeratology lenses.

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2. Overview of the sub-subsidiary (specified subsidiary) to be transferred

(1) Name

ALPHA(WUXI) Co., Ltd.

(2) Address

6# Building, No. 9 Huanpu Road, Xinwu District, Wuxi,

Jiangsu, China

(3)

Name and title of

CEO: Masamichi Kanegae

representative

(4)

Description of business

Manufacture of contact lenses, etc.

(5)

Capital* 1

17,343 thousand CNY* 2（280 million yen）

(before transfer)

(6)

Date of established

November 12, 2020

(7)

Major shareholders and

Alpha Corporation (100%)

investment ratio

(8) Relationship between

Capital ties

Alpha Corporation, a wholly owned subsidiary

the listed company and

of the Company, has a 100% share.

this company

Personal

One officer of the Company concurrently serves

relations

as an officer of Alpha Corporation and this

company.

Business

There is no business relationship to be noted

relationship

with this company.

(9)

Financial Position and

FY2020 (Ended Dec. 31, 2020)

* 1

Net assets

* 3

results of operations

12,196 thousand CNY （193 million yen）

Total assets

* 3

15,745 thousand CNY （250 million yen）

Net Sales

0 thousand CNY（

0 million yen）

Operating profit

-407 thousand CNY* 4（- 6million yen）

Ordinary profit

-417 thousand CNY* 4（- 6million yen）

Current net income

-417 thousand CNY* 4（- 6million yen）

  • 1 Japanese yen is rounded down to the nearest million yen, and Chinese CNY is rounded down to the nearest thousand CNY.
  • 2 The capital before the transfer is converted into CNY at the exchange rate at the time of payment of the investment.
  • 3 The Chinese CNY conversion rate uses the MUFG Bank, Ltd. Exchange Quotations (TTM) on December 30, 2020. (15.88 yen = 1 CNY)
  • 4 The Chinese CNY conversion rate uses the average of the end of each month of the MUFG Bank, Ltd. Exchange Quotations (TTM) from January 2020 to December 2020. (15.42 yen = 1 CNY)

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3. Overview of the subsidiary to be increased

(1)

Name

Alpha Corporation

(2) Address

1-8-16 Izumi, Higashi-ku, Nagoya, Aichi

(3)

Name and title of

Representative Director: Masamichi Kanegae

representative

(4)

Description of business

Manufacture and sale of contact lenses, etc.

(5)

Capital stock

90 million yen

(6)

Date of established

July 22, 1970

(7)

Major shareholders and

Menicon Co., Ltd. (100%)

investment ratio

(8) Relationship between the

Capital ties

The Company has a 100% share.

listed company and

Personal relations

Two officers of the Company

this company

concurrently serve as officers of this

company.

Business

The Company purchases products from

relationship

this company.

4. Outline of the change in share capital and shareholding ratio

Share capital and shareholding ratio before

Called-up share capital：280 million yen

the transfer

（100%）

Share capital and shareholding ratio after

Called-up share capital：560 million yen

the transfer

（100%）

  1. Date of transfer (due date of payment) September 30, 2021
  2. Forecast

The impact of this transfer on the Company's consolidated business results is expected to be minimal.

End

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Disclaimer

Menicon Co. Ltd. published this content on 08 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 December 2021 01:21:00 UTC.