Acquisition | NIHON CHOUZAI CO LTD | 23rd September 2025

On 31 July 2025, AP86 LTD announced a tender offer to purchase all shares of NIHON CHOUZAI CO LTD with cash terms of JPY 3,927 per share. The tender offer expired on 16 September 2025 with acceptances crossing 90%. As the free float has dropped below 15%, Solactive will remove NIHON CHOUZAI CO LTD from the index effective on 23 September 2025.

The treatment below will be applied to the following indices:

• NIHON CHOUZAI CO LTD will be removed from the Index.
• The weight of NIHON CHOUZAI CO LTD (3341.T) based on its last close price will be distributed pro rata to remaining Index constituents.
• Effective Date (open): 23/09/2025

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