Disposal of Preferred Shares of The Minami-Nippon Bank, Ltd.

Press Release

Date: September 28, 2022

Based on the Act on Special Measures for Strengthening Financial Functions, The Minami-Nippon Bank, Ltd. recently requested to the Resolution and Collection Corporation (the RCC hereafter) to dispose the bank’s preferred shares held by the RCC. The DICJ received the RCC’s application on disposing the shares for approval.
Today, the DICJ approved the RCC’s application based on the approvals of the Commissioner of the Financial Services Agency and the Minister of Finance on the matter.
This disposal of preferred shares, which is outlined as below, will result in full repayment of public funds injected into The Minami-Nippon Bank, Ltd.

Outline of related preferred shares
Name of share	Class A Preferred Shares
Total amount issued	\15,000,000,000
Number of shares issued	3,000,000 shares (Note 1)
Value Per Stock	\5,000 (Note 2)
Amount currently held	\15,000,000,000
Number of shares currently held	3,000,000 shares

(Note 1) Number of shares after reverse stock split in October 2017
(Note 2) Value Per Stock after reverse stock split in October 2017

Outline of the disposal
Name of share	Class A Preferred Shares
Disposed Book Value	\15,000,000,000
Number of shares of disposal	3,000,000 shares
Value Per Stock	\5,000 plus Past Class A Preferred Dividends
Total disposal amount	\15,090,999,000
Expected date of disposal	September 30, 2022