COMMISSION FOR THE PROTECTION OF COMPETITION

The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 (4) of the Control of Concentrations between Enterprises Law of 2014, concerning the acquisition of Pioneer Corporation’s share capital by Baring Private Equity Asia Group, via the Wolfcrest Ltd.

Baring is an international private equity firm duly which offers advice on investments made in multinational cross-border transactions and supports investments of linked investment funds from international offices in Hong Kong and other major financial centers.

Pioneer Corporation is a company duly registered under the laws of Japan and listed on the Tokyo Stock Exchange. Pioneer manufactures electronics products for consumer and commercial purposes.

Wolfcrest Ltd is a company duly registered under the laws of Ireland and is a special purpose vehicle that is established for the purpose of this transaction. It is controlled by an investment fund that is part of the Baring Private Equity Asia Group.