On January 18, 2021, ARA Asset Management Limited announced that it has submitted a notification with the purpose of make proposals to keep private Kenedix, Inc. Specifically, ARA Asset Management will consolidate the Company's common stock and the effect of the reverse stock split. Requests the Company to hold an extraordinary general meeting of shareholders, which includes amendments to the articles of incorporation to abolish the provision of the number of shares constituting one unit on condition of occurrence. ARA Asset Management and co-owners will support each of the above proposals at this extraordinary general meeting of shareholders.