Ryosan : Notice Concerning Results of Purchase of Treasury Shares through Off-Auction Own Share Repurchase Trading (ToSTNeT-3)

November 5, 2018

For Immediate Release

Ryosan Company, Limited

Representative: Hiroyuki Kurihara,

Representative Director, President

Listing Code No.: 8140

Listing: First Section, Tokyo Stock Exchange

Inquiries: Norihiko Takahashi

General Manager

Corporate Strategy Office

TEL: [phone]

Notice Concerning Results of Purchase of Treasury Shares through

Off-Auction Own Share Repurchase Trading (ToSTNeT-3)

(Based on Articles of Incorporation in Accordance with Provisions of Article 459-1 of Companies Act)

Ryosan Company, Limited ("the Company") hereby announces that it has concluded the purchase of treasury shares as stated in its notice of November 2, 2018.

• 1. Reason for purchase of treasury shares

  To improve capital efficiency and implement flexible capital strategy.

• 2. Details of purchase

(1) Class of stock to be purchased	:	Common stock
(2) Total number of shares purchased	:	110,000 shares
(3) Purchase price	:	¥387,200,000
(4) Purchase date	:	November 5, 2018
(5) Purchase method	:	Purchase through off-auction own share repurchase trading
(ToSTNeT-3) of the Tokyo Stock Exchange
Reference:

1. Determination of items for the purchase of treasury shares (announced on June 22, 2018)

（１）Class of stock to be purchased:	Common stock
（２）Total number of shares to be purchased:	Up to 2,000,000 shares
Ratio of total number of issued shares as of March 31, 2018
(excluding treasury shares): 8.17%
（３）Total value of shares to be purchased:	Up to ¥8,000,000,000
（４）Purchase period:	June 25, 2018-March 31, 2019

2. Accumulated shares purchased under the determination (as of November 5, 2018)

（１）Total number of shares purchased: 1,055,200 shares

（２）Total value of shares purchased: ¥4,256,503,000