Notice of Acquisition of Shares of MNES Inc. (Making it an Equity-method Affiliate)

MTI Ltd. (the “Company”) announces that the Board of Directors passed a resolution at a meeting on September 6, 2019, that the Company would underwrite the third-party allotment of shares of MNES Inc. (“MNES”) as described below. The Company’s shares of MNES will be 22.76% after this allotment and MNES will become an equity-method affiliate of the Company.

MNES is building and improving a new medical service infrastructure in the healthcare industry and is operating businesses such as remote diagnostic imaging and diagnostic imaging system development. The Company decided to underwrite the third-party allotment of shares of MNES based on the prospect that the partnership between the Company and MNES would allow MNES to increase sales of its services to medical examination organizations across Japan and an alliance with the Company’s healthcare business would support MNES in creating high value-added ICT services.
The Company will work to build ICT platforms in the medical and healthcare industries by enhancing collaboration with MNES while implementing activities in the healthcare business.

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