Sumitomo Corporation (President and CEO: Susumu Kato; Head Office: Chuo-ku, Tokyo) hereby announces that with regard to its press release of April 15, 2010, titled "Notice Regarding Result of Tender Offer for Shares of Jupiter Telecommunications Co., Ltd. by Sumitomo Corporation", it completed the settlement of its tender offer for shares of Jupiter Telecommunications Co., Ltd. (President and CEO: Tomoyuki Moriizumi; Head Office: Chuo-ku, Tokyo; "J:COM") (the "Tender Offer"), and acquired 875,834 shares of J:COM on April 21, 2010.  As of the same date, the total number of shares held by Sumitomo Corporation became 2,777,912 shares, which represents a voting rights ownership ratio of 40.1%*.

 

In addition, upon the completion of the settlement of the Tender Offer, Sumitomo Corporation and KDDI CORPORATION (President and Chairman: Tadashi Onodera; Head Office: Chiyoda-ku, Tokyo; "KDDI"), which became a major shareholder on February 19, 2010, indirectly holding approximately 31.1% of the voting rights of J:COM, held a discussion between both companies' Presidents for the first time, and agreed on a policy that they will hereafter build a relationship of business cooperation in order to enhance the corporate value of J:COM, as of the date hereof.  Although no determination has been made with regard to the specific details of the cooperation as of the date hereof, Sumitomo Corporation, J:COM and KDDI will discuss the above matter among the three companies in the future.

 

*The voting rights ownership ratio of Sumitomo is calculated based on the total number of the issued shares of J:COM as of April 14, 2010.