 LIM Advisors Limited LIM Advisors, which represents investment funds that collectively own shares of NichiiGakkan Co., Ltd. NichiiGakkan or the Company TSE:9792, notes the increase in the tender offer price for all the common stock of NichiiGakkan by K.K. BCJ-44 the Tender Offeror to 1,670 per share, which was announced on Friday 31 July 2020. While an improvement in offer terms, LIM Advisors believes the revised tender offer price continues to be substantially below fair value of approximately 2,400 per share. Therefore, LIM Advisors will not be tendering its shares into the revised offer. 