#BusinessAlliance

Correction in the number of issued shares, revised from 44,875,500 shares to 48,755,500 shares. Number of potential shares remains unchanged at 6,434,900 shares. Correction related to the capital and business alliance announced on 2026-02-25.

Acquired 2,050,000 shares of Intellex HD (voting rights ratio 20.57%) for 2,076,650,000 yen and became an equity method affiliate. Payment and share transfer scheduled for March 17, 2026.

Nagoya Railroad Co., Ltd. is the largest shareholder of TOSEI Corporation with a voting rights ownership ratio of 15.47%, and they concluded a capital and business alliance agreement on May 24, 2024, promoting joint business activities.

Mizuho Leasing Company, Limited will acquire a 25.00% equity interest (24.90% voting rights) in Star Asia Group LLC for 30 billion yen, planning to make it an equity-method affiliate.

Mizuho Leasing Group has invested a 25.00% equity stake (24.90% voting rights ownership) in Star Asia Group LLC, concluding a capital and business alliance agreement. Additionally, a three-year sponsor support agreement has been signed with ML Estate Co., Ltd.

SI Co., Ltd., a wholly owned subsidiary of ITOCHU Corporation, will conduct a tender offer for up to 6,656,900 shares (approximately 12.07%) of Sun Frontier Fudosan at 2,800 yen per share, concurrently implementing a third-party allotment of approximately 5.5 billion yen scheduled for payment on April 1, 2026.

Sun Frontier Fudosan will conduct a third-party allotment of 5,500,000 shares (approximately 11.28%) to Itochu Corporation, raising approximately 13.4 billion yen. Through a tender offer, a maximum shareholding of 22.41% is targeted. The payment date is April 1, 2026.

Konan Shoji Co., Ltd. submitted an amended tender offer notification to the Kanto Local Finance Bureau on February 25, 2026, to reflect receipt of notification from the Japan Fair Trade Commission regarding the commencement of a tender offer for Arenza Holdings Corporation.

Approximately 2.1 billion yen third-party allotment of 389,200 treasury shares to Soulbrain Holdings, simultaneously acquiring Soulbrain shares also for about 2.1 billion yen, establishing a capital and business alliance. Disposal scheduled for 2026-03-12.

Konan Shoji Co., Ltd. commenced a tender offer for Alenza Holdings, Inc. shares on February 13, 2026, setting the purchase price at up to ¥1,465 (a premium of approximately 29.07%) and concluded a capital and business alliance agreement. The lower limit of the number of shares to be purchased is set at two-thirds of the voting rights.

Valor Holdings Co., Ltd. has signed a basic agreement on capital and business alliance with Konan Shoji Co., Ltd. and resolved agreements related to Konan Shoji’s tender offer for Allenza Holdings. The impact on the fiscal year ending March 2026 is minimal.

Ristory Systems Co., Ltd. has acquired 270,000 common shares of Amiya Co., Ltd. (total acquisition price 810,810,000 yen) and concluded a capital and business alliance agreement on 2026-02-12.