#MajorShareholderChange

As of April 23, 2026, the voting rights holding ratio of Oasis Management Company Limited decreased from 10.45% to 1.53%, resulting in a change of major shareholders.

As of May 1, 2026, Youzan Co., Ltd. became a major shareholder and the largest shareholder of the Company through a company split, holding 26.82% of voting rights and is expected to be a stable long-term shareholder.

As of April 27, 2026, Mr. Kazuaki Miyamoto, Representative Director and Vice President, reduced his shares from 3,252,600 to 3,017,600, resulting in a voting rights ratio change from 10.45% to 9.69%.

As of April 16, 2026, Capital Research and Management Company’s voting rights ownership ratio decreased from 10.48% to 9.03%.

As of March 31, 2026, the voting rights ratio of The Master Trust Bank of Japan, Ltd. (Trust Account), a major shareholder, decreased from 10.81% to 7.54%, and GOLDMAN SACHS INTERNATIONAL's voting rights ratio also decreased from 10.60% to 5.62%.

As of March 31, 2026, the number of voting rights held by major shareholder Shinichi Kawabata increased from 1,850,000 shares to 1,941,500 shares, raising his voting rights ratio from 9.97% to 10.46%.

As of March 31, 2026, the number of voting rights held by Meiji Yasuda Life Insurance Company decreased from 3,960,200 shares to 3,636,800 shares, resulting in a voting rights ratio decline from 10.40% to 9.55%. However, the company continues to hold the position of largest shareholder.

Strategic Capital Co., Ltd.'s voting rights ownership ratio increased from 9.40% to 10.65% as of March 30, 2026, with the number of shares held rising from 2,600,000 shares to 2,944,600 shares.

As of March 31, 2026, Iris Ohyama Inc. holds 10.14% of the voting rights (5,261,300 shares) of our company, becoming the largest major shareholder.

Itochu Urban Development Corporation will transfer 1,200 shares (20.00%) of Itochu REIT Management Corporation it holds to Itochu Corporation as of April 1, 2026, resulting in a change in the major shareholder.

As of April 16, 2026, Sumitomo Mitsui Financial Group, Inc. is expected to acquire 9,550,000 shares (10.00% voting rights) through a third-party allotment, becoming a major and the largest major shareholder.

As of March 18, 2026, Oasis Management Company Limited increased its voting rights ratio from 9.93% to 12.52%, becoming a major shareholder and the principal major shareholder.