#Subsidiarization

Noritsu Koki Co., Ltd. will acquire 488,200 shares (100% voting rights) of Senkushia Co., Ltd. for 69 billion yen, and plans to make it a subsidiary on February 2, 2026.

Noritsu Koki acquires shares of Senkushia Co., Ltd., making it a subsidiary. The acquisition price is 69 billion yen; sales are 35.4 billion yen; adjusted EBITDA is 9.2 billion yen; enterprise value is estimated at approximately 80 billion yen.

Bodlore Co., Ltd. acquired all 800 shares of Rixol Co., Ltd. on January 14, 2026, with an acquisition price of 800 million yen, including advisory fees of 3.2 million yen, completing the subsidiarization at a total cost of 803.2 million yen.