#TSI

Our group has no direct business bases or important business partners in the Middle East region, and no direct impact has been confirmed at this time; however, we are monitoring the situation closely as there is a possibility of indirect impact due to worsening conditions or surging resource prices in the future.

The Company resolved to dispose of 630,000 shares of common stock (0.99% of the total issued shares) by third-party allotment at 1 yen per share in conjunction with the establishment of the General Incorporated Foundation TSI Fashion Future Foundation. The disposal date is undecided and is subject to the approval of the General Meeting of Shareholders on May 22, 2026.

On April 10, 2026, TSI Holdings Co., Ltd. signed a basic agreement to acquire 6,840 shares (87.7%) of Toyo Enterprise Co., Ltd. and 600 shares (100%) of Leilani Trading Co., Ltd., making them subsidiaries.

For the fiscal year ending February 2026, operating revenue was 4.506 billion yen, a 63.3% increase year-over-year, while net income attributable to owners of parent was 1.335 billion yen, a 90.3% decrease year-over-year.

For the fiscal year ending February 2026, consolidated net sales were JPY 167.085 billion (6.7% YoY increase), operating income was JPY 4.325 billion (164.4% YoY increase), and net income attributable to owners of parent was JPY 3.793 billion (75.1% YoY decrease).

A correction was made to the notice on voluntary recall of sold products disclosed on April 3, 2026, due to the inclusion of products not handled by the company.

Issuance of 116,380 new investment units at an issue price of 117,682 yen per unit, totaling approximately 13.7 billion yen. Secondary offering of 5,820 units via overallotment and a third-party allotment are also planned.

Joshin Denki Co., Ltd. plans to appoint Norihiro Itano as a new outside director candidate at the 78th Annual General Meeting of Shareholders in late June 2026. Keiko Yamahira and Seiji Nishikawa are scheduled to retire.

The issue price for the new investment units is 77,891 yen per unit, the offering price is 80,535 yen per unit, and the total payment amount for the public offering is approximately 12.93 billion yen. The secondary offering via overallotment involves 8,301 units for a total of approximately 668.52 million yen. The subscription period starts from March 13, 2026.

Tensions in the Middle East have escalated following military actions by the U.S. and Israel from February 28, 2026, but there is no significant disruption to local operations and no confirmed casualties.

Japan Hotel REIT Investment Corporation plans to issue up to 848,991 new investment units, raising approximately 69.583 billion yen. The payment date is set from March 9 to March 11, 2026.

Mr. Hiroki Sakurai was appointed as Director and Deputy Head of Corporate Division as of March 1, 2026, and an executive change from the current Directors was resolved.