#USSubsidiary

Acquisition of all shares of the U.S. women's innerwear company Glamorise Foundations, Inc. for approximately JPY 5.2 billion. Scheduled acquisition date: April 1, 2026.

U.S. consolidated subsidiary Avex Song Fund 1 LLC plans to enter into a senior secured credit facility agreement for up to USD 50 million. The borrowing ratio will be limited to 60% or less of the music catalog value.

Mitsui & Co., Ltd. has decided to dissolve and liquidate its U.S. subsidiary MBWA Investment LLC. The investment amount is 77.8 million USD, and the impact on the fiscal year ending March 2026 performance is minimal.