Responses to Inquiries from Shareholders and Investors (September 2026)

IR Policy and Disclosure Content

In accordance with our disclosure policy dated July 29, 2026, section "3. Response to Inquiries from Shareholders and Investors," we disclose the main questions and answers from after the previous disclosure through the end of September 2026 on a monthly basis around month-end. The dates of responses may vary depending on confirmation status.

M&A Policy and Organizational Framework

Under the new management framework "TRIiS2.0," we do not aim to increase the number or scale of acquisitions indiscriminately. We evaluate each target company based on its business, financials, legal matters, and future earnings prospects, and determine the post-acquisition management and PMI arrangements on a case-by-case basis. After acquisition, we will continue appropriate management through overall group oversight and necessary staff deployments.

Background of Consideration and Due Diligence for the LIMNO Acquisition

The proposal to acquire LIMNO was brought forward through multiple intermediaries. While due diligence is normally conducted after signing a basic agreement, for the LIMNO matter, other companies' DD results had already preceded, so we have been conducting additional due diligence carefully and continuously.

Valuation of LIMNO and Acquisition Price

LIMNO's net assets for the fiscal year ended September 2025 are approximately 1.4 billion yen and the company is profitable, but the share acquisition price of 600 million yen was not determined solely by net asset amount or the size of borrowings; it reflects a comprehensive assessment including post-acquisition management efforts. Individual amounts of outstanding borrowings are not being disclosed at this time; timely disclosures will be made in accordance with laws and regulations as necessary.