Notice on designation of the Company as a Supervisory Stock (Under Review)

Designation as Supervisory Stock (Under Review) and subsequent actions

As of today, Tokyo Stock Exchange publicly announced the expectation to designate the company as Supervisory Stock (Under Review). The reason is that it may not be possible to confirm conformity with the listing maintenance criteria at the end of the remediation period. From September 1, 2026 until the decision date for delisting criteria. Going forward, a distribution of share certificates, etc. distribution status table will be submitted in early September 2026, and the examination results will be disclosed. If conformity is confirmed, designation will be解除; if not, it may be designated as a restructuring stock and delisted on March 1, 2027.

Shareholder composition and liquidity outlook

We have confirmed the transfer of shares by major shareholder First Pacific Capital Limited. Based on the shareholder registry and change report as of February 28, 2026, it is estimated that the freely tradable share ratio will be compliant as of the end of August 2026. Currently, the freely tradable share ratio is approaching the compliance standard, but the final determination depends on the Tokyo Stock Exchange's review.