Acquisition of Shares (Subsidiarization) of Thai Wellness Company Thann Oryza Co., Ltd. ~ Accelerating Value Creation in the Well-being Domain through Collaboration with an Asia-Origin Holistic Brand ~

Overview of the M&A

Rohto Pharmaceutical Co., Ltd. resolved at the Board of Directors meeting on January 7, 2026, to acquire shares of Thai wellness company Thann Oryza Co., Ltd., headquartered in Bangkok, Thailand, thereby making it a subsidiary. The number of shares to be acquired is 790,600 shares, equivalent to 51% of the voting rights, and the share transfer execution date is scheduled for March 31, 2026. Thann operates natural skincare and lifestyle brands and conducts business in 14 countries mainly across Asia, holding strong recognition in the premium spa and wellness sectors.

Future Outlook and Impact

Through this share acquisition, Rohto Pharmaceutical intends to leverage Thann's brand assets and customer base to pursue growth opportunities in the global market. Goodwill is expected to arise from the acquisition; however, the impact on consolidated earnings is anticipated to be minor. The acquisition price remains undisclosed due to confidentiality obligations. Thann's recent financial results for the fiscal year ending December 2024 show sales of 382.9 million THB, with operating loss and net loss, and performance improvement is expected going forward.