Notification Regarding Absorption-Type Merger with Wholly Owned Subsidiary (Simplified and Short-Form Merger)

Overview of the Merger

This merger will be executed as a simplified and short-form absorption-type merger in which the Company will be the surviving company and its wholly owned subsidiary, Imari Steel Center, will be absorbed. The purpose is to expand the newbuilding ship business and enhance competitiveness by integrating steel material dewatering, storage, and processing to accelerate decision-making and optimally allocate management resources. The board resolution was passed on 2026-09-30, the agreement was executed on 2026-10-01, and the effective date is scheduled for 2027-04-01.

Impact and Future Outlook

After the merger, there will be no changes to the Company's name, location, representative, business activities, or fiscal year, and the impact on consolidated results is expected to be minor. No share allocation or treatment of stock acquisition rights will occur in connection with the merger. Any new disclosure matters will be promptly announced.