Notice of Dissolution of Consolidated Subsidiary

We hereby announce that we have decided to dissolve and liquidate our consolidated subsidiary, Hong Kong Semba Co., Ltd., as of December 31, 2022.

Since its establishment in August 1984, the company has developed its business mainly in the planning, design, supervision, and construction of interiors for commercial facilities in Hong Kong. However, due to rapid changes in the business environment, the company has remained unprofitable for the past several years and is not expected to improve in the future. Therefore, we have decided to dissolve and liquidate the company for the purpose of selection and concentration of management resources of our group. The impact of the decision to dissolve and liquidate the subsidiary on the consolidated financial results is negligible.

Under the slogan of our medium-term management plan 2024 “Make a New Wave!”, we will continue to make concerted group-wide efforts to explore new roles in society and to expand and develop our business.