Notice of Office Closure at Consolidated Subsidiary

We would like to announce that our consolidated subsidiary SEMBA VIETNAM CO.,LTD. (located in Ho Chi Minh City) has decided to close its Hanoi office as of February 28, 2023.

Since its establishment in 2015 as a branch office in Semba, Vietnam, the Hanoi office has been providing interior planning, design, supervision, and construction services mainly to Japanese clients in the northern region of Vietnam. However, due to the improvement of business promotion through remote work, we have decided to close the said office in order to improve efficiency and reduce costs by consolidating offices. From now on, we will promote the business by consolidating the functions at the Ho Chi Minh City head office.

The impact of this matter on the consolidated financial results is negligible.