Business Restructuring and Reorganization Following Certification of a Business Adaptation Plan by the Ministry of Economy, Trade and Industry

「On 1 July 2022, our subsidiary KOSHIDAKA received certification from the Ministry of Economy, Trade and Industry for a business adaptation plan, specifically a growth and development business adaptation plan. Under this program, companies that take on management reforms such as business restructuring and reorganization for the post-COVID era may receive tax relief if they submit a plan, including the relevant investment, to the competent minister and obtain certification. The relief raises the cap on the deduction of net operating loss carryforwards arising during the COVID-19 period from the current 50% to as much as 100% within the investment implementation period, for up to 5 fiscal years.」