Expansion of Japanese-Style Nursing Care and Home-Visit Bathing Franchises by a Beijing Joint Venture

「During the second quarter of the current consolidated fiscal period, the company acquired shares in 株式会社ひだまり and included the company in the scope of consolidation. 北京福原順欣養老管理有限公司 was excluded from the scope of consolidation because it was liquidated.」

「During the second quarter of the current consolidated fiscal period, the company acquired shares in 株式会社ひだまり and included the company in the scope of consolidation. 北京福原順欣養老管理有限公司 was excluded from the scope of consolidation because it was liquidated.」

「In its overseas business, the company resolved at a Board of Directors meeting held on 19 October 2018 to dissolve and liquidate 北京福原順欣養老管理有限公司. Going forward, the group will consolidate its China business functions in 上海福原護理服務有限公司, a specified subsidiary established in Shanghai, China, in August 2015 and wholly owned by the company.」

「In its overseas business, the company resolved at a Board of Directors meeting held on 19 October 2018 to dissolve and liquidate 北京福原順欣養老管理有限公司 (hereinafter, “北京福原”). Going forward, the group will consolidate its China business functions in 上海福原護理服務有限公司 (hereinafter, “上海福原”), a specified subsidiary established in Shanghai, China, in August 2015 and wholly owned by the company. 上海福原 will continue to handle the nursing care and related businesses in Beijing and neighboring areas previously handled by 北京福原.」

「At a board meeting held on 19 October 2018, the company resolved to dissolve and liquidate its consolidated subsidiary 北京福原順欣養老管理有限公司. Going forward, the group will consolidate its China business functions in 上海福原護理服務有限公司, a specified subsidiary wholly owned by the company that was established in Shanghai, China, in August 2015.」

「In its overseas business, the company terminated its joint venture relationship with 北京精益順欣管理咨詢有限公司, the local joint venture partner in 北京福原順欣養老管理有限公司 (hereinafter, “北京福原”), the Chinese joint venture, effective 30 June 2018. Following the necessary approvals and other procedures in China, the group plans to acquire all of the equity interest held by 北京精益順欣管理咨詢有限公司 (hereinafter, “北京精益”) and operate 北京福原 as a wholly owned overseas subsidiary. The group’s view that the expansion of Japanese-style nursing care services in China remains promising is unchanged. Accordingly, it will rebuild its strategy to conduct future business activities swiftly and effectively, centered on Shanghai and Beijing, where it has overseas subsidiaries.」

「In August 2017, the company established 北京福原順欣養老管理有限公司, its specified subsidiary in Beijing, China, as a joint venture with a Chinese company. As with 上海福原, the company will promote its nursing care and angel care businesses in Beijing to spread Japanese-style nursing care.」

「In August 2017, the company established 北京福原順欣養老管理有限公司, its specified subsidiary in Beijing, China, as a joint venture with a local company. As with 上海福原, which already provides services in Shanghai, the company will promote its nursing care and angel care businesses in Beijing to spread Japanese-style nursing care.」

「In August 2017, the company established 北京福原順欣養老管理有限公司, its specified subsidiary in Beijing, China, as a joint venture with a local company. As with 上海福原, which already provides services in Shanghai, the company will promote its nursing care and angel care businesses in Beijing to spread Japanese-style nursing care.」

「Based on a resolution of the Board of Directors meeting held on 17 March 2017, the company has completed the procedures for establishing the joint venture described below. Once the capital contribution is completed, the joint venture’s capital will be equivalent to at least 10% of the company’s capital, and it will qualify as a specified subsidiary of the company. 1. Purpose of establishing the joint venture Based on its track record in nursing care accumulated in Japan, an advanced nursing care market, the company established a company in Shanghai, China, in August 2015 and has been operating there to promote the spread of Japanese-style nursing care in rapidly growing Asia. To accelerate business development across a broad area centered on Beijing, the company has now established 北京福原順欣養老管理有限公司 through a joint investment with 北京精益順欣管理咨詢有限公司 and will commence nursing care operations as the headquarters for a home-bathing franchise. 2. Overview of the joint venture (1) Name: 北京福原順欣養老管理有限公司 (2) Location: Beijing, People’s Republic of China (4) Business: Nursing care and related businesses in the People’s Republic of China (Beijing) (5) Capital: RMB 10,000,000 (6) Date established: 8 August 2017 (7) Investment ratio: Company 60%; 北京精益順欣管理咨詢有限公司 40%」

「To accelerate business development across a broad area centered on Beijing, we have established 北京福原順欣養老管理有限公司 through a joint investment with 北京精益順欣養老管理有限公司 and will commence nursing care operations as the headquarters for a home-bathing franchise.」