Launch of the Angel Care Business in Shanghai

「In China, the company operates Angel Care Services through a subsidiary established in Shanghai.」

「The Angel Care service business performed well both in Japan and overseas, including Shanghai, as funeral practices changed, demand for services such as bathing remained strong, and the company worked to further improve service quality, resulting in an increase in the number of services provided.」

「In overseas operations, order volumes for the Angel Care business of 上海福原護理服務有限公司 in Shanghai, China, have been gradually recovering since the lockdown was lifted.」

「In our overseas business, Shanghai Fuyuan Nursing Services Co., Ltd. resumed operations in June following the lifting of the lockdown in Shanghai, China, which had been in place since March 2022.」

「In our overseas business, Shanghai Fuyuan Nursing Services Co., Ltd. resumed operations in June 2022 following the lifting of the lockdown in Shanghai, China, which had been in place since March.」

「In our overseas business, the number of services performed by Shanghai Fuyuan Nursing Services Co., Ltd.'s end-of-life care business had been steadily increasing as awareness of its services grew. However, Shanghai went into lockdown in March because of the renewed spread of COVID-19, and the impact will need to be monitored closely.」

「In our overseas business, the number of services performed by Shanghai Fuyuan Nursing Services Co., Ltd.'s end-of-life care business has been steadily increasing as awareness of its end-of-life care services has grown.」

「At its Chinese subsidiary 上海福原護理服務有限公司, the company has demonstrated steady business growth, including a substantial increase in the number of services provided, as awareness of its local Angel Care Services has grown.」

「In our overseas business, some services in Shanghai Fuyuan Nursing Services Co., Ltd.'s end-of-life care business were suspended at the beginning of the period, but all sites subsequently resumed full operations, resulting in revenue doubling year on year.」

「During the first quarter of the current consolidated fiscal year, some end-of-life care services were suspended at the beginning of the period, but all sites subsequently resumed full operations, and the business continued to expand.」

「However, in the fourth quarter, the spread of COVID-19 forced the business to stagnate locally because of strict requests to refrain from going out and temporary business suspension measures.」

「In our overseas business, Shanghai Fuyuan Nursing Services Co., Ltd. provides care services and end-of-life care services. We believe that demand for home care and end-of-life care services will certainly exist and that the market will expand in China, where economic growth and population aging are progressing. The steady increase in orders for end-of-life care services in China during the nine-month period ended the third quarter of the current consolidated fiscal year also indicates that the market will expand.」

「In our overseas business, Shanghai Fuyuan Nursing Services Co., Ltd. provides care services and end-of-life care services. We believe that demand for home care and end-of-life care services will certainly exist and that the market will expand in China, where economic growth and population aging are progressing. The increase in orders for end-of-life care services in China during the six-month period ended the second quarter of the current consolidated fiscal year also indicates that the market will expand.」

「上海福原 is steadily building a track record at the 3 sites where it currently provides services, while moving swiftly to introduce its services at other state-run funeral homes and expand its market share.」

「In its existing overseas business, the company began providing Angel Care Services inside funeral homes through its wholly owned subsidiary established in Shanghai, 上海福原護理服務有限公司 (hereinafter, "上海福原"). Services began at Shanghai Minhang District Funeral Home in May 2017 and at Shanghai Fengxian District Funeral Home in September 2017.」

「In our existing overseas business, Shanghai Fuyuan Nursing Services Co., Ltd. (hereinafter, Shanghai Fuyuan), a wholly owned subsidiary established in Shanghai, began providing end-of-life care services inside Shanghai Minhang District Funeral Home in May 2017 and Shanghai Fengxian District Funeral Home in September 2017. Shanghai has 15 state-owned funeral homes, but currently only 1 end-of-life care operator is permitted at each funeral home. Shanghai Fuyuan is steadily building a track record at 3 sites and seeking to introduce its services at other state-owned funeral homes quickly and expand its market share.」

「In our existing overseas business, Shanghai Fuyuan Nursing Services Co., Ltd., a wholly owned subsidiary established in Shanghai, provides end-of-life care services. In May 2017, it began providing end-of-life care services inside Shanghai Minhang District Funeral Home, its second site in Shanghai. Shanghai has 15 state-owned funeral homes, but currently only 1 end-of-life care operator is permitted at each funeral home. We will steadily build a track record at 3 sites, including Shanghai Fengxian District Funeral Home, where services are scheduled to begin in September 2017, and seek to introduce our services at other state-owned funeral homes quickly and expand our market share.」

「In addition, in November 2016, we began operating a post-mortem care business at Shanghai Songjiang District Funeral Home, one of the state-run funeral homes in Shanghai.」

「In November 2016, the company also began operating its Angel Care business at Shanghai Songjiang District Funeral Home, one of the state-run funeral homes in Shanghai. The company will build on the high level of quality cultivated over many years in Japan, establish a solid track record, and seek contracts with additional state-run funeral homes.」

「In September 2016, we entered into an agreement with Shanghai Songjiang District Funeral Home, one of the state-owned funeral homes in Shanghai, and are preparing to launch our end-of-life care business there in November 2016.」