Accelerating the development of new businesses

「Under these circumstances, our group has worked to expand the scale of its operations, centered on trade transactions related to the waste plastics and waste metal recycling businesses.」

「In particular, revenue related to the metal recycling business centered on 株式会社北山商事, which became a subsidiary in the previous fiscal year, and 龍一商事株式会社, which became a subsidiary during the current fiscal year, has increased substantially. Going forward, we will work to improve the profitability of this business.」

「Against this backdrop, with respect to the full-year consolidated earnings forecast, transaction volumes for non-ferrous metal scrap expanded substantially, particularly as a result of the business expansion of consolidated subsidiary 株式会社北山商事, including the opening of its Kanto branch in May 2025. In addition, we began incorporating the earnings of 龍一商事株式会社, which also became a consolidated subsidiary during the current fiscal year, into the consolidated results. This enabled substantial expansion in the metal business segment, and the results exceeded the previously announced forecast.」

「In particular, revenue related to the metal recycling business centered on 株式会社北山商事, which became a subsidiary in the previous fiscal year, has increased substantially. Going forward, we will work to strengthen the group's overall management foundation by improving the profitability of this business.」

「At a meeting of the Board of Directors held on 18 April 2024, we resolved to carry out a share delivery under which we would be the parent company in the share delivery and 株式会社北山商事 would be the subsidiary. We carried out the share delivery on 15 May 2024 and made 株式会社北山商事 a subsidiary.」

「Under these circumstances, our group has worked to expand the scale of its operations, centered on trade transactions related to the waste plastics and waste metal recycling businesses.」

「Our group has worked to expand the scale of its operations, centered on trade transactions related to the waste plastics and waste metal recycling businesses.」

「In addition, we newly commenced trading in iron scrap with a major Japanese steel trading company.」

「Under these circumstances, amid the impact of rising global resource prices, our group worked to expand the scale of its operations, centered on trade transactions related to the waste plastics and waste metal recycling businesses.」

「Amid rising global resource prices, we worked on key measures, including developing high-quality products that meet customer and social needs and streamlining our production structure. While seeking to improve our earnings and financial profiles through higher profit margins and other measures, we worked to expand the scale of our operations, centered on trade transactions involving waste metal that began during the previous consolidated fiscal year.」

「Amid rising global resource prices, our group worked to expand the scale of its operations, centered on trade transactions involving waste metal that began during the previous fiscal year.」

「Amid rising global resource prices, our group worked to expand the scale of the business, centered on trading in scrap metal, which we commenced during the previous consolidated fiscal year.」

「Amid rising global resource prices, we worked to expand the scale of the business, centered on trading in scrap metal, which we commenced during the previous consolidated fiscal year.」

「To expand the product areas handled and strengthen net sales and earnings power, we commenced exporting scrap-metal-related products from the third quarter of the current consolidated fiscal year, and our Chinese subsidiary also commenced large-scale domestic trading of petroleum products in China from the first quarter of the current consolidated fiscal year.」

「In addition, we continue to seek to expand the merchandise we handle and decided to commence handling scrap metal products as of 31 August 2021.」

「In addition, 株式会社豊都新材料, in which our consolidated subsidiary 株式会社大都商会 holds a 51% interest, was established on 22 March 2021, and we decided to include both companies in the scope of consolidation.」

「As a core measure, with 30 December 2020 as the effective date of the share exchange, we made 株式会社大都商会 a wholly owned subsidiary through a simplified share exchange. By making 大都商会 a wholly owned subsidiary, we will accelerate the trading business that is expected to become our core business and make every effort to expand the business.」

「As announced in the timely disclosure titled "Notice Regarding the Making of 株式会社大都商会 a Wholly Owned Subsidiary through a Simplified Share Exchange" dated 8 December 2020, we decided to make 株式会社大都商会 a wholly owned subsidiary through a simplified share exchange, which could be carried out without an outflow of funds, in order to expand into new business areas and secure an earnings base by creating synergies with our existing businesses, while preserving our cash on hand.」

「We also commenced the import and export of products related to COVID-19 to expand the product areas handled and strengthen net sales and earnings power.」

「We also commenced the import and export of products related to COVID-19 to expand the product areas handled and strengthen net sales and earnings power.」

「From the first quarter, we newly began import and export operations involving recycled plastic products to expand the range of products we handle and strengthen sales and earnings capabilities.」

「We have also continued to explore other new businesses. As disclosed in the "Notice Regarding the Launch of a New Business" dated 19 August 2019, as an agent for IngDan Japan, we will encourage Chinese companies to register on the platform established by IngDan Japan and proceed with intermediary and support services relating to transactions with Japanese customer companies.」

「During the cumulative first quarter of the current consolidated fiscal year, we began import and export operations involving recycled plastic products to expand the range of products we handle and strengthen sales and earnings capabilities.」

「In addition to the existing businesses described above, we will actively pursue new business opportunities to build stable sources of revenue and work to improve performance.」

「In addition to the existing businesses described above, we will actively pursue new business opportunities to build stable sources of revenue and work to improve performance. We had already begun import and export transactions involving daily necessities and other products with Chinese companies during the cumulative first quarter of the current consolidated fiscal year as part of our "trading business." During the second quarter of the current consolidated fiscal year, we began importing and selling polyethylene terephthalate (PET) and other products in addition to daily necessities, and our Chinese subsidiary also began its trading business.」

「During the second quarter of the current consolidated fiscal year, we began importing and selling polyethylene terephthalate (PET) and other products in addition to daily necessities, and our Chinese subsidiary also began its trading business.」

「In addition to the existing businesses described above, we will actively pursue new business opportunities to build stable sources of revenue and work to improve performance. During the cumulative first quarter of the current consolidated fiscal year, we had already begun import and export transactions involving daily necessities and other products with Chinese companies.」

「In addition to the existing businesses described above, we will actively pursue new business opportunities and work to improve performance in the next fiscal year. Specifically, we plan to begin import and export operations involving daily necessities and other products with Chinese companies.」

「In addition, we have planned and begun new businesses to secure revenue during the consolidated fiscal year. Specifically: ① To expand into apparel businesses other than men's casualwear at an early stage, we fundamentally reviewed our sales functions and established a new organisational structure. Although still at the demonstration stage, we are importing and selling innerwear. ② Centered on our Chinese subsidiary, we plan to develop businesses in China progressively, based primarily on two business models: planning and selling our own uniform brand, and wholesale distribution of uniforms.」

「In addition, to secure revenue for the current fiscal year, the company planned new businesses and had already begun preparing for them. Specifically, to expand into apparel businesses other than men's casual clothing at an early stage, the company fundamentally reviewed its sales function and established a new organizational structure. It also completed the incorporation procedures for a Chinese subsidiary in May 2017 and will commence business activities going forward to secure revenue for the group.」

「We also reviewed the brand portfolio of our existing brands, formulated and implemented strategies suited to the size of the market, and will continue to actively pursue new business development.」