Establishment of an organizational framework for new business areas

「Through the full ownership of 水ing Co., Ltd., we will combine 水ing Group's water-treatment engineering capabilities and operating and maintenance structure with our Group's project-management capabilities, civil engineering and construction technologies, and know-how for optimizing and improving the efficiency of businesses, enabling integrated service delivery in the design, construction, maintenance and operation of water and wastewater infrastructure.」

「The Company will be able to provide a full range of services in the construction field, including tunnels, bridges, river improvement, land development, water and sewerage facilities, and roads, and further overseas business expansion is also expected.」

「From the current interim consolidated accounting period, newly invested NOT A HOTEL SETOUCHI(同) has been included in the scope of application of the equity method.」「From the current interim consolidated accounting period, newly established 上ノ国風力開発(株), ふじサンエネルギー(同) and とやまアリーナコンセッション(株) have been included in the scope of consolidation.」「From the current interim consolidated accounting period, newly established (株)ジャパンナショナルスタジアム・エンターテイメント and 豊橋ネクストパーク(株) have been included in the scope of application of the equity method.」

「In addition to its extensive development track record and O&M expertise, as of December 2023 the Company had a pipeline of wind power generation projects under development with total generation capacity of approximately 3,600MW, including replacements for operating projects and part of the pipeline, giving it high growth potential.」

「From the first quarter of the current consolidated fiscal year, (株)ＳＥＫＩ and (有)関栄興業, whose shares were newly acquired, have been included in the scope of consolidation.」「From the first quarter of the current consolidated fiscal year, 三浦下水道コンセッション(株), previously treated as a non-consolidated subsidiary, has been included in the scope of consolidation because its materiality to the group had increased.」「From the first quarter of the current consolidated fiscal year, BVN THANH CHUONG JOINT STOCK COMPANY, whose shares were newly acquired, has been included in the scope of application of the equity method.」

「The Company included MAEDA AMERICA Inc., インフロニアデジタルソリューション(株) and 日本バイオフューエル(株), established as new companies, 日本セグメント工業(株), acquired through the purchase of shares, and みおつくし工業用水コンセッション(株), previously an unconsolidated subsidiary whose significance had increased, within the scope of consolidation.」

「The newly established 日本バイオフューエル(株) has been included in the scope of consolidation from the third quarter consolidated accounting period.」

「Because the Group sold its interests in anonymous partnerships, the relevant entities were excluded from the scope of consolidation from the first quarter consolidated accounting period. Because its significance to the Group had increased, みおつくし工業用水コンセッション株式会社, previously treated as an unconsolidated subsidiary, was included in the scope of consolidation from the first quarter consolidated accounting period.」

「Building an operating structure for new business areas: improving competitiveness in the infrastructure operations market by bringing together the technological capabilities, infrastructure operations track records and expertise, financial capabilities, and regional network strengths of Group companies」