Establishment of 関東住設産業株式会社 and acquisition of the kitchen and vanity business

「The Company strengthened its housing equipment business by acquiring part of the business of アールビー, a consolidated subsidiary of NORITZ CORPORATION, and commencing operations at 関東住設産業株式会社, which oversees the business.」

「While the Group was forced to operate under certain restrictions resulting from measures to prevent the spread of infection, such as refraining from business trips and outings and expanding work from home, it worked to increase its share of the housing market and shift to a business structure less dependent on the number of new housing starts. In response to a series of natural disasters, it also pursued the diversification of production sites and reforms to its logistics and information systems. To strengthen its housing equipment business, following the resolution in March 2020 to acquire part of the business of アールビー, a consolidated subsidiary of NORITZ CORPORATION, the Company established 関東住設産業株式会社 on 7 April to oversee operations and developed its production and sales systems ahead of the business acquisition on 1 July.」

「At a meeting of the Board of Directors held on 23 March 2020, the Company resolved to establish 関東住設産業株式会社, a wholly owned subsidiary, and acquire part of the business of the Kitchen Life office of アールビー, a consolidated subsidiary of NORITZ CORPORATION. The Company entered into a business transfer agreement on the same date. The business acquisition was scheduled for 1 July 2020.」