Establishment of Meihou Engineering and absorption-type demerger of the contracting division

「The related proposals were subsequently approved at extraordinary general meetings of shareholders of both the splitting company and the successor company held on 26 January 2023, and the absorption-type company split became effective on 1 February 2023. “As a result, all shares of 株式会社明豊エンジニアリング acquired by 株式会社明豊プロパティーズ were transferred to the company, making 株式会社明豊エンジニアリング a 100%-owned subsidiary of the company.”」

「The company resolved to establish a new subsidiary, 株式会社明豊エンジニアリング, to separate and transfer the construction contracting division of its subsidiary 株式会社明豊プロパティーズ, and to carry out an absorption-type company split in which 株式会社明豊プロパティーズ would be the splitting company and 株式会社明豊エンジニアリング the successor company. The effectiveness of the company split is subject to approval of the related proposals at extraordinary general meetings of shareholders of both companies scheduled for late January 2023. “Scheduled date of the absorption-type company split (effective date): 1 February 2023 (scheduled).” In connection with the company split, the successor company will issue 15 common shares, all of which will be allotted and delivered to the splitting company.」