To whom it may concern

Tosei Corporation (Head Office: Minato-ku, Tokyo; President & CEO: Seiichiro Yamaguchi; Securities Code: 8923; hereinafter the "Company) announces that it has revitalized a rental apartment in Kawasaki City as the 2nd of its "T's eco" series, a brand in revitalization business.

In the revitalization business, the Tosei Group acquires any existing commercial real estate, including offices, commercial facilities, hotels, logistics facilities, rental apartments, and pre‐owned condo units, and are promoting the "upcycling*" of existing real estate, whereby these properties are renovated in terms of hardware and operational improvements, including lease-up, and then supplied to the market as new products with enhanced added value. Real estate revitalization is a business that also contributes to modern environmental and social issues, as it produces less CO2 emissions during demolition and development than new construction development.
*Upcycling To revitalize existing real estate by adding new value without destroying it.

In the "T's eco" series, we will address value-up through energy conservation retrofits, renewable energy installations, and revitalization that preserve or capitalizes on the surrounding environment. We will then birth to used real estate as new environmentally friendly properties.

"T's eco Kawasaki", the second in the "T's eco" series, is a rental apartment located a 6-minute walk from "Hatchonawate Station" on the Keihin Kyuko Main Line and a 15-minute walk from "Kawasaki Station" on the Keihin Tohoku Line.
As a theme of value-up, we aimed to promote ecology in the whole building, and installed solar panels on the rooftop, LED lighting in common areas, and the latest model air conditioners, LED lighting, and motion sensors in the private areas.
The solar panels on the rooftop generate their own electric power, which is then distributed to the common areas. Any surplus power is stored. In addition, the latest model energy-saving equipment installed in the private areas allows residents to live comfortably while reducing power consumption as much as possible. In this way, management and electricity costs are saved and a smart eco-life is realized, while the entire building promotes contributions to CO2 reduction and global environmental preservation.
The property will be an asset that will reduce CO2 emissions by approximately 35 tons (*1,2,3) compared to the pre-renovation level by common and private areas and creating energy through solar panels.

(*1) CO2 reduction calculation method

(*2) Calculation method of electricity consumption
Exclusive use area: Electricity usage details after the renovation were provided by the resident, Estimated annual electricity consumption
Common areas: Estimated annual electricity consumption based on electricity consumption details of common areas after renovation.

(*3) These calculation are estimates based on the general energy consumption of homes announced by the relevant ministries and agencies, estimates by equipment manufacturers, and actual electricity consumption after renovation work, and may differ from actual reductions.

After purchased the vacant company housing, we proceeded with vigorous leasing activities to "T's eco Kawasaki" after the aforementioned value‐up. As a result, as of the end of January 2024, the occupancy rate had risen to approximately 90%, and the property is being marketed as an income-producing property.

The Group will continue to optimize the value of its properties in accordance with the property type and area characteristics, and will work to enhance the value of its properties and consider environmental and social activities. Through these activities, we will promote sustainability and strive to further enhance our corporate value.