To whom it may concern

Tosei Corporation (Head office: Minato-ku, Tokyo; President and CEO: Seiichiro Yamaguchi; Securities code: 8923, "the Company" hereafter) has entered into a capital and business alliance agreement with Nagoya Railroad Co., Ltd. (Head office: Nagoya, Aichi Prefecture; President: Hiroki Takasaki; Securities code: 9048, "Nagoya Railroad" hereafter) as of May 24, 2024.* We are pleased to announce that we have launched a joint project in our real estate crowdfunding business today.

The capital and business alliance aims to maximize the corporate value of the Company and Nagoya Railroad by synergistically utilizing their respective expertise and strengths cultivated to date in the Greater Tokyo area and the Nagoya area and promoting joint projects in the real estate business.
The main initiatives of the capital and business alliance include "promotion of joint projects in the real estate tech business and private placement fund business" and "promotion of joint business in the Greater Tokyo area and the Nagoya area," aiming to strengthen the real estate fund business of both companies and further expand their presence in their respective business areas.

As a joint project between the two companies, the agreement was made to sell a residential property in Naka-ku, Nagoya City to a special purpose company, an operator of the real estate fund under the Real Estate Specified Joint Enterprise Act, in the real estate crowdfunding business (TREC FUNDING) operated by the Company.
Please refer to the TREC FUNDING website for details of the project.