Elematec : Notice Concerning Voluntary Application of International Financial Reporting Standards (IFRS)

March 28, 2024

To Whom It May Concern

Company RepresentativeElematec Corporation

Chief Executive Officer and Chairman of the BoardAkira Yokode

(Stock Code 2715 The Prime Market of the Tokyo Stock Exchange)Contact

Managing Director, Director of corporate Division

Masahiro Fukami

(Tel: [phone])

Notice Concerning Voluntary Application of International Financial Reporting Standards (IFRS)

Elematec Corporation (hereinafter referred to as the "Company") hereby announces that, at a meeting of its Board of Directors held today, the Company resolved to voluntarily apply the International Financial Reporting Standards (IFRS) to the consolidated financial statements in the Annual Securities Report for the fiscal year ending March 31, 2024 (the 78th fiscal year) in lieu of the Japanese GAAP.

As in the past, the Japanese GAAP will be applied to Summary of Financial Results and Consolidated Financial Statements based on the Companies Act for the fiscal year ending March 31, 2024.

The disclosure schedule (planned) based on the IFRS transition is as follows.

April 2024

: Summary of Financial Results for the fiscal year ending March 31, 2024 (Note 1)

(Japanese GAAP)

May 2024

: Consolidated Financial Statements based on the Companies Act for the fiscal year ending March 31, 2024

(Japanese GAAP)

June 2024

: Annual Securities Report for the fiscal year ending March 31, 2024

(IFRS)

Summary of Financial Results for the fiscal year ending March 31, 2024 (Note 2)

(IFRS)

(Note 1) Consolidated earnings forecasts for the fiscal year ending March 31, 2025, will be disclosed in accordance with IFRS.

(Note 2) The Company plans to disclose its Summary of Financial Results in accordance with IFRS on the date of filling the Annual Securities Report.