ITO EN, LTD. ("the Company"), hereby announces that the Board of Directors has resolved at a meeting held on November 29, 2023 to establish subsidiaries in the Federal Republic of Germany and the Socialist Republic of Vietnam. In order to develop new overseas markets, the company have decided to establish a local subsidiary to quickly respond to issues in the European and ASEAN markets. With the establishment of the subsidiary, the company will increase the Group's presence in the European and ASEAN markets and the recognition of the "Oi Ocha" brand to further accelerate business activities toward becoming a "Global Tea Company".

Trade Name: ITO EN Europe GmbH. Location: Düsseldorf, Federal Republic of Germany; Stated Capital: 2 million euro (approx. 320 million yen)(Of which 1.75 million is capital reserve).

Establishment: April 1, 2024; Business Description: Import and sales of ITO EN brand products. Trade Name: ITO EN VIETNAM CO.,LTD. Location: Ho Chi Minh City, Socialist Republic of Vietnam; Stated Capital: VND24 billion. Establishment: April 1, 2024; Business Description: Import and sales of ITO EN brand products.