MATSUDA SANGYO Co., Ltd. has completed the establishment of an overseas subsidiary as a consolidated subsidiary of the Company. The Company has decided to establish a subsidiary for the purpose of coordinating regulated foreign capital businesses in Thailand. Overview of the subsidiary: Name: SEAM Holdings (Thailand) Co., Ltd. Date of establishment: October 20, 2023.

Commencement of business: December 2023 (Provisional). Business: Consulting-related businesses. Capital is THB 2 million (approx.

JPY 8 million).