Nichimo : IR Topics for the Year Ended March 31, 2023

Okhotsk Nichimo Ｃｏ., Ltd. started operations in April 2023.

Hokkaido Marine Service Ｃｏ., Ltd., our seafood processing subsidiary in Mombetsu, Hokkaido, changed its name to Okhotsk Nichimo Ｃｏ., Ltd. and started upgraded crab and scallop processing operations in April 2023.

The business operations of Nichimo's Mombetsu
Office,whichhadbeenprocessingandsupplying
crab and scallop products over the past three
decades, have been merged into the new
company.	Sorting crabs

Okhotsk Nichimo has the advanced scallop processing lines engineered by Nichimo's Machinery Department. The company has increased operational efficiency and saved labor further thanks to the state-of-the-art machinery and equipment and the optimized processing lines from sorting to freezing. Okhotsk Nichimo will shift into mass production to grow its sales further in the online shopping market and the rebounding restaurant industry.

In addition to the upgraded processing lines, the company has a newly built dormitory for technicalinterntrainees. Asweshiftintomassproduction,itisvitaltoprovideacomfortable work environment and keep our employee retention rate high.

Yamaichi Suisan, another subsidiary in Mombetsu,operatesitsnewsurimiandfishmeal factory successfully following the recent large capital investment.

Okhotsk Nichimo is proud to be a community
member of Mombetsu and contributing to the
City's regional revitalization with job
opportunities we create and the popular crab
and scallop thank-you gift options we offer to
support the City's Hometown Tax Program.	New scallop sorting machine

The Nichimo Group keeps securing reliable, undisturbed supply of seafood products and creating new value while promoting sustainable business development.

We operate the largest land-basedsalmon farm in Kyushu.

Nichimo will release Sustainability Report 2023 in July

Nichimo will release Sustainability Report 2023 in July this year to share with our stakeholders what we are and where we are going. In addition to our business and financial information, the Report introduces you our strategies and plans to keep developingand increasing our corporate value as well as the company's environmental, social, governance and human resources performance.

The Report includes how we support a sustainable society with our products and services. Nichimo,

for example, develops and supplies biodegradable plastic products to address the issues of marine debris and CO2 emissions.

Also introducedin theReportare our fish farmingprojects, both atseaandon land, tosecure stable food supplies as we see natural seafood resources are diminishing. One of them is the land-based salmon farming project. Nichimo works with three project partners and operates the largest land-based salmon farm in Kyushu, Japan.

Nichimo recognizes the issues of climate change and our corporate responsibility in confronting climate-related challenges. In April 2023, Nichimo declared its support for the Task Force on Climate- related Financial Disclosures. Our TCFD status is included in the Report.

Nichimo supports the TCFD and its recommendations.

The Report also outlines what we do to develop and grow Nichimo's corporate value further, from operational and financial aspects respectively.

To deliver our commitment in line with the Ten Principles of the UN Global Compact, Nichimo conducted a materiality assessment to identify three key fields for the company as shown in the Report. We will identify and report our specificmaterial issuesafter further assessment.

The Report contains many more information including, among others, our human recourses development programs, the interview of the company's Outside Directors and the interview of our future leaders talking about their vision.

We trust you will find our Sustainability Report 2023 informative and useful. The Report will be also released on our website.

Nichimo is committed to develop and grow the company's corporate value. We thank all the stakeholders for your continued support and patronage.