Tsubaki Nakashima : Notice Concering Obtaining of Credit Rating

March 25, 2021

Tsubaki Nakashima Co., Ltd.

Koji Hirota

Director and Representative Executive Officer CEO

Tokyo Stock Exchange (Code 6464) Contact for inquiries: Ikunori Morita

Phone: [phone]

Notice Concerning Obtaining of Credit Rating

Tsubaki Nakashima hereby announces that it has newly obtained credit rating from Rating and Investment Information, Inc.("R&I") today. Details are as follows.

1. Details of Rating

Rating Agency	Type of Rating	Credit Rating	Outlook
R&I	Issuer Rating	BBB+	Stable

For details of rating definition and rationale, please refer to the press release issued by R&I (URL:https://www.r-i.co.jp/index.html).

2. Date of Announcement March 25, 2021

3. Purpose of Obtaining Rating

By obtaining an objective evaluation of the Group's business and financial conditions from a third-party organization, we aim to enhance the soundness of our management and external credibility, as well as to diversify and stabilize our future fund procurement.

Disclaimer：The English translation is only for reference purposes. When there is any discrepancy between original Japanese version and English translation, the original Japanese version always prevails.