TRANSLATION FOR REFERENCE PURPOSE ONLYThis notice has been translated from the original Japanese text of the timely disclose statement and is for reference purpose
only. In the event of any discrepancy between the original Japanese and this translation, the Japanese text shall prevail.

June 19, 2024
Company Name:
Representative:
Contact:

ARE Holdings, Inc.
Tomoya Higashiura, President & CEO(Code: 5857, Tokyo Stock Exchange - Prime Market)
Jiro Saito, General Manager,
Corporate Planning & Communications Department(Phone: +81-3-6270-1833)(Corrections / Corrections of Numerical Data) Notice Regarding Partial Correction To“Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 ARE Holdings, Inc.
(former company name: Asahi Holdings, Inc.) [IFRS]”
Regarding the "Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 ARE Holdings, Inc. (formercompany name: Asahi Holdings, Inc.) [IFRS]" published on April 25, 2024, there were some matters that needed to becorrected, so we would like to make the following corrections. Additionally, there has been a correction to the numerical
data, so we will also send you the corrected numerical data.
1. Reason for correction
After the publication of the "Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 AREHoldings, Inc. (former company name: Asahi Holdings, Inc.) [IFRS], it was discovered that there were some errors
in the contents of the consolidated statement of financial position, and this has been corrected.
2. Details of corrections (Corrections are underlined)
Page 11 “4. Consolidated Financial Statements (1) Consolidated Statements of Financial Position”

[Before Correction]
As ofAs ofMarch 31,March 31,2023

2024

Millions of yenMillions of yen

LIABILITIES and EQUITY
Liabilities
Current liabilities
Trade and other payables

26,024

27,180Loans payable

91,49464,985210

2,387

Other financial liabilities

3,740

6,465

Provisions

1,462

1,302

Other current liabilities

2,547

5,694

Total current liabilities

125,480

108,015

Bonds and loans payable

52,86876,175

Deferred tax liabilities

275

4,432

Net defined benefit liability

107

99

Other financial liabilities

1,704

2,798

Other non-current liabilities

53–

Total non-current liabilities

55,01083,506

180,491191,522

Capital stock

7,790

7,790

Capital surplus

12,103

12,245

Treasury stock(5,925)(5,925)Retained earnings

96,319113,837

Other components of equity(3,330)(1,471)

Total equity attributable to owners of parent

106,957

126,476

Total equity

106,957

126,476

287,448

317,998

Income tax payableNon-current liabilities

Total liabilities
EquityTotal liabilities and equity

[After Correction]
As of

As of

March 31,

March 31,

2023

2024

Millions of yen

Millions of yen

LIABILITIES and EQUITY
Liabilities
Current liabilities
Trade and other payables

26,024

27,180Bonds and loans payable

91,494

69,970210

2,387

Other financial liabilities

3,740

6,465

Provisions

1,462

1,302

Other current liabilities

2,547

5,694

Total current liabilities

125,480

113,001

Bonds and loans payable

52,86871,190

Deferred tax liabilities

275

4,432

Net defined benefit liability

107

99

Other financial liabilities

1,704

2,798

Other non-current liabilities

53–

Total non-current liabilities

55,01078,521

180,491

191,522

Capital stock

7,790

7,790

Capital surplus

12,103

12,245

Treasury stock(5,925)(5,925)Retained earnings

96,319113,837

Other components of equity(3,330)(1,471)

Total equity attributable to owners of parent

106,957

126,476

Total equity

106,957

126,476

287,448

317,998

Income tax payableNon-current liabilities

Total liabilities
EquityTotal liabilities and equity-End of document-