April 25, 2024
Mizuho Leasing Company, LimitedGecoss Corporation

Capital and Business Alliance Between Mizuho Leasing and GecossThis notice is to announce that Mizuho Leasing Company, Limited (head office: Minato-ku,Tokyo; President and CEO: Akira Nakamura; hereinafter “Mizuho Leasing”) and Gecoss
Corporation (head office: Bunkyo-ku, Tokyo; President and CEO: Yoshiyuki Nobusa;hereinafter “Gecoss”) have agreed to form a capital and business alliance (hereinafter the“Capital and Business Alliance”) and have concluded a capital and business allianceagreement, effective April 25, 2024, on the condition that Mizuho Leasing will acquire
6,760,000 common shares (ratio of voting rights: 20.03% (rounded off to the second decimalplace; the same will hereinafter apply in the calculation of ownership ratio of voting rights))
of Gecoss. By combining our respective strengths and promoting cooperation through theCapital and Business Alliance, we will work on expanding our businesses and growth areas
even further as well as maximizing our corporate value.
1. Reason for the Capital and Business Alliance
Mizuho Leasing provides a broad variety of financial- and business-related services byleveraging its expertise in goods, deep understanding in sales channels, and advanced
financial knowhow. Under the Medium-Term Management Plan 2025 announced on May
12, 2023, it aims to make the great leap from a leasing company by integrating new
business strategies that correspond to clients’ advanced business models, the Mizuho
Leasing Group’s initiatives in focus areas, and the strategic initiatives implemented
through cooperation with its alliance partners, to evolve into to a multi-solution platformer
that enables clients to tackle social and business challenges by providing solutions
beyond traditional financing to co-create value as a partner.
Gecoss caters to a broad range of construction industry needs and contributes to building
a safe and secure society through its heavy temporary construction business (i.e., leaseand sales of temporary construction materials and design and implementation oftemporary construction work) and construction machinery business (i.e., lease of1

construction machinery). In addition, Gecoss is working on expanding in areas such asmachined items and temporary bridges primarily in its domestic heavy temporary
construction business, entering the overseas heavy temporary construction business, andstrengthening its construction machinery business. Moving forward, it aims to achievebusiness area expansion and profitability growth by accelerating these initiatives andtaking steps to enter new growth areas.
Following our discussions, aimed at fully capitalizing on our respective strengths andbusiness foundations to strengthen our existing businesses as well as creating new
business opportunities by leveraging our respective knowhow and infrastructure, weagreed that we could build a relationship that would contribute to raising the corporate
value of both companies by combining our strengths and promoting cooperation. We
believe we can generate synergy by leveraging Mizuho Leasing’s broad knowledge ingoods, deep understanding in sales channels, and advanced financial knowhow, Gecoss’knowledge and business network that it has accumulated over the years through its heavy
temporary construction business and construction machinery business, and cooperation
with JFE Group members, as well as by complementing one another.
Furthermore, we believe that by utilizing our respective resources and businessfoundations, we will be able to expand into new domains in which we have hitherto notbeen involved and enter businesses that contribute to addressing a variety of social issues
anticipated in the future.
Under this understanding, Mizuho Leasing has agreed to acquire a portion of the Gecossshares (hereinafter the “Share Acquisition”) owned by JFE Steel Corporation (hereinafter“JFE Steel”) and JFE ComService Co., Ltd. (hereinafter “JFE ComService”), and Mizuho
Leasing and Gecoss have concluded a capital and business alliance agreement.
2. Content of the Capital and Business Alliance, etc.
(1) Content of the Capital and Business Alliance
In order to realize growth of our respective businesses and enhancement of corporate
value, we have agreed to promote a concrete business alliance between Mizuho
Leasing and Gecoss aimed at fully capitalizing on our respective businessfoundations to strengthen our existing businesses as well as creating new business
opportunities by leveraging our respective knowhow and infrastructure. The currently
envisioned areas and content of our business alliance are as follows. We will holddiscussions to promptly establish the specific content and implementation method of2the Capital and Business Alliance, with the aim of realizing the effects of the allianceas soon as possible.
(1) Cooperation in the heavy temporary construction business and construction
machinery business(2) Cooperation in overseas business(3) Cooperation in new areas where our respective knowhow, infrastructure, etc.,
can be utilized(4) Mutual exchange of human resources
To ensure smooth implementation of the Capital and Business Alliance, Mizuho
Leasing plans to send an outside director to Gecoss, on the condition that the ShareAcquisition is executed and approval is given in Gecoss’ general meeting ofshareholders(2) Content of the Share Acquisition
To ensure smooth implementation of the Capital and Business Alliance, Mizuho
Leasing has agreed to acquire 6,760,000 common shares of Gecoss from JFE Steeland JFE ComService. Once the Share Acquisition is completed, Mizuho Leasing will
own 20.00% of the total outstanding shares of Gecoss (33,795,746 shares) as of theend of March 2024, and will own 20.03% of the total number of voting rights of Gecoss(337,473) as of the end of March 2024.
As a result of the Share Acquisition, Gecoss is scheduled to become an equitymethod affiliated company of Mizuho Leasing.

33. Overview of the agreement parties(1) Overview of Mizuho Leasing(i)

NameMizuho Leasing Company, Limited(ii)

Location

2-6 Toranomon 1-chome, Minato-ku, Tokyo(iii)

Representative

Akira Nakamura, President and CEO(iv)

Business activities

General leasing business(v)

Capital26,088.03 million yen(vi)Date ofestablishment

December 1, 1969

(2) Overview of Gecoss(i)NameGecoss Corporation(ii)Location

5-1 Koraku 2-chome, Bunkyo-ku, Tokyo(iii)

Representative

Yoshiyuki Nobusa, President and CEO- Lease and sales of temporary steel materials forconstruction work, such as H-shaped steel, steel sheet
piles, steel earth- retaining materials, road deck panels,
and steel floor plates- Production, machining, and sales of machined items(products), such as steel segments and H-shaped(iv)

Business activities

supports- Lease, sales, and construction of temporary bridges- Lease of construction machinery, aerial work vehicles,
etc.
- Design and implementation of pile punching work,
earth-retaining structure installation/dismantling work, soil
cement column wall construction work, etc.

(v)
(vi)

CapitalDate ofestablishment

4,397.5 million yen
June 20, 1968

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4. Schedule
(i)
(ii)
(iii)

Date of capital and business alliance agreement(Mizuho Leasing – Gecoss)
Date of share transfer agreement (Mizuho Leasing –JFE Steel, Mizuho Leasing – JFE ComService)
Execution date of share acquisition

April 25, 2024
April 25, 2024
May 10, 2024
(planned)Approval from the Japan Fair Trade Commission has been obtained for execution of theShare Acquisition that serves as a condition for the Capital and Business Alliance.

● Contact information
Corporate Planning Department, Mizuho Leasing
Phone: +81-3-5253-6540

Corporate Planning Department, Gecoss
Phone: +81-3-6699-7404

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