Note: This document is a translation of the original Japanese version and provided for reference purposes only.
In the event of any discrepancy between the Japanese original and this English translation, the Japanese original
shall prevail.

January 31, 2024
Company: TODA CORPORATION
Representative: Seisuke Otani, President and Representative Director(Securities Code: 1860 TSE Prime Market)
Contact: Toshiyuki Kubodera, General Manager, Financial & IR Div.
(Phone: 03-3535-1357)

Notice Concerning Merger between Consolidated Subsidiaries andAccompanying Change in Trade Name of Consolidated SubsidiaryTODA CORPORATION (the “Company”) hereby announces that at the Board of Directors Meeting heldon January 31, 2024, the Company has resolved to implement an absorption-type merger (the "Merger"),
whereby Toda Staff Service Co., Ltd., a wholly owned subsidiary of the Company, will be the surviving
company and Chiyoda Kenkou Co., Ltd. and Green Support Systems Company Limited, also wholly owned
subsidiaries of the Company, will be dissolved. The Company has also resolved to change the trade name ofToda Staff Service Co., Ltd., the surviving company, to TGC General Service Company Limited (the "Changein Trade Name") in conjunction with the Merger.
Please note that it is a merger between consolidated subsidiaries of the Company, and that some disclosure
items and contents have been omitted.
1.

Purpose of Merger and Change in Trade Name
The purpose of the Merger is to increase management efficiency and strengthen the operating framework
by reintegrating the businesses of our Group companies and unifying the management and administrativestructure.
In addition, the trade name of Toda Staff Service Co., Ltd., the surviving company, will be changed toTGC General Service Company Limited in accordance with the unification of the management andadministrative structure.
The Change in Trade Name is subject to approval at an extraordinary shareholders' meeting of Toda Staff
Service Co., Ltd. to be held on February 1, 2024, and the Merger taking effect.
2. Summary of Merger(1) Schedule of merger
Board of Directors' resolution regarding merger of subsidiaries (the Company): January 31, 2024
Date of execution of merger agreement (merging companies): January 31, 2024
Extraordinary shareholders' meeting to approve merger (merging companies): February 1, 2024 (planned)* Each merging company will not publicly announce the record date of the shareholders’ meeting, but theresolution will be adopted by shareholders on the day of the shareholders’ meeting.
Date of merger (effective date) and trade name change: April 1, 2024 (planned)1(2) Method of merger
An absorption-type merger, with Toda Staff Service Co., Ltd. as the surviving company and Chiyoda
Kenkou Co., Ltd. and Green Support Systems Company Limited as the absorbed companies.
(3) Details of allotment in relation to merger
Since the Merger is a merger between wholly owned subsidiaries of the Company, there will be noallocation of shares or money, etc.
(4) Treatment of stock acquisition rights and bonds with stock acquisition rights in connection with merger
Not applicable.
3.

Outline of Merging Companies
Surviving company
Toda Staff Service Co.,Ltd.
7-10 NihonbashiKodenmacho, Chuo-ku,
Tokyo
Hideji Kouno,
President &Representative Director

Absorbed company
Chiyoda Kenkou Co.,Ltd.
2-19-6 Hatchobori,Chuo-ku, Tokyo(4) Scope of BusinessTemporary staffing
business (generalclerical and technicalstaffing)(5) Capital(6) Date of Establishment(7) Total Number of Shares
Issued(8) Fiscal Year End(9) Major Shareholders andShareholding Ratio

30 million yen
February 8, 2006
600 shares

Sales of materials forcivil engineering andconstruction works(ready-mixed concrete,products developed by
TODA Group), etc.
64.4 million yen
October 20, 1989
1,288 shares(1) Name(2) Address(3) Representative

Absorbed company
Green Support Systems
Company Limited
1-8-7 NihonbashiMuromachi, Chuo-ku,
Tokyo
Hiroshi Satou,
Hideji Kouno,
Representative Director President &Representative Director

March 31
March 31TODA
TODA
CORPORATIONCORPORATION
100%100%(10) Financial Situation and Operating Results for the Most Recent Fiscal Year
Fiscal Year Ending
March 31, 2023
March 31, 2023
Net assets
136 million yen
441 million yen
Total assets
239 million yen
4,640 million yen
Net assets per share
227,757 yen
342,783 yen
Net sales
868 million yen
205 million yen
Operating income
22 million yen
11 million yen
Ordinary income
22 million yen
14 million yen
Net income
14 million yen
15 million yen
Net income per share
23,482 yen
12,372 yen
Dividend per share
7,200 yen
0 yen

2Temporary staffing
business (generalclerical and golf
caddies), fee-charging
employment placementbusiness
50 million yen
March 16, 2000
1,000 shares
March 31TODA
CORPORATION
100%
March 31, 2023
81 million yen
178 million yen
81,824 yen
411 million yen(8 million) yen
2 million yen
2 million yen
2,651 yen
2,000 yen

4.

Post-merger Status and Change in Trade Name (scheduled for April 1, 2024)(1) Old Trade Name
Toda Staff Service Co., Ltd.
(2) New Trade NameTGC General Service Company Limited(3) Address
7-10 Nihonbashi-Kodenmacho, Chuo-ku, Tokyo(4) Representative
Yuuta Makino, President & Representative Director(5) Scope of BusinessTemporary staffing business (general clerical and technical staffing), sales ofmaterials for civil engineering and construction works (ready-mixed concrete,
products developed by TODA Group), etc.
(6) Capital
30 million yen(7) Fiscal Year End
March 315.

Outlook for the Future
Since this is a merger between wholly owned subsidiaries of the Company, the impact of the Merger on theCompany's consolidated results is immaterial.

End3