TRANSLATION FOR REFERENCE PURPOSE ONLYThis notice has been translated from the original Japanese text of the timely disclose statement and is forreference purpose only. In the event of any discrepancy between the original Japanese and this translation,
the Japanese text shall prevail.
April 27, 2022

To whom it may concern
Company Name:
Representative:Contact:

Asahi Holdings, Inc.
Tomoya Higashiura, President & CEO(Code: 5857, Prime Market of theTokyo Stock Exchange)
Kunihiko Chogo, General Manager,
Corporate Planning & Communications Department(Phone: +81-3-6270-1833)

Notice on Transfer of Consolidated Subsidiary (Share Transfer)
This is to notify that Asahi Pretec Corp. (hereinafter “Asahi Pretec”), a consolidated subsidiary of Asahi Holdings., Inc.
(hereinafter “the Company”), has agreed to transfer all the shares of JW Glass Recycling Co., Ltd. (hereinafter “JWGR”),
its consolidated subsidiary, to TAKEEI CORPORATION (hereinafter “TAKEEI”), a consolidated subsidiary of TRE
HOLDINGS CORPORATION (hereinafter “TRE Holdings”), and it executed today a share transfer agreement with TAKEEI
as shown below.
As a result of this share transfer, JWGR will be excluded from the Company's consolidated subsidiaries.
1. Reasons for the share transfer
JWGR was founded in 1951 as its predecessor, Io Glass, and is engaged in a recycling business that collects, crushes andsorts plates and bottled glasses, and then sells cullet to manufactures of plate, bottle glass and glass wool as raw materials
for recycled glass, mainly in Tokyo, Hokkaido, Gunma and Shizuoka prefectures. Since joining the Company’s Group in
December 2009, it has been providing stable sales of high-quality recycled glass cullet by introducing advanced
technology against a background of a long-term trust.
TRE Holdings has a corporate philosophy of “contributing to the conservation of the global environment” and aims to bea “Comprehensive Environment Management Enterprise” that contributes to a highly recycling-oriented society and acarbon-free society by expanding the business domain and promoting diversification.
While manufacturing and stable supply of high-quality recycled glass cullet operated by JWGR has promoted the glass
recycling and contributed to the Company’s consolidated business results, this share transfer is expected to create asynergy in solar panel recycling and glass recycling of used cars promoted by TRE Holdings Group. Moreover, theCompany has decided the share transfer to optimize how to allocate management resources in its future growth strategies
2. Overview of JWGR
(1)

Name

JW Glass Recycling Co., Ltd.

(2)

Location

4-3-32 Shin-Kiba, Koto-ku, Tokyo 136-0082, Japan(3)

Job title and name ofRepresentative Director and President: Hidekazu Yukimori

representative(4)

Description of businessCollection, recycling, and sales of glass scraps(5)

Share capital¥ 30 million(6)

Date of establishment

October 5, 2004

(7)

Major shareholder andAsahi Pretec Corp.: 100%ownership ratio(8)

Relationship between

Capital relationship

JWGR is a wholly owned subsidiary of Asahi Pretec

the Company and JWGR

Corp., a wholly owned subsidiary of the Company.
Personnel relationship

There is a personnel relationship through directors andemployees being dispatched to JWGR.

Business relationship

Not applicable1(9)Operating performance and financial condition of JWGR for the last three years
As of / Fiscal year ended

March 31, 2019

March 31, 2020

March 31, 2021Net assets (¥ million)

769

945

1,034

Total assets (¥ million)

1,989

1,912

1,972

1,281.90

1,575.36

1,723.05

Net assets per share (¥ thousand)
Revenue (¥ million)

1,174

1,236

1,194

Operating profit (¥ million)

149

210

178

Ordinary profit (¥ million)

119

178

165

Net income (¥ million)

74

180

84

123.82300.05139.83

Net income per share (¥ thousand)3. Overview of TAKEEI CORPORATION
(1)

Name

TAKEEI Co., Ltd.

(2)

Location

Shiba Park Building A-10F, 2-4-1 Shibakouen, Minato-ku, Tokyo 105-0011, Japan(3)

Job title and name ofPresident: Mitsuo Abe

representative(4)

Description of businessCollection, transportation, and disposal or recycle of industrial and general waste(5)

Share capital¥ 8,489 million(6)

Date of establishment

March 7, 1977

(7)

Major shareholder and

TRE HOLDINGS CORPORATION: 100%

ownership ratio(8)

Relationship between

Capital relationship

Not applicable

the Company andPersonnel relationship

Not applicable

TAKEEI

Business relationship

While Asahi Pretec, a wholly owned subsidiary of theCompany, and TAKEEI have a business relationshiprelated to waste disposal, JWGR and TAKEEI have nobusiness relationship.

Related party relationship

Not applicable

4. Number of shares to be transferred and number of shares owned before and after the transfer(1)

Number of shares owned

600

before transfer(Number of voting rights: 600)
(Ratio of voting rights held by the Company: 100%)

(2)
(3)

Number of shares to be600

transferred(Number of voting rights:600)

Transfer price

The Company refrains from disclosing the transfer price due to confidentiality
obligations with the transferee.

(4)

Number of shares owned

0after transfer(Number of voting rights: 0)(Ratio of voting rights held by the Company: 0%)

5. Timetable(1)

Date of resolution at the meeting of the Board of Directors

April 27, 2022

(2)

Date of the conclusion of the share transfer agreement

April 27, 2022

(3)

Date of share transfer

May 2, 2022 (Scheduled)

6. Future outlook
This share transfer will have only a minor influence on the Company's performance.

2