Fuyo General Lease : Annoucement of Acquisition of Shares in MATEHAN SIAM LAMBDA CO.,LTD., a Forklift Sales and Rental Company in Thailand (Making it a Consolidated Subsidiary)

June 6, 2025

To whom it may concern

Annoucement of Acquisition of Shares in MATEHAN SIAM LAMBDA CO.,LTD., a Forklift Sales and Rental Company in Thailand (Making it a Consolidated Subsidiary)

Fuyo General Lease Co., Ltd. (hereinafter, the Company) announces it has acquired shares of three companies engaged in the sale and rental of used forklifts in Thailand and Japan, MATEHAN SIAM LAMBDA CO., LTD (hereinafter, MSL), CGM Co., Ltd. (hereinafter, CGM) and C.G.LOGISTICS CO., LTD. (hereinafter,CGL); (collectively, the "Matehan Company Group") and made them into consolidated subsidiaries.

1. Reason for acquisition of shares

   Under the Medium-term Management Plan ''Fuyo Shared Value 2026'', which begun in fiscal 2022, the Company aims to achieve sustainable growth as a corporate group by simultaneously solving social issues and realizing economic growth through the practice of CSV (Creating Shared Value).

   Furthermore, we have identified "Mobility & Logistics" as a growth driver for the concentrated investment of management resources. By providing one-stop services both domestically and internationally, with an emphasis on the vehicle and logistics domain in the mobility sphere, and collaborating with partners, we are currently expanding new business areas.

   MSL was established in 1995 for the purpose of forklift rental and sales in Thailand. Subsequently, CGM was established as a forklift procurement branch in Japan, and in 2001, CGL was established to provide forklift battery rental and sales services to MSL. With a diverse range of used forklifts, a network of branches covering all of Thailand, and an multitude of maintenance personnel, the group provide forklift related services focused on the Thai market.

   Through this acquisition of shares, the Company will establish a cooperative framework between PLIC Corp., Ltd., a consolidated subsidiary of the Company engaged in the logistics solutions business in Thailand and the Matehan Company Group. We will effectively utilize the customer networks, branch networks, and services provided by both parties to support the expansion of the Company's group's forklift truck business in Thailand, as awell as support the growth and create synergies to expand the domestic business by exporting forklift trucks that are nearing the end of their lease in Japan,

   （1）	Company Name	MATEHAN SIAM LAMBDA CO., LTD.
   （2）	Headquarters	Laem Chabang, Thailand
   （3）	Representative	Managing Director Koji Ono
   （4）	Business	Forklift sale, purchase, repair and training
   （5）	Established	July 1995
   （6）	Paid-in capital	30 million Thai Baht

2. Matehan Company Group Profile MSL Profile

   CGM Profile

   （1）	Company Name	CGM Co., Ltd.
   （2）	Headquarters	Sakura-shi, Tochigi Prefecture
   （3）	Representative	Managing Director Koji Ono
   （4）	Business	Forklift rental, sale, purchase and exportation
   （5）	Established	May 1996
   （6）	Paid-in capital	15 million Japanese Yen

   CGL Profile

   （1）	Company Name	C.G.LOGISTICS CO.,LTD.
   （2）	Headquarters	Laem Chabang, Thailand
   （3）	Representative	Managing Director Koji Ono
   （4）	Business	Sale and rental of forklift batteries
   （5）	Established	February 2001
   （6）	Paid in Capital	30 million Thai Baht

3. Future Outlook

The impact of this matter on our non-consolidated and consolidated business results for the fiscal year ending March 31, 2026 is negligible, and there is no change to the consolidated business forecast for the full year announced on May 9, 2025.