(Code: 3133 TSE Growth Market), has entered into an asset management agreement with KR Energy No. 1 LLC ("KR No. 1"), a consolidated subsidiary of Kaiho Corporation (Code: 3133 TSE Growth Market).

KR1 has signed a long-term power purchase agreement with a third party, a subsidiary of a large global e-commerce company, on May 22, 2023 to sell power from renewable energy sources. (see link below)

Notice of Conclusion of Long-Term Power Purchase Agreement Utilizing Renewable Energy Sources."

KR1 plans to develop and start power sales operations in Japan by the end of March 2025 with a total of 31.350 MW-DC/16.335 MW-AC of non-fit low voltage solar power plants.

In connection with such power sales business, KR1 entered into an Asset Management Agreement with the Company on June 6, 2023 for the purpose of outsourcing a portion of its operations related to the development and operation of a non-fit low-pressure solar power plant. (see link below)

(Progress of disclosure) Photovoltaic power generation facilitiesNotice of Asset Management Agreement for the Development, Construction, and Operation of a New Business Development Project".

The Company has a cumulative total of approximately 880 MW (DC size) and a total project cost of approximately 140 billion yen (as of March 31, 2023) for its own investment, asset management, and advisory services for special high-voltage fit projects in the solar and biomass power generation business.

In the future, we will actively work to reduce greenhouse gas emissions for a decarbonized society by promoting low-pressure non-fit photovoltaic power generation business as a new business, utilizing our knowledge based on our track record and experience in special high-voltage fit projects.

... and upwards

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