from Hinoki wood, a soft pine tree, which is very famous in Japan, is a clean product and good for the health of consumers. Hinoki wood has many special properties: it has oil inside the wood which

% 1,077,172 26% 1,275,755 39% Long-term investments 32,419 0% 30,572 0% 27,245 1% 23,757 1% Property, plant and equipment - net 1,646,419 22% 1,488,481 23% 1,462,585 36% 576,530 18% Investment properties 44,678

1% 23,757 1% Property, plant and equipment - net 1,646,419 22% 1,488,481 23% 1,462,585 36% 576,530 18% Investment properties 44,678 0% 75,447 1% 70,655 2% 74,465 2% Intangible assets - net 115,517 2

clean product and good for the health of consumers. Hinoki wood has many special properties: it has oil inside the wood which prevents it from becoming a fungus, has no moisture and has a unique fragrance

associates 1,727 1,652 1,608 4.5% 7.4% Loans * 2,017,314 2,029,810 2,083,160 (0.6)% (3.2)% Net properties for sale 10,341 10,613 10,604 (2.6)% (2.5)% Total assets 3,146,109 3,148,836 3,116,750 (0.1)% 0.9

properties 38,000 0% 44,678 1% 75,447 1% 68,101 1% Intangible assets – net 68,878 1% 115,517 1% 174,142 2% 76,271 2% Enclosure Page 7 Frequency wave and TV business license 3,376,188 39% 2,783,780 34

)% 13.0% Net investments 587,788 523,259 591,720 12.3% (0.7)% Net investments in associates 1,409 1,495 1,460 (5.8)% (3.5)% Loans * 2,065,487 1,978,511 2,003,989 4.4% 3.1% Net properties for sale 10,357

2,003,989 (2.1)% 0.9% Net properties for sale 10,767 10,357 11,415 4.0% (5.7)% Total assets 3,087,058 3,175,340 3,076,310 (2.8)% 0.3% * Less deferred revenue Total assets as of September 30, 2018, amounted to

22% 1,488,481 23% 1,462,585 36% 1,394,507 37% Investment properties 44,678 0% 75,447 1% 70,655 2% 73,581 2% Intangible assets - net 115,517 2% 171,182 3% 66,984 2% 77,911 2% Digital television licences

. Hinoki wood has many special properties: it has oil inside the wood which prevents it from becoming a fungus, has no moisture and has a unique fragrance. From the above reasons, the Resolution of the