[Press Release] DENZAI Makes Kurogane Corporation a Wholly-Owned Company

30 August 2024, Tokyo, Japan - DENZAI K.K. (President and CEO: Kohki UEMURA; Head office: Minato-ku, Tokyo; Head office: Muroran City, Hokkaido; hereinafter "DENZAI") has announced that it has made Kurogane Corporation (President: Junji Kuroiwa, Head office: Kitakyushu-city, Fukuoka) a wholly-owned company by acquiring all outstanding shares. It has 77 years - a long history in the same business in Kyushu region. This deal has been in effective from 30 August 2024. This is the first footprint in Kyushu area for DENZAI group, and we will make it to a concrete foothold.

Comment from Kohki Uemura - CEO, DENZAI K.K.

"Kurogane Corporation is a long-established major company with a 77-year track record in Kitakyushu City, which has been selected as a base port for offshore wind power generation. It has been providing services to Nippon Steel Corporation's Kyushu Works in the Yahata and Oita as an onsite subcontractor, and is highly trusted by the company. Kurogane's equipment and human resources will be integrated to achieve further development and success of both companies."

Comment from Junji Kuroiwa - Chairman, KUROGANE Corporation

"We are proud to have been a leading company for 77 years since our establishment and up to the present, and we would like to continue to run as a pioneer. Now we have formed a capital alliance, we will be able to continue running at an even faster pace with the backing of the DENZAI Group. We hope to continue to be a company that is seen as a target for local companies and a company that supports the Kyushu region and other industrial areas in western Japan by utilizing the equipment within our group."

Company Information (After 30 August 2024)

As of 30 Aug, Junji Kuroiwa will be the Chairman, and Kohki Uemura will be appointed to the President and CEO of Kurogane Corporation.