On the 14th, Meito Enterprise <8927> announced that it has acquired development land in Hongo, Bunkyo-ku, Tokyo.

This property is located in a prime location 7 minutes from Kasuga Station on the Toei Mita Line / Oedo Line, which allows direct access to the business hub Otemachi station in 6 minutes and 4 stations and 4 lines can be used. The property has an area of 207.09 square meters and is located in a quiet residential area with various shops nearby, providing both convenience and a good living environment, which is consistent with the company's business objectives. The property is planned to be offered as Meito's rental apartment development brand ELFARO series (tentatively named) Elfarotodaimae.

The purchase price is less than 30% of the consolidated net assets as of the end of the recent fiscal year (July 2023) of the Company, and there is no capital relationship, personnel relationship, or transactional relationship that should be disclosed between the Company and the seller. In addition, the impact of the acquisition of real estate on the Company's finances and performance is expected to be minimal.