Gift Holdings <9279> announced on the 18th that in order to expand its direct store business in Canada, it will establish a new subsidiary in October (planned).

The new company to be established is named Gift Toronto, located in Toronto, Ontario, Canada. The representative is Seiji Fujii. Two directors of the company also serve as directors. The capital is approximately 0.1 billion yen, fully owned by the company. It accounts for over 10% of the company's capital and qualifies as a specific subsidiary of the company.