www.nisshinbo.co.jp/nish/news/pdf/news20221004_1.pdf

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特定子会社の異動（清算）に関するお知らせ

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https://www.nisshinbo.co.jp/nish/news/pdf/news20221004_1.pdf

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This document informs that Nisshinbo Holdings Inc. decided to liquidate its subsidiary, TMD Friction Holdings (UK) Ltd., during the board meeting held on September 29, 2022. The liquidation is aimed at addressing inefficiencies arising from the complex corporate structure of the TMD Group and facilitating a group reorganization. TMD Friction Holdings (UK) Ltd. served as an intermediate holding company in the UK, and its liquidation is expected to reduce running costs and promote efficient group management. While the specific timeline for the liquidation is currently undecided, the impact on consolidated financial results is anticipated to be minor.