The board of DIGITAL HEARTS HOLDINGS Co., Ltd. (TSE:3676) agreed to Spin-Off AGEST, Inc. on May 11, 2023. As part of the transaction, DIGITAL HEARTS will distribute of all shares of wholly-owned subsidiary, AGEST, Inc. to its shareholders through in-kind dividend and AGEST's shares will be listed on the Tokyo Stock Exchange, Inc. DIGITAL HEARTS is planning to reorganize its group companies in the Enterprise Business to be subsidiaries of AGEST. The shareholders will hold two listed shares, DIGITAL HEARTS's shares and AGEST's shares, as a result of the Spin-Off.

The transaction is resolved by the Board of Directors' of DIGITAL HEARTS.