Electric Power Development Co., Ltd. (J-POWER, headquartered, in Chuo-ku, Tokyo; President: Hitoshi Kanno) has agreed to subscribe to convertible bonds with share acquisition rights (the Bonds) issued by AREANO INC. (AREANO, headquartered, in Chiyoda-ku, Tokyo, corepresentatives: Akinao Takeda, Kota Toriumi, Yusuke Katsuro).

AREANO operates a business making Style Cabins, or the planning, design, and sales of trailer houses in attractive locations to create new value in local communities. AREANO, a new venture, has recently launched Ones Home, a business that uses non-fungible tokens (NFTs) to sell rights to stay in trailer houses and to experience the attractions of local areas.

By subscribing to the Bonds, J-POWER will support AREANO's business development and initiatives for business continuity planning as well as local production for local consumption using trailer houses. These initiatives provide an opportunity for J-POWER to combine diverse power generation assets from the technology and expertise cultivated through power generation and other businesses with AREANO's business, particularly in promoting the popularization of trailer houses developed and manufactured by AREANO, in this way contributing to improving regional value. In line with the commitment to achieve carbon neutrality- announced in February 2021 as part of J-POWER BLUE MISSION 2050-J-POWER will proactively work on initiatives for realizing decarbonization and for increasing engagement with local communities.

Contact:

Tel: (81)3-3546-2211

Fax: (81)3-3546-9532

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