Tranche Update on Nagoya Lumber Co., Ltd.'s Equity Buyback Plan announced on July 11, 2019.

Nagoya Lumber Co., Ltd. is a Japan-based company mainly engaged in the sale of wood products, construction materials and housing equipment, as well as the construction, sale and rental of real estate. The Company operates in three business segments. The Sales Headquarter segment is engaged in the wholesale of wood products, plywood products, construction materials and housing equipment, as well as the total sale of construction materials and housing equipment. The Market Headquarter segment is engaged in the planning and sale of condominiums, the design, construction and sale of custom houses and apartments, the renovation of houses, the sale of real estate, as well as the development of products. The Real Estate segment is engaged in the leasing of real estate.