Please note that the following is an unofficial English translation of Japanese original text of the timely disclosure. Niterra Co., Ltd. provides this translation for reference and convenience purposes only and without any warranty as to its accuracy or otherwise. In the event of any discrepancy between this translation and the Japanese original, the latter shall prevail.

March 25, 2024

Company Name : Niterra Co., Ltd.

Representative : Takeshi Kawai, President and COO

Securities Code : 5334

Stock listing : Tokyo Prime, Nagoya Premier

Contact : Hiroki Tomita, General Manager,

Financial Strategy Department

Start of Consideration for Transition to a Holding Company Structure

Niterra Co., Ltd. (the "Company") hereby announces that it has decided to start considering the transition to a holding company structure.

1.

Background and purpose

As the automobile industry undergoes a once-in-a-century transformation, changes in powertrains are expected toaccompany the diversification of energy sources. Although demand is expected to continue for vehicles with internal combustion engines for the time being, a slowdown in demand is expected in the medium term. In this business environment, under the "2030 Long-Term Management Plan NITTOKU BX" launched in April 2020, the Niterra group

(the "Group") aims to achieve both a shift to a business portfolio that is not solely dependent on automotive-related businesses and stable growth.

In recent years, the business environment surrounding the Group has become even more uncertain, and it has become increasingly important to steer the Group from a medium- to long-term perspective. Furthermore, market conditions differ for each business, and in order to maintain and improve competitiveness, prompt decision-making and system design appropriate for each business are essential. Against this background, the Company believes that it is necessary to consider the form of group governance in order to further improve corporate value, and the Company has decided to consider transition to a holding company structure.

2.

Method of transition

Regarding the method of transition, the Company will become a holding company by separating the business divisionsand some administration departments from the Company through a company split in which the Company will be a splitting company and the Company's wholly-owned subsidiary will be the successor company. The Company will announce the details such as methods and dates as soon as they are determined.

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NGK Spark Plug Co. Ltd. published this content on 25 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2024 07:38:07 UTC.