Additional Acquisition of Shares in a Consolidated Subsidiary in Vietnam

Hoshizaki Corporation (Headquarters: Toyoake City, Aichi Prefecture, President and CEO: Yasuhiro Kobayashi), a comprehensive food service equipment manufacturer, announced today that it has signed a share transfer agreement with SEAREFICO CORPORATION (Headquarters: Ho Chi Minh City, Socialist Republic of Vietnam).

Through this agreement, Hoshizaki will additionally acquire shares owned by SEAREFICO in its Vietnamese consolidated subsidiary, ASIA REFRIGERATION INDUSTRY JOINT STOCK COMPANY (hereinafter referred to as ARICO; Headquarters: Ho Chi Minh City, Vietnam), a manufacturer and seller of commercial and industrial freezers and food processing equipment, thereby increasing its ownership ratio from the current 51% to 99.616%.

This additional share acquisition is intended to further strengthen governance, accelerate decision-making, and integrate business strategies.

Since becoming a consolidated subsidiary in March 2025, Hoshizaki has made production investments and has been preparing to establish the first Hoshizaki brand production base in Southeast Asia within ARICO's existing factory in Ho Chi Minh City. Mass production readiness has now been achieved, and shipments of commercial refrigerators manufactured at this factory will commence in early April, to be launched in Vietnam through Hoshizaki Vietnam.

The additional share acquisition is planned for June 2026 and will be conducted through Hoshizaki Southeast Asia Holdings Pte. Ltd. (hereinafter referred to as Hoshizaki Southeast Asia), our consolidated subsidiary and regional headquarters for Southeast Asia (Headquarters: Republic of Singapore).

Through the additional share acquisition, Hoshizaki will further strengthen ARICO's manufacturing base, expand product shipment destinations within the Southeast Asian region, and aim for further business expansion.

■ ARICO Company Overview

• Company Name: ASIA REFRIGERATION INDUSTRY JOINT STOCK COMPANY

• Location: Ho Chi Minh City, Socialist Republic of Vietnam

• Establishment: October 2007

• Business: Manufacturer and seller of commercial and industrial freezers and food processing equipment

• Representative:
  Chairman of the Board: Atsushi Uesugi
  President: Huynh Khoi Binh

• Capital: 278.3112 billion Vietnamese Dong (approx. 1.669 billion JPY*)

• Number of Employees: 99 (as of the end of December 2025)

• Number of Production Sites: 2 (Ho Chi Minh City) (as of March 26, 2026)

  *1 Vietnamese Dong = 0.006 JPY

■ Past Press Releases Regarding This Matter

2024.12.19 Signed an agreement to acquire shares in a Vietnamese refrigeration and food equipment manufacturing and sales company