Notice Regarding Commencement of First U.S. Expansion Project

AI Summary (NQ-processed)

Kasumigaseki Capital Co., Ltd. has established a local subsidiary, Kasumigaseki US Corporation, in the U.S. and commenced its first U.S. expansion project in Miami. The project involves the acquisition of development land within Miami Worldcenter, led by local developer Falcone Group, LLC, focusing on a mixed-use development primarily comprising hotels and residences. This strategic move leverages the company's strengths in low-cost operations and high design quality in the U.S. hotel market, and addresses the high demand for residences due to corporate relocation and increased individual choice in living locations.