Kurita Industries, Ltd. (Head Office: Nakano-ku, Tokyo; President: Hirohiko Ejiri; hereinafter "Kurita") has jointly established Kurita Membrane India Private Limited (hereinafter "the JV"), a company specializing in water treatment solutions for the electronics industry, primarily semiconductors, in the Republic of India (hereinafter "India"), with Membrane Group India Private Limited (Head Office: Gurugram, Haryana, India; Chairman: M M Narang; hereinafter "Membrane Group"), which develops businesses related to the design, manufacture, installation, and service of water treatment equipment in India. The JV has commenced operations. Against the backdrop of further increasing semiconductor demand due to the rapid spread of generative AI, and the global trend of expanding and diversifying production bases to respond quickly and steadily to these demands, investments by domestic and foreign semiconductor-related companies are rapidly expanding in India, supported by the government's proactive corporate attraction policies. In line with these trends, the Indian semiconductor market size is projected to exceed 64 billion dollars in 2026 from 15 billion dollars in 2020 (*1), and reach 110 billion dollars in 2030. Furthermore, a 10-year roadmap published in May 2026 by the government think tank NITI Aayog (National Institution for Transforming India) sets a goal of building a semiconductor value chain worth 120 to 150 billion US dollars by 2035 (*2). The Kurita Group deploys diverse water treatment solutions tailored to customer needs and regional characteristics, from the production and supply of ultrapure water essential for manufacturing processes in the electronics industry, including semiconductors, to the recovery and reuse of wastewater, in Japan, East Asia, North America, and Europe. In line with the policy of aiming for further growth in the electronics industry, a key focus area in our Medium-Term Management Plan (PSV-27 Plan) through fiscal 2027, we have agreed