Notice Regarding Investment in FOREST AGRICULTURE CO., LTD

Promoting Business Creation in the GX Sector Through the Circular Use of Forest Resources

Honda Trading Corporation (Headquarters: Chiyoda-ku, Tokyo; Representative Director, President & CEO: Katsuto Hayashi; hereinafter “Honda Trading”) hereby announces that it entered into a share transfer agreement on June 2, 2026 with Nihon Forest Co., Ltd. (Headquarters: Hita City, Oita Prefecture; Representative Director: Kazuhiro Moriyama; hereinafter “Nihon Forest”) for the acquisition of shares in Nihon Forest’s subsidiary, FOREST AGRICULTURE CO., LTD (Headquarters: Hita City, Oita Prefecture; Representative Director: Kazunori Isayama; hereinafter “FOREST AGRICULTURE”), and completed its investment in FOREST AGRICULTURE on June 30, 2026.

Through this investment, Honda Trading will strengthen its collaboration with Nihon Forest and FOREST AGRICULTURE and expand the seedling production infrastructure that supports the sustainable circular use of forest resources. Honda Trading will also leverage the expertise and networks of each company to drive the creation of GX (Green Transformation) related businesses based on forest resources, thereby contributing to the realization of a decarbonized society.

Honda Trading Representative Director, President & CEO Katsuto Hayashi (left) and Nihon Forest Representative Director Kazuhiro Moriyama (right)

In recent years, reliable reforestation following logging, strengthening of the seedling supply system, and the circular use of forest resources have become important social issues in Japan. Additionally, the automotive industry is increasingly required to address GX, including decarbonization across the entire supply chain and the adoption of renewable energy.
Honda Trading also aims to leverage the trading expertise and domestic and international networks it has cultivated over the years to create GX-related businesses that help to resolve social issues such as decarbonizing supply chains and utilizing renewable energy.

Against this backdrop, FOREST AGRICULTURE is operating a seedling production business focused primarily on fast-growing trees, and is working to construct a supply base to support reforestation following logging.
To achieve the sustainable use of forest resources, it is essential not only to utilize them as woody biomass and other forms, but also to establish a system that enables reliable reforestation after logging. A stable seedling supply, which serves as the starting point for this process, is an important foundation for sustaining the quantity and quality of future forest resources.

Honda Trading decided to make this investment because it believes that combining its own trading capabilities and domestic and international networks with Nihon Forest Group’s expertise in woody biomass and forestry operations and FOREST AGRICULTURE’s seedling production infrastructure will enable an integrated approach to cultivating, utilizing, and regenerating forest resources.

Through collaboration with Nihon Forest and Mori Agri, the Company aims to establish the circular use of forest resources, including everything from cultivation and utilization to regeneration, and will advance the creation of businesses in GX and decarbonization-related sectors based on forest resources.

Company Profile

Honda Trading Corporation

Location	18F Akihabara UDX South Wing, 4-14-1 Sotokanda, Chiyoda-ku, Tokyo
Representative	Katsuto Hayashi, Representative Director, President & CEO
Business Description	Procurement and supply of raw materials, parts, equipment and CBU as well as processing and manufacturing of some raw materials

Nihon Forest Co., Ltd.

Location	2813-22 Morodomemachi, Hita City, Oita Prefecture
Representative	Kazuhiro Moriyama, Representative Director
Business Description	Woody biomass power generation and production; environmental systems; forestry operations

FOREST AGRICULTURE CO., LTD

Location	2813-22 Morodomemachi, Hita City, Oita Prefecture (Nihon Forest Co., Ltd. Premises)
Representative	Kazunori Isayama, Representative Director
Business Description	Production of tree seedlings with a focus on accelerated-growth saplings; agricultural operations; forestry-related business