Notice Concerning Absorption-Type Merger (Simplified/Short Form Merger) of Wholly Owned Subsidiary

At a meeting held today, the Adastria Co., Ltd. Board of Directors resolved to merge wholly owned subsidiary Gate Win Co., Ltd. into the Company via an absorption-type merger, effective as of March 1, 2024.
As the Merger is a simplified, short-form merger with a wholly owned subsidiary, we have omitted certain disclosures.