Tosei Corporation (Head office: Minato-ku, Tokyo; President and CEO: Seiichiro Yamaguchi; Securities code: 8923, "the Company" hereafter) is pleased to announce that it has joined a new condominium development project in Asakusa, Taito-Ku, Tokyo, as a joint venture with Meitetsu City Design Co., Ltd. (Head office: Nagoya, Aichi Prefecture; President and CEO Hiroshi Hibino, " Meitetsu City Design" hereafter).

The Company has participated in the joint venture, "(Tentative) Asakusa Project," a new condominium development project currently being undertaken by Meitetsu City Design in Asakusa 6-chome, Taito-ku, which the Company joined through. The Company acquiring a partial ownership stake in the development.This collaboration is an initiative under the "Promotion of joint projects in the Greater Tokyo area," based on the capital and business alliance agreement with Nagoya Railroad Co., Ltd. in May 2024, and was agreed to promote this project through Tosei's investment in the property, which will be developed by Meitetsu City Design, a developer active in the Greater Tokyo area.

The capital and business alliance agreement stipulates that the two companies will work on several key initiatives, including the "Promotion of joint business in the Nagoya area that contributes to the creation of attractive cities," the "Promotion of joint projects in the real estate tech business and private fund business," and "Collaboration in terms of human resources and expertise." Since the establishment of the Business Alliance Promotion Committee last year, both companies have been advancing discussions on these matters.To date, in addition to the current joint investment, the two companies have engaged in various collaborations, such as real estate crowdfunding projects, and continue to strive for mutual expertise sharing and a stronger partnership.