Establishment of PHIARO Technologies,Ltd.

Dear all Phiaro Clients and Phiaro funs.

We are writing to introduce new company PHIARO Technologies ltd established on April 8^th, 2024.
PHIARO Corp signed a capital business alliance agreement with Xtalin Engineering, kft, an engineering company based in Budapest, Hungary.
PHIARO Technologies, Ltd agreed to pursue sustainable growth and enhance competitiveness in the mobility industry as a new member of the Phiaro group.
This partnership aims to accelerate the technical expertise and innovation of Phiaro Technologies enhanced in Europe within the Phiaro Group, accelerating the strengthening of service offerings and expansion into new markets.
PHIARO Technologies will continue to maintain its independence while striving to realize its growth strategy by accessing the broader resources and network of the group. Both companies will continue to collaborate to drive the growth and development of the entire group.
We look forward to a strong relationship together and success for all challenges.

Sincerely
CBO Teruhiko Iwasaki