PHC Holdings Corporation (hereafter PHCHD) announces that as of March 31, 2023, which is the reference date specified by the Tokyo Stock Exchange (hereafter TSE), PHCHD has become non-compliant with the listing maintenance criteria for the Prime Market.

PHCHD will initiate the following execution plan to meet the criteria.

Basic policy to comply with the listing maintenance criteria

PHCHD initiates capital policies as needed to achieve sustainable growth and increase mid/long-term corporate value. Maintaining listed status on the Prime Market is important in order for PHCHD to demonstrate sufficient liquidity and governance standards as an investment target. PHCHD will therefore seek to increase the tradable share ratio, in compliance with the listing maintenance criteria, by creating an environment where shareholders will be more easily able to sell shares that were previously non-tradable

Initiatives to achieve compliance with the listing maintenance criteria

In order to increase its tradable share ratio to over 35%, PHCHD will confirm with the relevant shareholders their intent to own shares and implement capital policies, including sales of non-tradable shares owned by existing shareholders. Furthermore, PHCHD will negotiate with those shareholders on measures to change their intent to maintain ownership of shares or request sales of the shareholders shares. PHCHD will also advance business growth as outlined in its Mid-term plan or 'Value Creation Plan (FY22-25)' announced in November 2022 and enhance engagement with investors to raise interest in future investments.

PHCHD will take measures when selling shares to minimize the impact of this initiative on stock price. PHCHD's plan is to increase the tradable share ratio to over 35% by the end of March 2025, and continue to maintain the tradable share ratio moving forward.

Contact:

Masashi Kimura

Tel: +81-3-5408-7280

(C) 2023 Electronic News Publishing, source ENP Newswire