ALMETAX MANUFACTURING CO., LTD.

The Company's major sales destinations are concentrated among specific customers, primarily large prefabricated housing companies, and sales trends at these customers may directly affect the Company's financial position, business performance, and cash flows. Due to the concentration of the customer base, a deterioration in the business performance of specific customers or a decrease in order volume would have a significant impact on the Company's performance. The annual securities report does not describe specific countermeasures.

The prices of some raw materials used by the Company may fluctuate due to changes in international circumstances and other factors, and rising procurement costs may affect the Company's financial position, business performance, and cash flows. Since geopolitical risks and fluctuations in resource supply and demand can spill over into raw material prices, there may be situations where cost management becomes more difficult. The annual securities report does not describe specific hedging measures or countermeasures.

The value of investment securities held by the Company may fluctuate due to changes in stock market trends, government monetary policy, international circumstances, and other factors, and the Company may sell such securities from a financial and risk management perspective. Gains or losses on sale may arise at the time of sale, which may affect the Company's financial position, business performance, and cash flows. The annual securities report does not describe details of the securities held or specific risk management policies.