Transfer of Consolidated Subsidiary (Share Transfer) and Recording of Extraordinary Loss (Non-Consolidated)

Dream Incubator Inc. (hereinafter “DI”) hereby announces that at a meeting held on May 13, 2022, its Board of Directors resolved to transfer all shares in consolidated subsidiary Work Style Lab, Inc. (hereinafter “WSL”) to LANCERS, Inc. Upon completion of the share transfer, WSL will cease to be a consolidated subsidiary of DI. Based on the transfer price, DI recorded a loss on valuation of shares of subsidiaries as an extraordinary loss in its non-consolidated financial statements for the fiscal year ended March 31, 2022.

Please see the attached document for details.

PDF of this press release