In the February 27, 2023 press release titled “Notification of the postponement of wind power station renewal,” Meidensha Corporation (“the company”) notified that M Winds Hachiryu Co., Ltd., a consolidated sub-subsidiary of the company, would postpone its project to renew the facilities at the Hachiryu Wind Power Station in Mitanecho, Akita Prefecture. On March 30, 2026, the company’s Board of Directors decided, after reassessing the investment, to invest approximately ¥11 billion in the renewal described below.

1.Past developments

To promote sustainability (ESG) management and help achieve carbon neutrality, the company is focusing on renewable energy-related businesses. As part of these efforts, M Winds Hachiryu Co., Ltd. owns the Hachiryu Wind Power Station and operates it as a facility to sell electricity under a FIT (feed-in tariff) contract, which is set to expire in January 2027. As announced in the press release dated December 27, 2021, titled “Notice of investment in wind power station renewal,” the company decided to replace the wind power generators. However, as stated in the press release dated February 27, 2023, titled “Notification of the postponement of wind power station renewal,” the project was postponed after the company determined that the conditions for investment had changed due to rising material and construction costs, growing demand for renewable energy, and a surge in energy prices.

2.Background to the latest investment decision

The company has reviewed its Environmental Vision, which is based on the 1.5°C scenario, and has set a goal of achieving zero emissions in Scope 2 by the end of 2040. As part of the measures to achieve this goal, the company has decided to invest in the renewal of the Hachiryu Wind Power Station to improve power generation efficiency upon the expiration of the FIT power purchase contract in January 2027.
Through this measure, the company will secure a stable, long-term source of renewable energy that is unaffected by external conditions and use it as a strategic decarbonization power source for achieving carbon neutrality, thereby enhancing both environmental and corporate value.

3.Outline of the capital investment

4.Outlook

The impact of this decision on the company’s consolidated results for the fiscal year ending March 2026 will be negligible. We will swiftly notify of any development deemed necessary to make public.