Ten years since its founding. Looking ahead. ASNOVA Companies' next growth strategy.

Q. What kind of value does ASNOVA provide as a company?

I believe that the essence of ASNOVA lies not in scaffolding rental itself, but in "making the most of what we have."

Scaffolding is not something that is used once and is not finished. Scaffolding that has served its purpose on site is returned to the Equipment Center, where it undergoes inspection and repairs before being sent back to the site. Although this part is invisible to customers, behind the scenes, many employees are engaged with each component and connect its value.

I see a common thread between the spirit of "kintsugi," a traditional Japanese art of repairing broken pottery with gold, which has been practiced since the Muromachi period, and ASNOVA's rental business. It is an ancient Japanese culture of carefully repairing and continuing to use broken pottery rather than discarding it. Similarly, scaffolding is not something that is used once and then discarded, but rather something whose value is maintained and repaired repeatedly before being sent to the next customer. I feel that this way of thinking deeply overlaps with ASNOVA's rental business.

Cherishing things and passing on their value to the next generation – that philosophy is the origin of ASNOVA and remains our unchanging core principle.

Q. What kind of company does ASNOVA Companies aim to be?

Our goal is not simply to be a scaffolding rental company, but to be a global corporate group that leverages the strengths we have cultivated in scaffolding rental to challenge new business areas.

ASNOVA has grown mainly in Scaffolding Rental Business, but personally, I see great potential in the underlying philosophy of "using things for a long time and passing on value to the next generation" rather than the scaffolding business itself. The mindset and know-how cultivated through scaffolding rental are not limited to scaffolding alone. The concept of using things with care, enhancing their value, and passing them on, as well as managing and operating assets, are universal strengths that can be applied to various businesses. That is precisely why, under the holding company ASNOVA Companies, I want to take on new rental businesses in addition to scaffolding rental, including temporary toilet rentals.

Over the next 10 years, we want to build upon the foundation we've established so far, expanding our group's potential by accumulating new businesses, new regions, and new challenges.

Q. Why are you considering becoming a holding company now, in preparation for the "next 10 years"?

If the first ten years after founding were the period for building the foundation of Scaffolding Rental Business, then the next ten years will be a time to expand our business domains.

We transitioned from a standalone business centered on scaffolding rental to a group management structure encompassing multiple businesses. To adapt to this change, we felt it was necessary to separate business operations from group management. Therefore, in October 2026, we transitioned to a pure holding company structure. The holding company will be responsible for group management, capital allocation, and M&A strategies, while each operating company will focus on its respective business. By establishing this structure, we aim to achieve more agile growth.

Q. What possibilities did you see in your first M&A transaction?

In 2025, we welcomed Qool, a company that operates a temporary toilet rental business in Singapore, into our group. This was our first M&A, and through this experience, we reaffirmed that what we aim to be is not just a "scaffolding company," but a "company that creates new value through the power of rentals."

Temporary toilet rental may seem like a different business from scaffolding rental. However, they are essentially the same in that they both involve owning, renting out, collecting, maintaining, and regenerating assets to create new value. Qool has assets that have been in continuous use for many years, and we saw great value in that. The idea of generating revenue while making the most of things for a long time is exactly what ASNOVA has valued in its rental business. Through this encounter, we became convinced that the ideas and know-how we have cultivated in scaffolding rental can be applied to businesses other than scaffolding. We believe that the M&A with Qool has been a big step for us in expanding the possibilities of our rental business.

Q. Why did you see great potential in ASEAN?

ASEAN is at the heart of our future growth strategy. Initially, we considered acquiring many domestic companies, but we felt great potential in the ASEAN market, with its growing population and continued economic growth. In April 2026, we established ASNOVA Singapore, our regional headquarters for ASEAN. Moving forward, we plan to expand our operations from Singapore to the entire ASEAN region and even to APAC.

There are certainly differences in language and culture. However, I see them not as barriers, but as opportunities. Because there is a possibility of encountering excellent companies and business leaders that many people have not yet discovered. I would like to continue to grow by meeting excellent companies, based on the idea of "building up small things to achieve great things."

Q. What role will the domestic scaffolding business play in the future?

While we are pursuing new challenges, the importance of our domestic scaffolding business remains unchanged.

Currently, we have a Equipment Center network of 33 locations nationwide and one of the largest scaffolding holdings in Japan. Driven by demand for repairs to homes and condominiums and disaster preparedness, stable demand is expected going forward. The revenue generated by the domestic scaffolding business supports new M&A and overseas investments. We believe this virtuous cycle will be the growth engine of the ASNOVA Group. While the domestic business is the pillar of growth, results are also beginning to appear overseas. In the Vietnam business, adoption for large-scale projects led to recognition of Japan-quality safety and workability, significantly improving scaffolding utilization rates. I believe this achievement is not just a performance improvement but a major proof that the scaffolding rental know-how cultivated in Japan is applicable in overseas markets.

Q. As you continue to grow, how do you view dialogue with investors?

We believe that our holding company structure and M&A strategy will increase opportunities for more people to pay attention to ASNOVA than ever before. That's why I want to prioritize dialogue with investors. As a company aiming for growth, we will pursue aggressive investments such as M&A and overseas expansion. At the same time, we believe that financial discipline to support that growth is equally important.

The rental business is an asset-owning business. That's why it's essential to carefully communicate our investment decisions and the growth we aim for. Through earnings briefings, briefings for individual investors, and IR notes, we want to frankly communicate not only the numbers but also the thinking behind them and our progress. A company's growth can only be achieved with the trust and support of our investors. We will continue to value dialogue and work towards improving our corporate value in the long term.

Q. What kind of corporate group do you envision creating in 10 years?

In 10 years, I envision ASNOVA Companies as a global corporate group that transcends the boundaries of the rental business, creating new value through the power of rentals. Scaffolding, temporary toilets, and the various other businesses we will encounter in the future—the strengths cultivated in each of these businesses will connect, fostering the growth of people, developing products, and circulating that value throughout society. I want to be a force that supports such a future, not only in Japan but throughout Asia.

Our group purpose is "To nurture people, cultivate things, and create a future where prosperity circulates." This phrase remains the core of our management, unchanged even as our business areas expand.

Corporate growth cannot be achieved without the growth of its people. As each employee grows and takes on new challenges, the value of our products increases and our services are refined. This value, in turn, is returned to society, leading to greater prosperity. I want to create this cycle through our business.

The transition to a holding company structure marks the starting line for that future. Our challenge, which began with scaffolding rentals, will now expand beyond the boundaries of our business and region. Towards realizing a future where people, goods, and prosperity circulate, ASNOVA Companies will continue its challenges for the next decade.