(Head Office: Chiyoda-ku, Tokyo; CEO: Osamu Hata; hereinafter "WAP") announced that Odakyu Corporation (Head Office: Shinjuku-ku, Tokyo; President: Shigeru Suzuki; hereinafter "Odakyu") has adopted the "HUE Asset" fixed asset management system. With the adoption of HUE Asset, Odakyu will centralize the support of the new lease accounting standards for the 30 companies in the Odakyu Group. Odakyu will reduce its workload by taking advantage of the high degree of integration with the "HUE" series, which has been utilized in the financial accounting area up to now.

Background of Adoption: Considering a group-wide lease management system.

　Odakyu operates a wide range of businesses, including railroads, real estate, leisure and hotels. Due to the nature of its business, Odakyu has many real estate lease contracts, and the new lease accounting standards were expected to have an impact on all 30 Odakyu Group companies. In particular, there are many cases where real estate is subleased to group companies and retail tenants, and the accounting for subleasing has become more complex. HUE Asset" was selected because of its ability to meet these requirements with standard functions, as well as its proven track record of implementation at other railroad companies.

Expected Effects: Consolidation of responses from 30 group companies to reduce the burden of dealing with the system

　Companies that sublease real estate among group companies are required to have lessor/sublessor functions in order to comply with the new lease accounting standards. HUE Asset" is equipped with these functions as standard, allowing for efficient and complex accounting processes associated with compliance with the new lease accounting standards. In addition, by automatically linking journal entries and organizational data with the financial accounting area already implemented in the "HUE" series, the burden of system construction and operation is reduced. This will enable Odakyu to ensure compliance with the new lease accounting standards across the 30 Odakyu group companies while minimizing the workload.

＜Comments from Odakyu Electric Railway Co.

Odakyu has been studying how to manage leases across the entire Odakyu Group with a view to complying with the new lease accounting standards. In addition to its compatibility with the "HUE" series already in place, Odakyu adopted "HUE Asset" based on its ability to handle contract types, including subleases, and its ability to operate in a manner that allows for expansion to other Odakyu Group companies. In the future, we intend to make steady progress in responding to the system, and at the same time, we intend to link this to the advancement of lease management for the entire group.

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