DIMMI LIFE HLDG (01667) Subsidiary to Sell Japan Land Plot for HK$21.995 Million

Stock News
09/01

DIMMI LIFE HLDG (01667) announced that on September 1, 2025, the seller (トップシブリー開発株式會社, an indirect wholly-owned subsidiary of the company) entered into an agreement with the buyers (株式會社39不動産 and 嘉和不動産コンサルタント株式會社) for the sale and purchase of a land plot at a consideration of 415 million yen (equivalent to HK$21.995 million).

The seller acquired the land plot in May 2018. The property is located at 32-3, Dotonbori 1-chome, Chuo-ku, Osaka, Japan, with a site area of approximately 171.15 square meters and remains undeveloped as of the announcement date.

The company believes the disposal represents an appropriate way to realize value from the land plot, which has remained vacant since its acquisition in 2018. The disposal presents an opportunity to achieve a premium above both the plot's book value and valuation, benefiting from continued investor interest in Japanese real estate assets, particularly amid yen depreciation and sustained market strength. By proceeding with the disposal, the company can capitalize on favorable market conditions and secure returns on its investment.

Furthermore, the group's business in Japan is not a core strategic focus, and the group has not invested substantial resources in developing or managing its Japanese assets. The board believes that continued ownership of the land plot has not been actively utilized and may not generate optimal returns for shareholders. The disposal will enable the group to streamline its asset portfolio, reduce administrative burden, and reallocate capital to markets and business areas where the group possesses greater expertise and competitive advantages.

The aggregate net proceeds from the disposal (after deducting related expenses) are estimated at approximately HK$20.0502 million, which the company currently intends to use for debt repayment or investment and other business development.

Upon completion of the disposal, it is expected to improve the group's liquidity, thereby strengthening its financial position and reducing its debt ratio, while enabling the group to focus on its core business operations.

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