UBE Corporation (President: Masato Izumihara, hereafter "UBE") has announced its decision to terminate operations of ANA Crowne Plaza Ube (hereafter "ANACPU"), which is operated by UBE Group company UBE Hotels., Co., Ltd. (President: Takashi Sakurada, hereafter "UBEH"), on March 31, 2024.

With the closing of ANACPU, UBE Corporation will dissolve UBEH by June 2024. The impact of the termination of ANACPU operations (UBEH dissolution) on UBE consolidated financial results for the fiscal year ending March 2024 will be negligible.

ANA Hotel Ube Co., Ltd., the predecessor of UBEH, was established in 1982 and opened ANA Hotel Ube in Ube City, Yamaguchi Prefecture, in 1983. The trade name ANA Hotel Ube Co., Ltd. was changed to UBE Hotels., Co., Ltd. in 1999, and the hotel, which was rebranded ANA Crowne Plaza Ube in 2011, has provided premium products and quality service. The first fully fledged urban-style hotel in Ube City, ANACPU has attracted a great deal of attention as a local landmark since its opening. The hotel has operated for 40 years as a tourism and business base for both Japanese and international guests, as well as providing a place for local residents to gather and relax.

After careful consideration, however, UBE has made the decision to dissolve UBEH due to the aging of the hotel's facilities and the decline in guest numbers brought about by the COVID pandemic, as well as the unlikely prospect that performance would recover under current circumstances. UBE management extends its sincere gratitude to all guests who have patronized the hotel over the many years it has been in business.

With the exception of a change in business hours for some restaurants and facilities, ANA Crowne Plaza Ube will continue operations as usual until March 31, 2024.