Participation in Chiba Prefecture and Choshi City’s joint market dialogue extends OFA’s potential scale in Choshi beyond a single site
Choshi, Chiba Prefecture, Japan, Oct. 19, 2026 (GLOBE NEWSWIRE) — OFA Group (Nasdaq: OFAL) (“OFA” or the “Company”) today announced that it has entered the market sounding survey for the Naarai Port Green Space Utilization Project (名洗港緑地活用事業) in Choshi City, Chiba Prefecture, Japan. The survey covers approximately 3.71 hectares of coastal green space owned by Chiba Prefecture and Choshi City, which the two governments intend to plan and utilize as a single integrated area.
The sounding survey is a public-private dialogue held under the Chiba Prefecture PPP/PFI Regional Platform, co-organized by Chiba Prefecture and Choshi City. It allows the prefectural and city governments to hear private-sector views on the potential use of public land before any formal solicitation. OFA is scheduled to take part in the closed-format session on October 22, 2026.
The survey represents a potential expansion of OFA’s development scale in Choshi. Separately, OFA’s proposed Music Park development, on approximately 7,000 square meters of municipally owned land at 15-7 Shiomicho, is under final confirmation with Choshi City, and the Company is awaiting the City’s official confirmation of the agreement. Participation in the sounding survey is preliminary and does not constitute a selection, award or agreement.
“Entering this sounding survey reflects our long-term commitment to Choshi and our ambition to grow beyond a single site,” said Larry Wong, Chief Executive Officer of OFA Group. “We look forward to the City’s confirmation of the Music Park development and to a constructive dialogue with Chiba Prefecture and Choshi City on the future of the Naarai Port waterfront.”
OFA will provide further updates as appropriate, including when the Music Park agreement is officially confirmed by Choshi City.
About OFA Group
OFA Group (Nasdaq: OFAL) is a technology-driven architecture and real estate company working across AI and construction. OFA is revolutionizing the architectural industry by integrating cutting-edge AI technology and an interdisciplinary approach, which improves processes for building code compliance, construction design, time management, labor efficiency, effectiveness, and overall productivity. For more information, visit www.ofagroup.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s participation in the Naarai Port Green Space sounding survey, the anticipated agreement with Choshi City for the Music Park development, and the Company’s potential development activities in Choshi. Forward-looking statements may be identified by words such as “may,” “will,” “expect,” “anticipate,” “intend,” “plan,” “potential,” and similar expressions. These statements are subject to risks and uncertainties, including the possibility that the Music Park agreement may not be confirmed on the expected terms or timing, or at all; that the sounding survey may not result in a solicitation, selection or agreement; changes in project scope, timing or financing; applicable regulatory and land-use requirements in Japan; and other risks described in the Company’s filings with the U.S. Securities and Exchange Commission. Actual results may differ materially from those expressed or implied in these statements. All forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update them except as required by law.
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OFA Group
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Website: www.ofagroup.com
