On March 9, 2024, one of the Company’s warehouses in Japan suffered damages due to a warehouse fire. While the Company is still evaluating the impact caused by the warehouse fire, the Company estimated approximately $1.8 million in damages with respect to the cost of its inventory held at the warehouse. The Company has insurance coverage associated with the damages to the inventory and warehouse equipment. Furthermore, the Company has a total of four warehouses in Japan and the Company has shifted our warehousing operations in Japan to the other three warehouses to minimize any disruptions to the Company’s operations in Japan.
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