Among the matters relating to our business situation, accounting situation, etc., the following are risks that may have a significant impact on investor decisions.
Please note that forward-looking statements are based on our judgment as of the date of submission of the securities report. For details, please refer to [Business Risks] in the [Securities Report].

(1) Risks related to the business environment

1. About the Internet Advertising Market
2. Responding to technological innovation
3. Regarding competition
4. Legal regulations

(2) Business Risks

1. About Platform Business
2. Acquisition of a powerful advertising medium for customer attraction support business
3. About the Real Estate Tech Business
4. Regarding distributors through our group's sales activities
5. System troubles and server cracking
6. About business investment

(3) Organizational structure and personnel risks

1. Dependence on a specific person
2. Regarding the enhancement of internal control systems
3. Securing and developing talented personnel

(4) Other risks

1. Relationship with the parent company group