Matters Concerning the Controlling Shareholder, etc.

Status of Controlling Shareholders and Independence

This document describes the relationship structure with ZOZO as the parent company and controlling shareholder, and the framework to ensure our independence. One director is seconded from ZOZO, and our voting rights ratio is 16.8%, the same percentage for both direct holding and combined holdings. To ensure independence, the mechanism is explicitly in place that directors with special conflicts of interest cannot participate in relevant agenda items at board meetings.

Concurrent Roles of Officers and Director Involvement

As of June 16, 2026, Mr. Fumitaka Hirose has assumed the position of Director and COO of ZOZO, and it is stated that his experience in the fashion e-commerce industry will contribute to our management. There are no material transactions with the parent company, and related party transactions are structured to obtain board approval after confirming economic rationality and appropriateness.