On December 18, we implemented the disposition of treasury stock through a third-party allotment with CHANGE Holdings, Inc., (Headquarters: Minato-ku, Tokyo, Representative Director: Daishi Fukudome Securities Code: 3962, Hereinafter; CHANGE).

We are developing real estate services (real estate tech services) that utilize technology, such as real estate application development and development and operation of the “Tech Series”, a real estate business support tool that utilizes AI. In addition, we are promoting data utilization and AI development in the real estate field, aiming to further improve user convenience for each service. In April of this year, we launched the AI Strategy Office, the first in the real estate industry, to prepare an organizational structure to focus on strengthening the AI area, and promote the fusion of technology and real estate.

CHANGE, on the other hand, has a corporate mission of "Change People, Change Business, Change Japan" and provides services and IT services that utilize a library of various algorithms such as AI, voice Internet, mobility, IoT, big data, cloud, and security, as well as basic technologies. We are developing training for human resource development as a "NEW-IT transformation business".

This capital increase is a business affinity with CHANGE, which is promoting business to improve productivity and added value by bringing about changes in the business operations and business models of Japanese companies by utilizing new technologies such as AI and IoT. It was realized because of its high quality. In the future, both companies will pursue the possibility of synergistic effects centered on the AI area, further strengthen their development capabilities, and aim to improve each other's corporate value, with a view to expanding into the IoT business.