Risk Factors

Of the business and accounting matters of our company, the following is a list of key issues that we believe may be risk factors and other issues that may have a significant impact on other investors' judgments. Matters concerning the future were determined by the Company as of the filing date of financial statements (September 28, 2023). (1)To Second-hand Online business
①Securing the purchase volume of second-hand goods
②Purchase of stolen goods
③Purchase of imitations
④Impact of pandemic and Natural Disasters, etc.
⑤EC Market Trends
⑥Second-hand Market Trends
⑦Reliance on Specific Services
⑧Tight supply-demand situation in the shipping market

(2)To Media business
①About attracting visitors from search engines
②Decrease in the value of site content
③Content Trustworthiness
④Site Features
⑤Competitive Environment

(3)To Mobile & Telecommunications business
①Procurement of lines from MNO
②Dependence on external sources for communication line management
③Competitive Environment

(4)IT
①The system glitches, etc.
②Technological changes

(5)Legal regulations
①Antique Dealings Law
②Act on the Protection of Personal Information
③Other legal regulations

(6)Business operation structure
①Recruitment and Training
②Reliance to specific person
③Application of Impairment Accounting for Acquired Businesses

(7)Other
①Dividend policy
②Recoverability of Deferred Tax Assets
③Dilution of Share Value caused by the exercise of stock acquisition rights