Use of Public Offering Proceeds for New Store Openings and Recruitment and Training

「The principal capital expenditures during the fiscal year related to the construction of 9 new stores and refurbishments, and total capital expenditures were ¥249,038 thousand.」

「Funds from financing activities increased by ¥526,959 thousand during the fiscal year, compared with a decrease of ¥362,521 thousand in the prior fiscal year. This reflected proceeds of ¥772,983 thousand from the issuance of shares and ¥100,000 thousand from long-term borrowings, which exceeded repayments of long-term borrowings of ¥337,801 thousand.」

「We listed our shares on the Growth Market of the Tokyo Stock Exchange and the Next Market of the Nagoya Stock Exchange on 28 February 2024. In connection with the listing, we issued 320,000 new shares through a public offering conducted using the book-building method, with a payment date of 27 February 2024. Share capital and capital reserves each increased by ¥391,552 thousand.」

「The proceeds are expected to be allocated to capital expenditures, including costs related to buildings and structures for new stores as part of business expansion, and working capital, including purchases of consumables for new stores, recruitment and training costs associated with new stores, such as job advertising and personnel-placement fees, and sales-promotion and advertising expenses.」