Independence from the Parent Company and Protection of Minority Shareholders

「When our group conducts transactions with the parent company or other companies in its corporate group, we carefully examine and execute the appropriateness of the transaction terms, including when initiating new transactions and continuing existing transactions, by comparing them with the terms of transactions with other third parties, from the perspective of protecting minority shareholders. Specifically, we regularly conduct comprehensive comparisons with transaction terms offered by third parties and report to the Board of Directors, which includes Outside Directors independent of the parent company and other related parties, that the terms are appropriate. Important transactions and actions involving potential conflicts of interest between the controlling shareholder and minority shareholders are reviewed and considered by a special committee composed of independent persons, including Independent Outside Directors, before the committee submits its recommendation to the Board of Directors for a decision.」

「When conducting business activities, we are required to give prior notice to our parent company, GMO Internet, Inc., only for matters classified as important resolutions. However, we independently make decisions and conduct all operations, including sales activities in each business.」

「There are no particular business restrictions imposed by the parent company, and we have secured independence from the parent company in management. In developing our group’s business, we do not act based on instructions or approvals from the parent company or other related parties. Instead, we make and implement decisions independently under the judgment of management centered on Independent Directors and other officers who have no foreseeable conflicts of interest with general shareholders, as well as dedicated officers who constitute a majority.」

「There are no particular business restrictions imposed by the parent company, and we have secured independence from the parent company in management. In developing our group’s business, we do not act based on instructions or approvals from the parent company or other related parties. Instead, we make and implement decisions independently under the judgment of management centered on Independent Directors and other officers who have no foreseeable conflicts of interest with general shareholders, as well as dedicated officers who constitute a majority.」

「In developing our group’s business, we do not act based on instructions or approvals from the parent company or other related parties. Instead, we make and implement decisions independently under the judgment of management centered on Independent Directors and other officers who have no foreseeable conflicts of interest with general shareholders, as well as dedicated officers who constitute a majority.」