LANCERS,INC.

The corporate group described in this report is shifting its business strategy to become a “Hybrid AX Company” that provides integrated support for advancing AX (AI transformation) and DX, with a matching platform at the core of its business and the aim of expanding the online market that matches individuals with companies. Its three principal business models are “Matching Platform,” “Agent,” and “Consulting & Solutions.” The flagship service of its matching platform is Lancers. When a client submits a request, Lancers submit quotations, after which one specific individual or company is selected and the project begins under the project model. Other request formats include the competition/task model, in which multiple Lancers work simultaneously to produce the final deliverable, and the package model, in which services are productized based on skills. The Agent business introduces IT professionals through Lancers Tech Agent and freelance consultants through Lancers Professional Agent. Consulting & Solutions provides integrated support ranging from strategy formulation through development and implementation. These business models recognize system fees, transaction fees, and contract amounts relating to the requested amounts as revenue.