Deteriorating Cost-Effectiveness of Advertising Activities

「Our company acquires new customers through advertising and promotional activities on the internet and other channels. Advertising and promotional expenses are an important investment to increase customer acquisition and operating revenue, and we analyze their cost-effectiveness on a daily basis to conduct optimal advertising and promotional activities.」

「We conduct advertising and promotional activities optimally by analyzing the cost-effectiveness of advertising and promotional expenses against customer acquisition and operating revenue on a daily basis. We are also working to strengthen our ability to attract customers through referrals between customers, without relying on advertising and promotional activities. However, if the cost-effectiveness of advertising and promotional expenses deteriorates for any reason, a decline in customer acquisition and operating revenue, as well as additional advertising and promotional expenses, could affect our financial condition and operating results.」

「If the cost-effectiveness of advertising and promotional expenses deteriorates for any reason, a decline in customer acquisition and operating revenue, as well as additional advertising and promotional expenses, could affect our financial condition and operating results.」