Gurunavi : Notice regarding Business Alliance with TENPOS HOLDINGS Co.,Ltd.

For immediate release

Name of Listed Company:	Gurunavi, Inc.
Listed Stock Exchanges:	Tokyo Stock Exchange
Stock Code:	2440
Representative:	Akio Sugihara, President

Notice regarding Business Alliance with TENPOS HOLDINGS Co.,Ltd.

May 25, 2022 ̶ The board of directors of Gurunavi, Inc. (the "Company") today resolved to enter into a business alliance agreement with TENPOS HOLDINGS Co.,Ltd. ("Tenpos") (hereinafter such business alliance shall be referred to as the "Business Alliance", and such agreement on the Business Alliance shall be referred to as the "Business Alliance Agreement") as detailed below:

1. Purpose and background of the Business Alliance

The Company has been developing restaurant support business centered on the sales promotion since its founding. Under the medium-term vision of "Evolve into management support company for restaurants", the Company is currently working to expand multifaced services that contribute to improving restaurant management efficiency, such as ICT utilization support and business agency services.

Tenpos has been developing its business mainly through the sale of used kitchen equipment. Under the policy of "increasing five-year survival rate of restaurants to 90%", Tenpos is currently focusing on expanding the information and service business that contributes to restaurant management support.

Through the Business Alliance, the Company, with strength in management support centering on restaurant sales promotion, and Tenpos, with strength in support for opening and closing restaurants, aim to provide more comprehensive and higher value-added services throughout the entire process of restaurant management, from opening to operation to closing, by leveraging mutual strengths. Specifically, the Company and Tenpos plan to improve sales force and develop human resources through personnel exchange, promote sales collaboration of various services, product collaboration and planning new services. This will lead to the achievement of their medium-term vision and business policies mentioned above, improvement of corporate value, and ultimately to the realization of a sustainable restaurant industry.

2. Details of the Business Alliance

1. Human resources exchange such as secondment for the purpose of improving the sales force and developing human resources of the Company and Tenpos.
2. Sales and product collaboration, and joint product development for the purpose of expanding the value provided to customers of the Company and Tenpos.
3. Customer data linkage for the purpose of strengthening (2) above.
4. Business consignment from Tenpos to Gurunavi Promotion Community, Inc., a subsidiary of the Company, for the purpose of expanding the value provided to Tenpos' customers.
5. Collaboration between Gurunavi Support Associe, Inc., a subsidiary of the Company, and Tenpos for the purpose of strengthening the Company's and Tempos' efforts to employ people with disabilities.

3. Outline of the Business Alliance partner

(1)	Company name	TENPOS HOLDINGS Co.,Ltd.
(2)	Location	2-30-17 Higashikamata, Ota-ku, Tokyo
(3)	Representative	Atsushi Morishita, President and CEO

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(4)	Description of business	Equipment sales business for restaurants, restaurant
				management support business, restaurant
				management business, leasing / credit handling
				business, and other businesses
(5)	Capital	509 million yen
(6)	Date of establishment	March 31, 1997
(7) Major shareholders and shareholding ratio	Asashio.Co.Ltd				16.19%
		(Rate of shares held to total number of
		Atsushi Morishita				15.59%
		shares issued excluding treasury stock)
		FUKUSHIMA GALILEI CO. LTD.		8.06%
				MARUZEN CO.,LTD.		4.28%
				Tomoko Hasegawa				3.73%
				Masato Morishita				3.72%
				Akiko Yamada				3.56%
				Kiyoko Morishita				3.54%
				Kazumitsu Morishita				3.36%
				Employee stockholding association of		0.62%
				Tenpos Busters, Inc.
(8) Relationship with the Company
		Capital relationship	None
		Personal relationship	None
		Trade relationship	None
		Related party status	None
(9) Financial Position and Performance in the Past 3 Fiscal Years
		Consolidated fiscal year ended	April 30, 2019		April 30, 2020		April 30, 2021
		Net assets		10,683		12,173		11,168
		Total assets		15,181		16,284		16,902
		Net assets per share (yen)		762.80		838.37		832.08
		Net sales		30,134		29,195		27,014
		Operating income		1,953		1,722		982
		Ordinary income		2,091		1,903		1,448
		Net income attributable to owners of parent		1,010		960		199
		Basic earnings per share (yen)		84.54		79.82		16.74
		Annual dividends (yen)		10.00		10.00		8.00
(Note 1)	As of April 30, 2021
(Note 2)	In millions of yen unless specified otherwise
4.		Schedule
(1) Date of the resolution by board of directors			May 25, 2022
(2) Conclusion date of the Business Alliance Agreement		May 25, 2022
5.		Outlook

Although the impact of the Business Alliance on the Company's business performance in the current period is insignificant, we believe that it will contribute to the improvement of our business performance and corporate value in the medium to long term, as described in 1. above.

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(Reference)

Consolidated business forecasts for the year ending March 31, 2023 and consolidated operating results for the year ended March 31, 2022

				Net loss
	Net sales	Operating loss	Ordinary loss	attributable to
				owners of parent
Consolidated business
forecasts for the year	12,800	(3,250)	(3,250)	(3,300)
ending March 31, 2023
Consolidated operating
results for the year	12,852	(4,786)	(4,692)	(5,768)
ended March 31, 2022

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