Certain Common Stock of Japaniace Co.,Ltd. are subject to a Lock-Up Agreement Ending on 11-MAR-2023. These Common Stock will be under lockup for 179 days starting from 13-SEP-2022 to 11-MAR-2023.

Details:
With respect to the offering and the secondary offering by way of purchase and underwriting by the underwriters, Saburo Nishikawa, the seller and lender, Kayoko Nishikawa and Ryota Matsushima, the sellers, and West River Co., Ltd., Akihiro Nishikawa, and Yu Nishikawa, who are the Company's shareholders, agree to SMBC Nikko Securities Inc. (hereinafter referred to as "lead managing company") for 180 days from the date of conclusion of the primary underwriting contract for the secondary offering and the underwriter's sale by purchase and underwriting, counting from the listing (trading start) date During the period until March 11, 2023 ( hereinafter referred to as the "lock-up period"), it will be held on its own account on the date of conclusion of the direct underwriting agreement without obtaining the prior written consent of the lead managing company.