LIFULL : Notification of Capital and Business Alliance for Blockchain STOs with Hash DasH Holdings Co., Ltd.

February 21, 2022

Listed company:	LIFULL Co., Ltd.
Representative:	INOUE Takashi, President and CEO
	(Stock code: 2120 TSE First Section)
Inquiries:	FUKUZAWA Hidekazu, Managing Officer,
Head of Group Company Business Development Department
	(TEL [phone])
	(URL https://ir.lifull.com/en/)

Notification of Capital and Business Alliance for Blockchain

STOs with Hash DasH Holdings Co., Ltd.

As outlined in the following, we have entered into a capital and business alliance with Hash Dash Holdings Co., Ltd. ("HD"), a company creating financial transaction systems using blockchain technology.

Notes

1. Primary Reasons for the Capital and Business Alliance

In congruence with our Corporate Message "Make every LIFE FULL," we offer a variety of user- centric services focused around real estate information both in Japan and abroad

In our mid to long-term strategy, we have set a goal to stimulate and grow the real estate industry through IT solutions. For home-seekers, we offer the real estate information website LIFULL HOME'S, one of the largest real estate portals in Japan, as well as services across more than 60 different countries through LIFULL CONNECT. Through these services, we combine the enormous amounts of data we have collected with AI and other modern technologies to help each individual find exactly the right home and create new value in the market.

Also related to the home-seeking process, we offer the LIFULL HOME'S Akiya Bank as a solution to the ever-increasing issue of abandoned houses across Japan. Through this service, we provide centralized data on abandoned houses across the country and work with local municipalities, governments and other organizations to repurposes these homes and facilities into vacation rentals etc.

Also related to home-seeking is the ever-growing social issue of the increasing numbers of abandoned houses in rural areas of Japan. To provide a solution to this issue and provide ways to repurpose these buildings, we offer a centralized database on abandoned houses across Japan called the LIFULL HOME'S Akiya Bank and working closely with municipalities and local governments and using our investment-related services on LIFULL HOME'S and Kenbiya. We are developing systems, forming alliances and making strategic investments to construct a real estate investment platform which utilizes blockchain technology and taking a holistic approach to actively stimulate the real estate markets of local areas.

HD, on the other hand, has valuable experience in IT and blockchain technology as well as financial transaction systems and is creating a system for newly established legal measures.

Through this proposed capital and business alliance, we will leverage our resources of real estate information, client network and traffic with HD's experience with blockchain and the financial sector to develop new real estate-related financial products and methods for transactions to stimulate and help the real estate market continue to grow.

2. Investment Overview

As the investment amount does not meet the significance threshold, we will not disclose the amount at the request of our partner in consideration of future fund procurement.

In order to effectively demonstrate the synergy of our business alliance with HD and ensure its effectiveness, we will underwrite common stock issued through a third-party allotment. After underwriting the capital increase, we will become an equity-method affiliate with 20.51% voting rights in HD.

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3. Overview of Investment

Company	Hash DasH Holdings Co., Ltd.
Location	Chiyoda-ku, Tokyo
Representative	Representative Director, CEO HAYASHI Kazuto
Business	Financial Holding Company
Founding	November 2019
Capital	¥625 million
Relationship with LIFULL	No current relationship to report

4. Scheduled Date for Investment Execution

The business alliance and investment agreements are subject to approval of the HD Board of

Directors.
HD Board of Directors Meeting Date:	February 22, 2022
Completion of Investment Agreement: February 24, 2022
Completion of Payment:	February 25, 2022

5. Future Outlook and Effects on Business Results

We currently believe that the impact of this alliance on the business performance of the Group will be minor. However, should it become clear that this matter will have a significant impact on the business performance, we will make disclose details in a timely manner.

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(Reference Materials)

Building a Global Investment Platform - Real Estate X Blockchain -

Global Real Estate Investment Platform Vision

Making progress toward an investment platform where anyone can buy and sell small-investment real estate with just a smartphone

	Real Estate
	Investment
INTERNATIONAL	Platform
REAL ESTATE	New Investment Options
BUY	Simple Access to Investing
Diverse Choices
BUY
SELL	Buy and Sell Freely
Ensure Transparency

1

Future of the Global Real Estate Investment Platform

To reach our goal, we will need 1. access to a pool of investors, 2. products and partners and 3. a matching platform for transactions (licenses, systems)

Attracting Investors		Real Estate Investment Platform
Users from		Listings, Inquiries
Existing Services		Real Estate
						Crowdfunding
	Investment			Matching with
	Real Estate
						Investment Products
					Type 2 Financial Instruments Business License, Money
						Lending License, Real Estate Brokerage License
						Handling Financial Products
						NEW
						Development of Financial Transaction Systems
						(See next page for details)

Secondary Market & More Diverse

Investment Opportunities

(See Slide 4 for details)

Creating Investment Products

Digitalization of	Real Estate
Investment Products	Investment Products
%	%	Blockchain
Tech.
etc.
%	%

Partners

Offering a platform to create and manage digital securities via blockchain

Investing

Brokerage for companies offering digital securities for real estate and private equity

NEW

Type 1 Financial License (See next page)

2

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Capital Investment in Hash DasH Holdings

To accelerate the construction of a global real estate investment platform, we have decided to invest capital into Hash DasH Holdings

Representative	HAYASHI Kazuto
Director
Founded	Nov. 7, 2019
Capital	¥1.25 Billion
	(Including capital reserves)
Major	HAYASHI Kazuto
Shareholders	Tokai Tokyo Financial Holdings, Inc.
	Danny Toe
	Aoyama Zaisan Networks Company
	Limited
Business Areas	Securities firm

Capital investment decided in Feb. 2022

Reasoning

• Experience in Securities

Type 1 Financial License (FX)

Application in progress for license to handle digital securities (STO)

(Expected Completion: March 2022)

• STO System

In-house system development

3

Initiatives to Increase the Real Estate Investment Market

By securitizing real estate with blockchain technology and providing a system for secondary transactions where investors can buy and sell shares, we will provide more options for real estate investment and increase the overall real estate market

Image of Future Development

		Primary Transactions
			Sell	%
					Secondary Transactions
	%	%
						Investors
	%	%			Buy	%
Property	Securitize with			% Sell

blockchain technology

Investors

4

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