Certain Common Stock of STUDIO ATAO Co.,Ltd. are subject to a Lock-Up Agreement Ending on 27-MAY-2017. These Common Stock will be under lockup for 180 days starting from 28-NOV-2016 to 27-MAY-2017. Details: Shares held by the lender, Kunihiro Seo, and seller, Seiji Kurokoshi, company shareholders namely 70 Co., Ltd. and 96 Co., Ltd., and company warrant holder Miyabi Kagotani will be under lock-up for a period beginning on the date of the conclusion of the original underwriting agreement to 180 days after the listing date November 29, 2016 till on May 27, 2017.