June 9, 2023

Company Name: HEROZ, Inc.
Name of Representatives:
Takahiro Hayashi,
Co-Chief Executive Officer:
Stock Code: 4382, TSE Prime Market
Contact: Hiroya Mori,
Chief Financial Officer(Telephone: +81-3-6435-2495)

Notice: This document is an excerpt translation of the original Japanese document and is only for reference
purposes. In the event of any discrepancy between this translated document and the original Japanese document,
the latter shall prevail.

Notice of Business Alliance with Wills, Inc.

HEROZ Corporation (headquartered in Minato-ku, Tokyo; Takahiro Hayashi, Co-CEO; hereinafter referred to as"the Company") is pleased to announce the start of a business alliance with Wills, Inc (hereinafter referred to as “Wills”).

1. Background and Purpose of Business Alliance
Through the provision of "Shogi Wars," the largest Shogi game application officially recognized by the Japan
Shogi Federation, and "Kishin Analytics," a Shogi AI analysis service for professional and strong amateur Shogi
players, we will accelerate the AI Transformation (AIX) of society by actively promoting AI social
implementation for the finance, construction, entertainment and other industries, aiming to realize coexistence
between humans and AI.

Wills, on the other hand, is a comprehensive consulting company for IR and SR activities. With the aim ofimproving the efficiency of capital markets and maximizing the corporate value of listed companies throughenhanced IR activities, Wills offers the “Premium Benefits Club,” which combines a shareholder benefits programand DX for shareholder management; “IR-navi,” a marketing tool for institutional investors; and the “ESGSolutions Business,” which provides integrated report planning and production and consulting services.

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In the recent environment surrounding listed companies, more and more companies are becoming aware of thenew listing standards due to the revision of the market classification by the Tokyo Stock Exchange. Furthermore,management is required to be more conscious of the cost of capital and stock prices than ever before.

In its efforts to promote social implementation of AI, the Company has been providing AI solutions related tostocks and stock prices, such as "AI Stock Portfolio Diagnosis," in which AI suggests the best combination ofstocks, and "AI Stock Price Monitoring Service," in which AI notifies you when to trade stocks you own.
Through this business alliance between the Company and Wills, the "Corporate Management Diagnosis AI(tentative name)" developed by the Company will be implemented in Wills' "IR-navi" to encourage listedcompanies to use the "Corporate Management Diagnosis AI (tentative name)" to voluntarily improve theircorporate behavior. In addition, the Company will develop AI tools to expand the internal functions of the"Premium Benefits Club”. Through these efforts, we hope to contribute to the improvement of the market
capitalization of listed companies.

Furthermore, the two companies will share their customer networks and promote mutual introductions of potential
customers as well as planning and development of new products and services.

2.

Details of the Business Alliance.

a.

Providing listed companies with "Corporate Management Diagnosis AI (tentative name)" developed by theCompany mounted on "IR-navi" of Wills, Inc.

b.

Development of an AI tool for the "Premium Benefits Club" by the Companyc.

Sharing the customer networks of both companies to introduce potential customers to each other.

d.

Planning and development of new services

3.

Outline of Business Alliance Partnera.

Company name:Wills, Inc.

b.

Location:

2-3-17 Toranomon, Minato-ku, Tokyoc.

Title and name of representative
Mitsuo Sugimoto, President and Representative Directord.

Business Activities- Otion of the Premium Benefits Club and the Premium Benefits Club PORTAL- Operation of IR-navi- ESG solutions (planning and production of integrated reports, annual reports, etc.)- Virtual shareholders' meetings and online financial results briefingse.

Capital stock:

246 million yen2f.

Date of Establishment:

4.

Outlook for the Future

October 2004

The consolidated earnings forecast for the fiscal year ending April 30, 2024, including the impact of this businessalliance on the Group's consolidated earnings, is disclosed as of today.

Forecasts of business performance are based on information currently available to the Company. Forecasts are
subject to various uncertainties, and actual results may differ from these forecasts. We will review our earnings
forecasts from time to time and disclose them in accordance with the disclosure rules.

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