Note: This document has been translated from a part of the Japanese original for reference
purposes only. In the event of any discrepancy between this translated document and theJapanese original, the original shall prevail. The Company assumes no responsibility for thistranslation or for direct, indirect or any other forms of damages arising from the translation.
August 27, 2024
Corporate Name: IPS, Inc.
Trading Name:
IPS, Inc.
President/CEO:Koji Miyashita
Code Number:
4390 Prime Market of theTokyo Stock Exchange
Contact:
Hiroyasu Akatsu,
General Manager,
Administration Department(TEL.+81-3-3549-7719)

Announcement Regarding the Philippine Business Inspection TourWe are pleased to announce that our company has decided to hold the "Philippine
Business Inspection Tour" in February 2025. This tour, initially conducted in July 2019,
was postponed in 2020 due to the COVID-19 pandemic. We resumed the tour in Octoberof last year, and now we are set to continue this year.

1. Purpose of the Inspection TourOur company group operates telecommunications businesses in both Japan and theRepublic of the Philippines (hereinafter “the Philippines”), as well as a medical andhealthcare business in the Philippines. The Philippines accounts for approximately 70%
of our sales by region. Due to the significant differences in business environments
between the Philippines and Japan, we are committed to expanding our operations
through aggressive investment.
•Telecommunications Investment:
In December of last year, we completed the construction of the “Philippine
Domestic Submarine Cable Network (PDSCN),” our largest investment
project to date. This network, supported by 140 relay stations across thePhilippines, rivals those of major telecommunications carriers, allowing us toprovide nationwide services to hyperscale operators, CATV operators, local
telecommunication companies, and local corporations.

•Medical & Healthcare Sector:
In April 2023, we opened the SHINAGAWA DIAGNOSTIC & PREVENTIVECARE CENTER (SDPCC). This facility, a pioneer in the Philippines for preventive
medical checkups, is equipped with the latest medical technology from PHILIPSand FUJIFILM. It features an in-house laboratory capable of providing same-day
results, with diagnostic imaging technology leveraged from Japan. Images aredouble read by medical specialists in both Japan and the Philippines.

The Philippines, with a population exceeding 110 million and an average age of around25 years, recorded a GDP growth rate of 5.6% in 2023, surpassing that of its Southeast
Asian neighbors. This growth trajectory underscores the country's strong potential for
economic development.
To offer our shareholders and investors a chance to experience the dynamic, growing
economy of the Philippines firsthand, and to deepen their understanding of our businessactivities and market environment, we have organized this inspection tour. The event willfeature visits to our business sites in Metro Manila and briefings on our business strategies.
The tour, organized by a travel agency, will accommodate approximately 200 participants
with expenses covered by the company. The scheduled dates are in February 2025.

2. Details of the Inspection Tour
1.

Schedule:
February 22 (Saturday) to 24 (Monday), 2025 (2 nights and 3 days)

2.

Departure and Arrival Points:o Haneda Airport (morning flight)o Narita Airport (morning flight)o Kansai Airport (morning flight)
Please note: Requested flights may not always be available.
Participants are to gather at the travel agency-designated location 2 hours
and 30 minutes before departure at each airport. The tour concludes atManila Airport, with evening returns scheduled to each airport.

3.

Transportation and Accommodations (Tentative):①

Airlines: All Nippon Airways (ANA) and Philippine Airlines (not selectable),
Economy Class②

Accommodations: The Peninsula Manila

The tour package includes breakfast and lunch on the second day, and breakfast on
the third day. Dinner is not included. Optional sightseeing dinner courses can bearranged by the travel agency at an additional cost. Please consult with the travel
agency for details.
4.

Tentative Itinerary:①

Business Strategy Presentation - Delivered by our CEO②

Symposium on Business Environment - Featuring guest speakers③Site Visits - Tours of our business locations in the Philippines④Evening Cocktail Reception - Hosted by our company

3. Number of Shareholders Invited•Approximately 200 persons
Includes beneficial shareholders designated by financial institutions andinvestors considering investment in our company.

4. Method of Selection of Invitees
Invitees will be selected through the following process:
1.

First Round of Lottery (Scheduled for November):①

Shareholders listed or recorded in the shareholders' register as of September
30, 2024, who hold at least one unit of shares and have expressed a desire
to participate, with the top 50 ranked by number of shares held.

②

If not included in the above, remaining participants will be selected througha strict lottery.

2.

Second Round of Lottery (Scheduled for Late November to Early
December):If the required number of invitees is not met after the first round, a second
lottery will be conducted to select additional participants from those not chosen
in the initial drawing.
*A third round may be conducted depending on the application status of secondround winners.

5. Additional Information
Further details on the inspection tour schedule and participation procedures will beavailable on our website once finalized. Eligible shareholders will receive a notification by
mail in mid-October. Updates regarding postponements or other changes will also beposted on our website.
Corporate-registered shareholders may designate a representative to participate. Travel
expenses, as covered by the company, do not include costs for passports, airport
transportation, local expenses, etc. Documentation may be required by the travel agency
in advance; we ask for your cooperation. Note that cancellations after applying may incura fee as per the travel agency's policy.
Due to the nature of our Group's business, providing regular opportunities for firsthandexperience of the Philippine economy and business environment is vital. With this event,
we will have hosted tours for approximately 600 shareholders and investors. Having
achieved our initial goals, we have no current plans for similar events in the future.

The cost of this inspection tour is minimal relative to our assets and net income, withnegligible impact on our earnings.

6. Inquiry contact
IPS, Inc., IR Division
TEL: +81-3-3549-7719
E-mail: ir@ipsism.co.jp