Company: SATLF
Filing Date: 2025-04-01
Form Type: F-6 POS
Source: 0001104659-25-030364
Chunk: 2

Company: Start Today Co., Ltd./ADR
Filing Date: 2025-04-01
Form: F-6 POS
Chunk 2
---
    | -ix                                                                                       | Restrictions upon the right to transfer or withdraw the underlying securities                                |     | Face of Receipt – Article 1, 2, 4 and 6;                             
 Reverse of Receipt – Articles 14, 15 and 18                          |
|    | -x                                                                                        | Limitation on the depositary’s liability                                                                     |     | Face of Receipt – Article 1, 2, 4 and 7;                             
 Reverse of Receipt – Articles 11, 12, 14, 15, 16, 18 and             
 21                                                                   |
| 3. | Fees and charges that a holder of Receipts may have to pay, either directly or indirectly |                                                                                                              |     | Reverse of Receipt – Article 19                                      |

Item 2. AVAILABLE INFORMATION

| Required Information |                                                                                                                                       |     | Location in Form of Receipt Filed Herewith as 
 Prospectus                                    |
| (a)                  | Statement that as of the date of the establishment of the program for issuance of Receipts by the Depositary, the                     
 Depositary has a good faith belief (after limited investigation), that the issuer of the Deposited Securities publishes information   
 in English required to maintain the exemption from registration under Rule 12g3-2(b) under the Securities Exchange Act                
 of 1934 on its internet website or through an electronic information delivery system generally available to the public in its primary 
 trading market.                                                                                                                       |     | Face of Receipt – Article 8                   |

<div align='center'>I-2

Prospectus

THIS PAGE AND THE FORM OF
AMERICAN DEPOSITARY RECEIPT ATTACHED HERETO AS EXHIBIT (A) CONSTITUTE THE PROSPECTUS RELATING TO SUCH AMERICAN DEPOSITARY RECEIPTS, IN
ACCORDANCE WITH GENERAL INSTRUCTION III.B OF FORM F-6 OF THE SECURITIES AND EXCHANGE COMMISSION

I-3

PART II

INFORMATION NOT REQUIRED
IN PROSPECTUS</div>

Item 3. EXHIBITS

(a) Copy of Agreement - The Agreement between the Depositary and all holders
from time to time of American Depositary Receipts evidencing American Depositary Shares registered hereunder is contained in the form
of the American Depositary Receipt itself, constituting the Prospectus filed as a part of this Registration Statement.

(b) Any
other agreement, to which the Depositary is a party, relating to the issuance of the Depositary Shares registered