# EDGAR Filing Document

**Accession Number:** 0002018462
**File Stem:** 0001493152-26-002059
**Filing Date:** 2026-1
**Character Count:** 39868
**Document Hash:** 7262c63609e7dffc79688a8ca1011a74
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-002059.hdr.sgml**: 20260113

**ACCESSION NUMBER**: 0001493152-26-002059

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20260113

**FILED AS OF DATE**: 20260113

**DATE AS OF CHANGE**: 20260113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PicoCELA Inc.
- **CENTRAL INDEX KEY:** 0002018462
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC LIGHTING & WIRING EQUIPMENT [3640]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** M0
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42470
- **FILM NUMBER:** 26530378

**BUSINESS ADDRESS:**
- **STREET 1:** 2-34-5 NINGYOCHO, SANOS BUILDING,
- **STREET 2:** NIHONBASHI CHUO-KU,
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 103-0013
- **BUSINESS PHONE:** 81 03-6661-2780

**MAIL ADDRESS:**
- **STREET 1:** 2-34-5 NINGYOCHO, SANOS BUILDING,
- **STREET 2:** NIHONBASHI CHUO-KU,
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 103-0013

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of January 2026**

**Commission File Number: 001-42470**

**PicoCELA Inc.**

**2-34-5 Ningyocho, SANOS Building, Nihonbashi**

**Chuo-ku, Tokyo 103-0013 Japan**

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒ Form 40-F ☐

**Convocation and Results of Extraordinary General Meeting of Shareholders of PicoCELA Inc.**

In accordance with the rules and regulations of the Companies Act of Japan (the "Companies Act"), PicoCELA Inc. (the "Company") made public a notice and accompanying information, including voting instructions, on its website on September 8, 2025, and sent the same to all holders of its common shares and American Depositary Shares on September 10, 2025, with respect to its extraordinary general meeting (the "Extraordinary Meeting") which was subsequently held in Tokyo, Japan on September 30, 2025 at 9:30 a.m., Japan Standard Time.

On September 30, 2025, the Company held the Extraordinary Meeting at Room No. 7, Hamacho-Kuminkan 3-37-1, Nihonbashi-Hamacho, Chuo-ku, Tokyo, Japan at 9:30 a.m., local time. The Extraordinary Meeting was held to resolve the following proposals:

---

| | |
|:---|:---|
| **Proposal 1** | **Reductions in Amount of Share Capital and Legal Capital Surplus** |

---

To offset the current deficit in retained earnings brought forward and attain better presentation of Japanese accounting books, the Company proposed to (i) reduce the amount of Share Capital and Legal Capital Surplus and (ii) transfer the entire amount of Share Capital and Legal Capital Surplus reduced to Other Capital Surplus in accordance with Article 447, paragraph (1) and Article 448, paragraph (1) of the Companies Act. The reductions in the amount of Share Capital and Legal Capital Surplus are accounting transfers within the net assets section of the balance sheet and do not change the amount of net assets of the Company.

The following are the details of the reductions in the amount of share capital and legal capital surplus: (x) the amount reduced from the Share Capital was JPY660,729,164, (y) the amount reduced from the Legal Capital Surplus was JPY715,749,163, and (z) the effective date of the reduction was September 30, 2025, Japan Standard Time.

---

| | |
|:---|:---|
| **Proposal 2** | **Establishment of an Audit and Supervisory Committee at Board of Directors** |

---

To further enhance its corporate governance function, the Company proposed to abolish its Audit and Supervisory Board and establish an Audit and Supervisory Committee at its board of directors, as well as amending the Company's articles of incorporation to effect the abolishment and the establishment.

---

| | |
|:---|:---|
| **Proposal 3** | **Election of Two Directors Who Are not Audit and Supervisory Committee Members** |

---

Subject to Proposal 2's approval, the Company proposed the election of Mr. Hiroshi Furukawa and Mr. Toshihito Kanai as directors who are not audit and supervisory committee members.

---

| | |
|:---|:---|
| **Proposal 4** | **Election of Three Directors Who Are Audit and Supervisory Committee Members** |

---

Subject to Proposal 2's approval, the Company proposed the election of Mr. Hideaki Horikiri, Ms. Mutsuko Oba, and Mr. Yoshinari Noguchi as directors who are audit and supervisory committee members.

---

| | |
|:---|:---|
| **Proposal 5** | **Appointment of Accounting Auditor** |

---

Subject to Proposal 2's approval, the Company proposed the appointment of Nanatsu-boshi Audit Corporation as its accounting auditor as required by the Companies Act.

---

| | |
|:---|:---|
| **Proposal 6**<br>| **Revision of Remuneration, etc. for Directors (Directors Who Are Not Audit and Supervisory Committee Members)** |

---

The Company proposed to establish the limit amount of annual aggregate remuneration of directors who are not audit and supervisory committee members at JPY200 million.

---

| | |
|:---|:---|
| **Proposal 7** <br>| **Revision of Remuneration, etc. for Directors Who Are Audit and Supervisory Committee Members** |

---

The Company proposed to establish the limit amount of annual aggregate remuneration of directors who are audit and supervisory committee members at JPY100 million.

---

| | |
|:---|:---|
| **Proposal 8**<br>| **Partial Amendment to the Articles of Incorporation** |

---

In addition to Proposal 2, the Company proposed to, regarding the articles of incorporation, (i) amend Article 6 (Total number of authorized shares) to increase the number of authorized shares from 91,735,440 to 138,456,828, (ii) delete Article 18 (Measures for electronic information provision, etc.) as the Company is not regarded as a company that issues book-entry transfer shares (i.e., a listed company) in Japan, (iii) amend Article 25(Representative Directors and Directors with Specific Duties) to allow the Company's board of directors to delegate all or part of the decision-making regarding important business operations to directors.

A copy of the English translation of the amended articles of incorporation is furnished in this report as Exhibit 3.1.

---

| | |
|:---|:---|
| **Proposal 9** | **Grant of Restricted Common Shares as Share-Based Compensation for Directors** |

---

The Company proposed to establish a program to grant restricted common shares to the Company's directors (the "Program"). The proposal requested the shareholders to approve: (i) the limit on the amount of cumulative aggregate share-based compensation of no more than JPY800 million, separately from the remuneration for directors, (ii) the limit on the total number of restricted shares of 40 million shares to be granted to directors, (iii) the Program term of 20 years, from October 1, 2025 to September 30, 2045, and (iv) the following conditions of restricted common shares to be granted to directors: (a) transfer or resale of the restricted common shares was prohibited for five years from the date of grant, (b) the grant was done by the Company: (x) entering into an agreement to allocate restricted common shares, and (y) issuing the Company's common shares or disposing its treasury shares, and (c) the detailed conditions of the restricted shares shall be determined by the board of directors' resolution.

At the Extraordinary Meeting, the shareholders of the Company approved and adopted all proposals as originally proposed.

A total of 22,142,937 votes, representing approximately 65.29% of the votes as of July 31, 2025, the record date for the Extraordinary Meeting, were present in person or by proxy at the Extraordinary Meeting. The results of the votes were as follows:

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| | | | |
|:---|:---|:---|:---|
| **Proposal** | **For** | **Against** | **Abstain** |
| Proposal 1 | 21886839 | 240211 | 15887 |
| Proposal 2 | 21912810 | 218751 | 11376 |
| Proposal 5 | 21909939 | 230178 | 2820 |
| Proposal 6 | 18899680 | 3226833 | 16424 |
| Proposal 7 | 18891852 | 3234661 | 16424 |
| Proposal 8 | 20597114 | 1514516 | 31307 |
| Proposal 9 | 18869144 | 3268526 | 5267 |

---

**Proposal 3:** 

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| | | | |
|:---|:---|:---|:---|
| **Nominees of Directors Who Are Not Audit and Supervisory Committee Members** | **For** | **Against** | **Abstain** |
| Hiroshi Furukawa | 21874817 | 258810 | 9310 |
| Toshihito Kanai | 21874817 | 258810 | 9310 |

---

**Proposal 4:** 

---

| | | | |
|:---|:---|:---|:---|
| **Nominees of Directors Who Are Audit and Supervisory Committee Members** | **For** | **Against** | **Abstain** |
| Hideaki Horikiri | 18935356 | 3186559 | 21022 |
| Mutsuko Oba | 18935356 | 3186559 | 21022 |
| Yoshinari Noguchi | 18935356 | 3186559 | 21022 |

---

**Termination of Audit and Supervisory Board and Establishment of the Audit and Supervisory Committee**

On September 30, 2025, the shareholders approved the termination of the Company's audit and supervisory board and the establishment of the audit and supervisory committee, a committee within the Company's board of directors. As a result, the Company became a "company with audit and supervisory committee" under Japanese laws. With respect to the requirements of Rule 10A-3 under the Exchange Act and Nasdaq Rule 5600 relating to audit committees, the Company chose to rely on exemptions under these rules that are available to foreign private issuers with an audit and supervisory committee meeting certain requirements.

Directors who are audit and supervisory committee members are not required to be certified public accountants. Under the Companies Act, the majority of the members of the audit and supervisory committee must be outside directors as defined under the Companies Act, who have not served as executive directors, corporate executive officers, managers or any other type of employee for the Company or any of the Company's subsidiaries for ten years prior to their election and fulfill certain other requirements specified in the Companies Act. The Company currently has an audit and supervisory committee consisting of three members, Hideaki Horikiri, Mutsuko Oba, and Yoshinari Noguchi. The Company believes that Mutsuko Oba and Yoshinari Noguchi are outside directors, causing the audit and supervisory committee to meet the requirements under the Companies Act.

The audit and supervisory committee oversees the Company's accounting and financial reporting processes and the audits of the Company's financial statements. An audit and supervisory committee member may note his or her opinion in the audit report issued by the audit and supervisory committee if such an opinion differs from that expressed in the audit report. The audit and supervisory committee is responsible for, among other things:

● supervising the administration of affairs by the directors and also examining the financial statements and business reports to be submitted to the general meeting of shareholders by a representative director and preparing an audit report;

● appointing the independent auditors and pre-approving all auditing and non-auditing services permitted to be performed by the independent auditors;

● reviewing with the independent auditors any audit problems or difficulties and management's response;

● discussing the annual audited financial statements with management and the independent auditors;

● reviewing the adequacy and effectiveness of the Company's accounting and internal control policies and procedures and any steps taken to monitor and control major financial risk exposures;

● reviewing and approving all proposed related party transactions;

● meeting separately and periodically with management and the independent auditors;

● monitoring compliance with the Company's code of business conduct and ethics, including reviewing the adequacy and effectiveness of the Company's procedures to ensure proper compliance; and

● determining the opinion on election, removal, resignation of, or compensation for directors who are not audit and supervisory committee members, which may be expressed at a general meeting of shareholders.

In addition to the Company's audit and supervisory committee, the Company must appoint accounting auditors (kaikei kansa-nin) from independent certified public accountants or an independent audit firm in Japan. The accounting auditors have the statutory duties of examining the financial statements to be submitted to the shareholders by a representative director at the general meetings of shareholders and reporting their opinion thereon to the relevant directors and the audit and supervisory committee. The accounting auditors also audit the financial statements to be included in the securities reports that, if required, will be filed with the relevant local finance bureau of the Ministry of Finance. The Company has appointed Nanatsu-boshi Audit Corporation as its accounting auditor.

**Issuance of the Company's Common Shares to the Company's Chief Financial Officer and Director** 

On December 30, 2025, the Company issued a press release to announce the issuance on the same date of 40,000,000 common shares (the "Shares") of the Company to Hideaki Horikiri, the chief financial officer and a director of the Company, pursuant to that certain restricted common share compensation agreement (the "Compensation Agreement") between the Company and Hideaki Horikiri, dated December 15, 2025. Pursuant to the Compensation Agreement, the issuance of the Shares was in consideration for Hideaki Horikiri's services rendered and included a prohibition on any sale, transfer, loan or pledge of the Shares for a period of 20 years from the date of grant. However, the prohibition may be canceled by a resolution of the Company's board of directors.

The execution of the Compensation Agreement and the issuance of Shares were authorized by the Company's shareholder resolution and board of directors' resolution dated September 30, 2025 and December 15, 2025, respectively. As of December 30, 2025, the common shares held by Hideaki Horikiri accounted for 53.6% of the Company's outstanding 74,614,207 common shares.

A copy of the English translation of the Compensation Agreement and the press release are furnished in this report as Exhibits 10.1 and 99.1, respectively.

**EXHIBIT INDEX**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | [Amended Articles of Incorporation of the Registrant (English Translation)](ex3-1.htm) |
| 10.1# | [Restricted Stock Compensation Agreement between the Registrant and Hideaki Horikiri, dated December 15, 2025 (English Translation)](ex10-1.htm) |
| 99.1 | [Press Release –PicoCELA Inc. Issues Restricted Common Shares to CFO and Director](ex99-1.htm) |

---

# Certain portion of this Exhibit was redacted pursuant to Item 601(a)(6) of Regulation S-K and marked by means of brackets and asterisks ("[\*\*\*\*]").

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **PicoCELA Inc.** | **PicoCELA Inc.** |
| Date: January 13, 2026 | By: | */s/ Hiroshi Furukawa* |
|  | Name: | Hiroshi Furukawa |
|  | Title: | Chief Executive Officer and Representative Director |

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## Exhibit 3.1

**Exhibit 3.1**

◇ PicoCELA Inc. Articles of Incorporation ◇

Prepared on July 20, 2008

Revised March 20, 2009

Revised January 31, 2012

Revised April 22, 2013

Revised February 28, 2014

Revised March 2, 2017

Revised July 1, 2017

Revised September 21, 2017

Revised July 19, 2018

Revised January 23, 2019

Revised January 30, 2020

Revised July 30, 2020

Revised August 18, 2020

Revised December 23, 2020

Revised December 24, 2021

Revised December 27, 2022

Revised July 31, 2023

Revised January 25, 2024

Revised July 17, 2024

Revised October 15, 2024

Revised October 24, 2024

Revised November 29, 2024

September 30, 2025 Revision

Articles of Incorporation

Chapter 1 General Provisions

(Trade Name)

Article 1 The Company shall be known as PicoCELA Kabushiki Kaisha, and its English name shall be PicoCELA Inc.

(Purpose)

Article 2 The purpose of the Company is to engage in the following business activities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Planning,
 development, sales, and maintenance related to information communication systems.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Planning,
 production, development, sales, leasing, rental, maintenance, and consulting related to information
 communication systems and software.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Development,
 manufacturing, sales, and import/export of communication and information processing equipment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Sale
 and licensing of intellectual property rights and mediation of usage rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Any
 and all operations incidental to the above items.

(Head Office Location)

Article 3 The Company shall have its head office located in Chuo-ku, Tokyo.

(Organizations)

Article 4 In addition to the general meeting of shareholders and directors, the company shall have the following organizations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Board
 of Directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Audit
 and Supervisory Committee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Accounting
 Auditor

(Method of Public Notice)

Article 5 The company's public notices shall be made electronically. However, if electronic notice is not possible due to accidents or other unavoidable reasons, the public notices shall be published in the official gazette.

Chapter 2 Shares

(Total Authorized Shares)

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| | |
|:---|:---|
| Article 6 | The total number of shares authorized to be issued by the Company shall be 138,456,828 shares. |

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(Acquisition of Own Shares)

Article 7 The Company may acquire its own shares through market transactions, etc., by resolution of the Board of Directors pursuant to the provisions of Article 165, Paragraph 2 of the Companies Act.

(Request for Entry of Shareholder Register Information)

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| | |
|:---|:---|
| Article 8 | When a person acquires shares of the company, they must jointly request the entry or recording of matters in the shareholder register using the prescribed request form, signed or sealed by the acquirer and the person recorded as the shareholder, their heir, or other universal successor. However, in cases stipulated by Ministry of Justice ordinances, the acquirer may request entry or recording alone. |

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(Request for Registration of Pledge and Indication of Trust Property)

Article 9 For the company's shares, a request for registration of pledge or indication of trust property must be made using the prescribed request form, signed or sealed by the parties involved and submitted to the company. The same applies to the cancellation of such registration or indication.

(Fees)

Article 10 When making a request as stipulated in the preceding two articles, the fees prescribed by the Company must be paid.

(Record Date)

Article 11 The Company shall deem shareholders with voting rights listed or recorded in the final shareholder register as of the end of each fiscal year to be shareholders entitled to exercise rights at the regular shareholders' meeting for that fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;② In
 addition to the preceding paragraph, when necessary, the Company may, after prior public
 notice, designate shareholders or registered pledgees of shares listed or recorded in the
 final shareholder register as of a specified date as the shareholders or registered pledgees
 of shares entitled to exercise rights.

(Shareholder Registry Administrator)

Article 12 The Company shall appoint a Shareholder Register Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;② The
 shareholder registry administrator and the location where its affairs are handled shall be
 determined by resolution of the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;③ The
 preparation of the Company's shareholder register and stock option register, their
 maintenance, and other matters concerning these registers shall be entrusted to the Shareholder
 Register Administrator and shall not be handled by the Company.

(Stock Handling Regulations)

Article 13 The handling of the Company's shares and related fees shall be governed by laws and regulations, these Articles of Incorporation, and the Share Handling Regulations established by the Board of Directors.

Chapter 3 General Meeting of Shareholders

(Convocation)

Article 14 The ordinary general meeting of shareholders of the company shall be convened in December every year, and extraordinary general meetings of shareholders shall be convened whenever necessary.

(Record Date for Regular Shareholders' Meetings)

Article 15 The record date for voting rights at the Company's regular general meeting of shareholders shall be September 30 of each year.

(Omission of Convening Procedures)

Article 16 The general meeting of shareholders may be held without the convening procedures if all shareholders who can exercise voting rights at that meeting agree.

(Convening Authority and Chairperson)

Article 17 The general meeting of shareholders shall be convened and chaired by the President and Director.

&nbsp;&nbsp;&nbsp;&nbsp;② In
 case of an accident involving the President and Director, another Director in the order predetermined
 by the Board of Directors shall convene and chair the general meeting of shareholders.

(Method of Resolution)

Article 18 Unless otherwise stipulated by law or this Articles of Incorporation, resolutions of the general meeting of shareholders shall be adopted by a majority of the voting rights of the shareholders present who can exercise voting rights.

&nbsp;&nbsp;&nbsp;&nbsp;② Special
 resolutions under Article 309, Paragraph 2 of the Companies Act shall be adopted by at least
 one-third of the shareholders who can exercise voting rights and at least two-thirds of the
 voting rights of the shareholders present.

(Omission of Shareholders' Meeting Resolutions)

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| | |
|:---|:---|
| Article 19 | If a proposal is made by the Directors or shareholders regarding matters that are the purpose of the resolution of the general meeting of shareholders, and if all shareholders who can exercise voting rights agree in writing or electronically, it shall be deemed that the proposal has been adopted as a resolution of the general meeting of shareholders. |

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(Proxy Exercise of Voting Rights)

Article 20 A shareholder may exercise voting rights by proxy through another shareholder who has voting rights in the company.

&nbsp;&nbsp;&nbsp;&nbsp;② The
 shareholder or proxy must submit a document certifying the proxy right to the company for
 each general meeting of shareholders.

(Minutes of Shareholders' Meetings)

Article 21 The minutes of the general meeting of shareholders, which record the matters stipulated by law, shall be prepared and kept at the head office of the company for ten years.

Chapter 4 Directors and Board of Directors

(Number of Directors)

Article 22 The number of Directors of the company shall not exceed seven.

&nbsp;&nbsp;&nbsp;&nbsp;② Among
 the directors referred to in the preceding paragraph, the number of directors who are Audit
 Committee members shall not exceed three.

(Method of Appointment)

Article 23 Directors shall be elected by resolution of the General Meeting of Shareholders, divided into directors who are members of the Audit and Supervisory Committee and other directors.

&nbsp;&nbsp;&nbsp;&nbsp;② Resolutions
 for the appointment of directors shall be adopted by a majority vote of the shareholders
 present who hold one-third or more of the voting rights of shareholders entitled to exercise
 their voting rights.

&nbsp;&nbsp;&nbsp;&nbsp;③ Resolutions
 for the appointment of directors shall not be made by cumulative voting.

(Term of Office)

Article 24 The term of office for directors (excluding directors who are members of the Audit and Supervisory Committee) shall end at the conclusion of the regular shareholders' meeting for the final fiscal year ending within one year after their appointment.

&nbsp;&nbsp;&nbsp;&nbsp;② The
 term of office of a Director who is also an Audit Committee Member shall be until the conclusion
 of the ordinary general meeting of shareholders for the final fiscal year ending within two
 years after their appointment.

&nbsp;&nbsp;&nbsp;&nbsp;③ The
 term of office of a Director who is a member of the Audit and Supervisory Committee appointed
 as a replacement for a Director who is a member of the Audit and Supervisory Committee who
 resigned before the expiration of his/her term shall be until the expiration of the term
 of the Director who is a member of the Audit and Supervisory Committee who resigned.

&nbsp;&nbsp;&nbsp;&nbsp;④ The
 period during which the resolution appointing a replacement director serving as an Audit
 and Supervisory Committee member remains effective shall be until the commencement of the
 regular shareholders' meeting for the final fiscal year ending within two years after
 the appointment.

(Representative Directors and Directors with Specific Duties)

Article 25 The Board of Directors shall select a Representative Director from among the directors (excluding directors who are Audit Committee Members) by resolution.

&nbsp;&nbsp;&nbsp;&nbsp;② The
 Board of Directors may, by resolution, designate from among the directors (excluding directors
 serving as Audit and Supervisory Committee members) one President, Vice Presidents, and a
 certain number of Senior Managing Directors and Managing Directors.

&nbsp;&nbsp;&nbsp;&nbsp;③ Pursuant
 to the provisions of Article 399-13, Paragraph 6 of the Companies Act, the Company may, by
 resolution of the Board of Directors, delegate all or part of the decision-making regarding
 important business operations to directors.

(Authority to Convene and Chair the Board of Directors)

Article 26 Unless otherwise provided by law, the President shall convene the Board of Directors and serve as its chairperson.

&nbsp;&nbsp;&nbsp;&nbsp;② In
 the event of a vacancy or incapacity of the President and Representative Director, another
 Director shall convene the Board of Directors and preside over it in accordance with the
 order predetermined by the Board of Directors.

(Notice of Board of Directors Meetings)

Article 27 Notice of the Board of Directors meeting shall be given to each director at least three days prior to the meeting date. However, this period may be shortened in cases of emergency.

&nbsp;&nbsp;&nbsp;&nbsp;② If
 all directors consent, a Board meeting may be held without following the convening procedures.

(Omission of Board Resolution)

Article 28 The Company shall deem a resolution of the Board of Directors to have been adopted when the requirements of Article 370 of the Companies Act are satisfied.

(Minutes of Board Meetings)

Article 29 The gist of the proceedings and the results of the Board of Directors meeting, as well as other matters prescribed by laws and regulations, shall be recorded in the minutes, which shall be signed and sealed or electronically signed by the attending directors.

(Board of Directors Regulations)

Article 30 Matters concerning the Board of Directors shall be governed by laws and regulations, these Articles of Incorporation, and the Board of Directors Regulations established by the Board of Directors.

(Exemption from Liability of Directors)

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| | |
|:---|:---|
| Article 31 | The Company may, pursuant to the provisions of Article 426, Paragraph 1 of the Companies Act, exempt directors (including former directors) from liability for damages arising from negligence in the performance of their duties, within the limits prescribed by law, by resolution of the Board of Directors. |

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&nbsp;&nbsp;&nbsp;&nbsp;② The
 Company may enter into contracts with directors (excluding executive directors, etc.) to
 limit liability for damages under Article 423, Paragraph 1 of the Companies Act, pursuant
 to Article 427, Paragraph 1 of the same Act. However, the maximum amount of liability for
 damages under such contracts shall be the minimum liability amount prescribed by law.

(Compensation, etc.)

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| | |
|:---|:---|
| Article 32 | The remuneration, bonuses, and other property benefits received from the Company as compensation for the performance of duties (hereinafter referred to as "Remuneration, etc.") shall be determined by resolution of the General Meeting of Shareholders, distinguishing between directors who are members of the Audit and Supervisory Committee and other directors. |

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Chapter 5 Audit and Supervisory Committee

(Notice of Audit and Supervisory Committee Meeting)

Article 33 Notice of meetings of the Audit and Supervisory Committee shall be issued to each member of the Audit and Supervisory Committee at least three days prior to the meeting date. However, this period may be shortened in cases of urgent necessity.

&nbsp;&nbsp;&nbsp;&nbsp;② When
 all Audit and Supervisory Committee members consent, the committee may be convened without
 following the regular notice procedures.

(Method of Resolution by the Audit and Supervisory Committee)

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| | |
|:---|:---|
| Article 34 | Resolutions of the Audit and Supervisory Committee shall be made by a majority vote of the Audit and Supervisory Committee members present, provided that a majority of the Audit and Supervisory Committee members eligible to vote are present. |

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(Minutes of the Audit and Supervisory Committee)

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| | |
|:---|:---|
| Article 35 | The gist of the proceedings and the results of the Audit and Supervisory Committee meeting, as well as other matters prescribed by laws and regulations, shall be recorded in the minutes. Attending Audit and Supervisory Committee members shall sign and affix their seals or provide electronic signatures to these minutes. |

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(Audit and Supervisory Committee Regulations)

Article 36 Matters concerning the Audit and Supervisory Committee shall be governed by the Audit and Supervisory Committee Regulations established by the Audit and Supervisory Committee, in addition to those stipulated by laws and regulations or the Articles of Incorporation.

Chapter 6: Accounting Auditor

(Appointment of Accounting Auditor)

Article 37 The Company shall appoint an Accounting Auditor.

(Appointment of the Accounting Auditor)

Article 38 The Accounting Auditor shall be appointed by resolution of the General Meeting of Shareholders.

(Term of Office of the Accounting Auditor)

Article 39 The term of office of the Accounting Auditor shall be until the conclusion of the regular shareholders' meeting for the fiscal year ending within one year after appointment.

&nbsp;&nbsp;&nbsp;&nbsp;② Unless
 otherwise resolved at the regular shareholders' meeting referred to in the preceding
 paragraph, the auditor shall be deemed to have been reappointed at that regular shareholders'
 meeting.

(Compensation of the Accounting Auditor)

Article 40 The remuneration, etc., of the Accounting Auditor shall be determined by resolution of the Board of Directors with the consent of the Audit and Supervisory Committee.

Chapter 7 Calculation

(Fiscal Year)

Article 41 The fiscal year of the Company shall be from October 1 of each year to September 30 of the following year.

(Record Date for Dividend Distribution)

Article 42 The record date for the Company's year-end dividend shall be September 30 of each year.

&nbsp;&nbsp;&nbsp;&nbsp;② The
 record date for the Company's interim dividends shall be March 31 of each year.

&nbsp;&nbsp;&nbsp;&nbsp;③ In
 addition to the preceding two paragraphs, dividends may be paid based on other record dates.

(Statute of Limitations for Dividends)

Article 43 If the dividend property is money, the Company shall be released from its obligation to pay if the dividend remains unclaimed for a full three years after the commencement of payment.

(Matters Not Provided for in the Articles of Incorporation)

Article 44 Matters not provided for in these Articles of Incorporation shall be governed by the provisions of the Companies Act and other applicable laws and regulations.

Supplementary Provisions

(Transitional Measures Concerning Liability Exemption for Auditors)

1. The Company may, within the limits prescribed by law, exempt auditors (including former auditors) from liability for damages under Article 423, Paragraph 1 of the Companies Act for acts performed prior to the conclusion of the Extraordinary General Meeting of Shareholders on September 30, 2025, by resolution of the Board of Directors.

2. Contracts limiting the liability for damages under Article 423, Paragraph 1 of the Companies Act for acts of auditors (including former auditors) prior to the conclusion of the Extraordinary General Meeting of Shareholders on September 30, 2025, shall continue to be governed by the provisions of Article 41, Paragraph 2 of the Articles of Incorporation as they existed prior to amendment by resolution of said Extraordinary General Meeting of Shareholders.

End

## Exhibit 10.1

**Exhibit 10.1**

**Restricted Common Share Compensation Agreement**

PicoCELA Inc. (hereinafter referred to as "Party A") and Hideaki Horikiri (hereinafter referred to as "Party B") hereby enter into this Restricted Common Share Compensation Agreement (hereinafter referred to as "this Agreement") based on the Companies Act and the resolution regarding the grant of restricted common shares adopted at the meeting of the Board of Directors of Party A held on December 12, 2025.

**Article 1 (Details of Restricted Common Stock to be Granted)**

The restricted common shares (hereinafter referred to as the "Shares") is as follows.

(1) Type of Shares: Common shares

(2) Number of Shares Granted: 40,000,000 shares

(3) Method of Grant: New share issuance

(4) Transfer Restrictions: Party B may not transfer, lend, or pledge the Shares as collateral to any third party for a period of 20 years from
the date on which Party B received the grant of the Shares and acquired such Shares (hereinafter referred to as the "Grant Date").

(5) Payment Date: Party B shall pay the compensation claim on December 30,
 2025.

(6) Grant Conditions: (i) Party
 B shall be a director who is an Audit and Supervisory Committee member of Party A on the Grant Date.

(ii) The
 amount calculated by multiplying the net assets per share at the end of the fiscal year immediately preceding the Grant
 Date by the number of shares granted shall not exceed ¥800 million.

**Article 2 (Other Conditions)**

(1) Free
 Acquisition by Party A: If any of the following events occurs during the transfer restriction period, Party A may, subject to
a resolution of the Board of Directors, acquire all or part of the Shares granted to Party B without charge.

(i) If
 it is determined that Party B caused damage to Party A by intentionally causing Party A to commit a material violation of the Companies
 Act or other laws and regulations during Party B's term as a director.

(ii) If
 it is determined that Party B, as a director serving as an Audit and Supervisory Committee
 member of Party A, committed a material violation of the Companies Act.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Release
 of Transfer Restrictions: Party A may release the transfer restrictions on the Shares by
 resolution of the Board of Directors.

(Signature and Seal Page Continues on Next Page)

In witness whereof, this Agreement has been executed in duplicate, and Party A and Party B shall each retain one copy after signing or affixing their seal.

Date of Agreement: December 15, 2025

Party A: PicoCELA Inc. <br> SANOS Nihonbashi 4F, 2-34-5 Nihonbashi Ningyocho, Chuo-ku, Tokyo

Representative Director Hiroshi Furukawa Seal

Party B: [\*\*\*\*]

(Signature) Seal <br> Hideaki Horikiri

## Exhibit 99.1

**Exhibit 99.1**

**PicoCELA Inc. Issues Restricted Common Shares to CFO and Director**

**Tokyo, Japan, December 30, 2025** – On December 15, 2025, PicoCELA Inc. ("**PicoCELA**" or the "**Company**," Nasdaq: PCLA), a Tokyo-based provider of enterprise wireless mesh solutions, entered into a restricted stock compensation agreement (the "**Compensation Agreement**") with Hideaki Horikiri, the Company's chief financial officer and director. Pursuant to the Compensation Agreement, on December 30, 2025, the Company issued 40,000,000 common shares (the "**Shares**") of the Company to Mr. Horikiri, and the issuance of the Shares is in consideration for Mr. Horikiri's services rendered and includes a prohibition on any sale, transfer, loan or pledge of the Shares for a period of 20 years from the date of grant. However, the prohibition may be canceled by a resolution of the Company's board of directors.

The execution of the Compensation Agreement and the issuance of the Shares were authorized by the Company's shareholder resolution and board of directors' resolution dated September 30, 2025 and December 15, 2025, respectively.

As of December 30, 2025, the number of common shares held by Mr. Horikiri accounted for 53.6% of the Company's outstanding 74,614,207 common shares.

**About PicoCELA Inc.**

PicoCELA is a Tokyo-based provider of enterprise wireless mesh solutions, specializing in the manufacturing, installation, and services of mesh Wi-Fi access point devices. PicoCELA Backhaul Engine, the Company's proprietary patented wireless mesh communication technology software, eliminates the need for extensive local area network cabling and enables flexible and easy installation of Wi-Fi network devices. PicoCELA also offers a cloud portal service, PicoManager, which allows users to monitor connectivity and communication traffic, as well as install edge-computing software on the Company's PCWL mesh Wi-Fi access points.

**Cautionary Note Regarding Forward-Looking Statements**

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the Company's filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

**PicoCELA Investor Contact**

<u>global@picocela.com</u>