Notice Regarding Release of Return on Capital/Cost of Capital Analysis Report by J-Phoenix Research Inc.

Oricon Inc.

Oricon Inc. hereby announces the release of a Return on Capital/Cost of Capital Analysis Report on our company by J-Phoenix Research Inc. (hereinafter referred to as “JPR”). Details are as follows:

In the creation of this report, we did not provide any information or interviews to JPR. The report was prepared based on impartiality and neutrality, relying on investigation and analysis from a third-party perspective. Our aim is for stakeholders to gain a better understanding of our company’s value.

Please be aware that this announcement does not serve as an investment recommendation.

Return on Capital/Cost of Capital Analysis Report(2024/5/17)

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