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Part 3: Position Social Games Business as an investment area in line with concentration on SHOPLIST;Establish a subsidiary directly controlled by the president, continue to transition from high- to low-risk development approach

RELEASE

CROOZ, Inc. (headquarters: Minato-ku, Tokyo; CEO: Koji Obuchi) hereby announces that the Board of Directors, at a meeting held on October 13, 2016, formulated a policy for “revising the business portfolio to persist as a long-lasting company, making SHOPLIST the brand that represents fast fashion e-commerce,” and made three decisions based on this policy. The third decision is to concentrate management resources on SHOPLIST.com while establishing a strategic subsidiary, Studio Z, Inc. (hereinafter “Studio Z”) and positioning the Social Games Business as an investment area. Studio Z will aim for one hit title with a select team led by the president himself.

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